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Bank Secrecy Act (BSA) Resources
NCUA and state examiners are increasing their focus on whether credit unions are complying with all aspects of the Bank Secrecy Act (BSA) and its many regulatory requirements. The NCUA said that credit unions that are written up by their examiners for BSA compliance shortcomings which are not corrected within 90 days will be subject to serious enforcement actions.
What is the Bank Secrecy Act?
The Bank Secrecy Act (BSA), also known as The Financial Recordkeeping and Reporting of Currency and Foreign Transactions Act of 1970, was enacted to help in the investigations of money laundering, tax evasion and other criminal activity. The BSA is a combination of various statutes that require credit unions to record and retain certain records as well as report certain financial transactions to the federal government.
There are many laws and regulations that make up BSA, the most recent is Title III of the USA Patriot Act, passed in 2001. CPD training and resources will review the Bank Secrecy Act requirements and guide you on how to comply with them and when reports need to be filed.
The training programs and resources listed below will help ensure that your BSA training requirements have been met before your examiner walks in the door.
| [Schools & Conferences] | [eSchools & Webinars] | [Free Resource for Affiliated Credit Unions] | [Self-Study Courses] |
Schools & Conferences
CUNA Bank Secrecy Act Conference
December 2-5, 2012 • San Diego, CA
Presented by CUNA in partnership with NASCUS.
Sessions all focus on needed information for BSA compliance in your credit union and provide an opportunity to be certified and to recertify.
CUNA Bank Secrecy Act Compliance Specialist Certification
Make this your year to earn the CUNA Bank Secrecy Act Compliance Specialist Certification by
attending the Sunday BSA 101 session. There will be a Q&A session on Tuesday afternoon that
will provide an opportunity for clarification on any questions before the optional exam.
Certification is optional and available to all attendees. Upon completion of your certification,
make sure to stay certified by renewing your certification
renewing your certification
every three years.
eSchools & Webinars
CUNA Bank Secrecy Act eSchool
Presented by CUNA in partnership with NASCUS.
Know the rules. Recognize changes. Identify red flags.
Through this eSchool, you will hear the most current hot issues in the Bank Secrecy Act arena. It will feature informative discussions on practical, operational compliance issues, big picture compliance trends and overviews of common mistakes.
Plus, by attending the Bank Secrecy Act 101 two part sessions, you'll have the opportunity to take an exam and earn your Bank Secrecy Act Compliance Specialist Certification. You will need to attend both Bank Secrecy Act 101 sessions to prepare for the BSACS exam. The next step is to locate a qualified proctor in your area and set your exam date. Qualifying proctors must be a third party (not associated with your credit union) and can include:
- Directors, coordinators, or their representatives at a university or junior college testing, counseling, or educational services department.
- Registrars, deans, or professors at a university or junior college.
- Principals or counselors at a local high school.
- Certified librarians in a supervisory position.
- Local directors of educational services.
- A designated representative from your Credit Union League.
Prior to the first session you will receive a fax request form for ordering your BSACS exam. Once you've located a proctor and set your exam date, complete this form and fax it to the number indicated. A packet containing your exam, answer sheet and proctor instructions will be mailed to the proctor you list.
Self-Study Courses
Position-specific Bank Secrecy Act online courses
These 30-45 minute courses provide the information needed regarding BSA compliance for these
positions.
- BSA for Operations Staff
- BSA for Consumer Lending Staff
- BSA for Member Business Loans
- BSA for Tellers
- BSA for New Accounts Staff
Bank Secrecy Act for Volunteers Training on Demand online course
This online course provides a relevant overview of BSA including the specific actions that your board must actively keep up with, such as BSA policy, risk assessment, ongoing training, and Suspicious Activity Report filings.
Bank Secrecy Act for Front-Line Staff Training on Demand online course
This online course provides an overview of BSA, including specific actions and documentations that front-line staff must complete to comply with the regulations.
RegTraC Level 1 - General Operations Regulations (Module 2)
(for non-compliance staff)
Available in print version or
online course
Courses include:
- Bank Bribery Act
- Right to Financial Privacy Act
- Bank Secrecy Act
- IRS Information Reporting and Withholding Requirements
- NCUA Privacy Regulation
- Office of Foreign Assets Control (OFAC)
- Electronic Signatures in Global and National Commerce Act (ESIGN)
RegTraC Level 2 - General Operations Regulations (Module 2)
(for compliance staff)
Available in print or PDF version
Courses include:
- Bank Bribery Act
- Right to Financial Privacy Act
- Bank Secrecy Act
- IRS Information Reporting and Withholding Requirements
- NCUA Privacy Regulation
- Office of Foreign Assets Control (OFAC)
- Electronic Signatures in Global and National Commerce Act (ESIGN)
Free Resource for Affiliated Credit Unions
CUNA’s Bank Secrecy Act Compliance Guide
CUNA Bank Secrecy Act Compliance Specialist (BSACS) Certification
Earn your CUNA BSACS certification by attending CUNA’s BSA 101. BSA 101 is offered online through CUNA’s Bank Secrecy Act eSchool and onsite at CUNA’s Bank Secrecy Act Conference.
Register below:
CUNA Bank Secrecy Act eSchool 2012 dates coming soon!
CUNA Bank Secrecy Act Conference
CUNA Bank Secrecy Act Compliance Specialist (BSACS) Recertification Requirements and Guidelines
Upon completion of your BSACS certification, make sure to stay certified by renewing your certification.
Summary of Recertification Process
There are two methods for recertifying your BSACS designation:
- Attend the Bank Secrecy Act Conference and successfully pass the recertification exam.
- Attend the Bank Secrecy Act eSchool and successfully pass the recertification exam.
- Choose your method of recertification.
- Attend the Bank Secrecy Act Conference and successfully pass the recertification exam. The BSA Recertification Study Session will be offered at the Conference and the exam will be administered on site.
- Attend the Bank Secrecy Act eSchool and successfully pass the recertification exam. The eSchool includes a BSA Recertification Study Session. We will provide you with a complimentary exam code and instructions to take your exam with a proctor.
FOR MORE INFORMATION CONTACT:
- training@cuna.coop or call 800-356-9655, ext. 4249
100% Guarantee
CUNA Center for Professional Development is committed to providing a quality learning experience with cutting-edge topics and expert instructors. If for some reason you are not fully satisfied, contact us and we'll provide you a full tuition refund or credit.
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