MADISON, Wis. (1/19/10)--The Credit Union National Association (CUNA) is offering five new job-specific Training on Demand programs to help credit unions meet Bank Secrecy Act (BSA) training challenges. The programs aim to address compliance requirements of credit unions through specific staff positions. CUNA is offering the program in response to high demand for the training. The programs address the requirements for these staff positions:
* Operations Staff--This program addresses how to spot circumstances in daily activities that prompt the filing of a Currency Transaction Report (CTR) and a Suspicious Activity Report (SAR). Participants also will learn what information must be gathered when members request wire transfers and will understand what information must ¡§travel¡¨ with that wire. * Consumer Lending Staff--Lending is an area that money launderers have successfully used to get money gained from illegal activity into the system and clean money back out of it. During the program, participants will learn the red flags of potential money laundering, specific to the credit union loan process. * Member Business Loans--Business lending offers many opportunities and challenges for credit unions, so specialized knowledge of business organizations, transactions and underwriting is essential for credit union staff in this area, says CUNA. During this program, staff will learn the importance of performing a thorough check of new business loan members using Member Identification Policy and Customer Due Diligence programs. * Tellers--A credit union's tellers have daily contact with members and are the frontline defense against BSA violations. This training program will provide them with the knowledge of when to file a CTR and SAR and what information must be included in those reports. * New Accounts Staff--While it's a pleasure being able to shake the hand of a new member, the steps leading up to that moment require specific BSA actions. Participants of this program will learn the importance of conducting a thorough due-diligence review with new members so the account activity can be monitored for possible illegal activity.
Each downloadable package has a 30-minute to 45-minute video-like presentation with workbooks and five online exams. The presentations can be saved to a computer, DVD, or USB drive. For more information, use the links.