Wire Transfer Compliance

Presenter: Rhonda Hudson, Compliance +, Inc.
Date: Tuesday, July 10, 2012
Time: 2:00 - 3:30 pm Central

Focus:
Wire transfer is one of your credit union’s most-susceptible areas in terms of fraud, money laundering, and other unlawful activities.  Therefore, it is not surprising that there are so many laws addressing wire transfer liability, security, and monitoring.  Regardless of your credit union’s size, you are required to comply with wire transfer regulations. 

This webinar will provide an overview of those requirements and practical suggestions for those responsible for this arduous task.  As an added benefit, the webinar handouts will include sample forms to help capture required information; sample computer spreadsheets to help with recordkeeping, monitoring, and data retrieval; a sample risk assessment; and an audit questionnaire to help assess whether all requirements are being met.

What You Will Learn

  • Wire transfer safety and soundness issues
  • Regulation J and UCC-4A
  • Bank Secrecy Act recordkeeping and monitoring
  • OFAC screening
  • USA PATRIOT Act 314(a) information sharing
  • Regulation GG Internet Gambling
  • New effective November 21, 2011, Fedwire and CHIPS Customer Transfer Plus (CTP)
  • New effective February 7, 2013, Regulation E remittance transfer rules

Who Should Sign Up?
This informative session would best suit BSA officers, compliance officers, internal auditors, and employees who handle wire transfers.

About the Presenter:
Rhonda Hudson is president of Compliance+, Inc., an audit and consulting firm that specializes in practical, common-sense solutions to issues associated with compliance, internal controls, and operations. 

Years of experience as a banker and consultant have helped her introduce new and innovative methods for resolving client problems, many of which were unique to their operations/ systems/resources.  Her solutions and methodologies have been well-received by her clients and their examiners.

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