NCUA and FinCEN Host First-Ever Joint Seminar on Bank Secrecy Act Compliance Programs

Bank Secrecy Act (BSA)Financial Crimes Enforcement Network (FINCEN)
National Credit Union Administration (NCUA)Anti-Money Laundering

More than 2,000 members of the credit union industry participated Tuesday in the first-ever web-based seminar hosted jointly by the National Credit Union Administration (NCUA) and the Financial Crimes Enforcement Network (FinCEN). Entitled “BSA: A Year in Review and Setting the Table for 2007,” the free seminar, known as a Webinar, provided information and guidance to credit unions about their Bank Secrecy Act (BSA) obligations.

The interactive format of the Webinar allowed members of the viewing audience to ask questions that were then answered by a panel of NCUA and FinCEN officials. The panel, which included JoAnn Johnson, NCUA Chairman, and Jamal El-Hindi, Associate Director of FinCEN’s Regulatory Policy and Programs Division, discussed topics that included NCUA’s BSA examination program; top BSA compliance issues; recent regulatory changes; how to prepare for a BSA compliance review; and FinCEN’s role as BSA administrator.

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