AML - SAR Training Course
FinCEN has issued regulations requiring financial institutions to implement anti-money laundering (AML) programs to help curtail suspicious financial activity as it relates to transactions like mortgages.
Just like the FTC Red Flags Rule and GLB Safeguard Rule requirements, the AML plan will be different for every company as all companies vary based on size, scope, complexity. In other words, plans will not be identical. Financial Strategies AML / SARS training course accomplishes 1 of the 4 minimum requirements under the new rules:
- the development of internal policies, procedures, and controls;
- the designation of a compliance officer;
- an ongoing employee training program; and
- an independent audit function to test programs.
This course will give an overview of the changes for non-bank lenders and originators and can be used as a guide to creating internal policies and procedures as well as appropriate tools needed to monitor employee’s compliance. Included is a short exam to complete prior to certification.