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CUNA to continue designating BSA compliance specialists
MADISON, Wis. (9/9/11)--The Credit Union National Association’s (CUNA) Bank Secrecy Act Compliance Specialist (BSACS) certification will be available in October. Attendees of CUNA’s Bank Secrecy Act Conference, to be held Oct. 30-Nov. 2 in San Diego, can become certified by completing the Bank Secrecy Act (BSA) 101 session Oct. 30 and passing the exam. Established in 1970, the BSA was enacted by Congress to help in the investigations of money laundering, tax evasion and other criminal activity. Comprising a combination of various statutes that require credit unions to record and retain certain records and report certain financial transactions to the federal government, the act has become an essential piece of regulation for all credit unions to know. The BSACS certification and the CUNA Bank Secrecy Act Conference are designed to help professionals stay current on the changing laws and regulations that make up the BSA and help safeguard credit unions. For the first time, CUNA’s conference will conduct a study session to prepare past certified professionals for recertification as BSACS. Renewal is required every three years. Previously certified professionals can renew their BSACS certification by attending the conference in October and successfully passing the recertification test. Attendees of the CUNA Bank Secrecy Act Conference will also hear from the Financial Crimes Enforcement Network, the National Credit Union Administration and the Office of Foreign Assets Control on what can be expected in the next year.


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