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.

Earn your CUNA Bank Secrecy Act Compliance Specialist (BSACS) Designation/recertify your current BSACS designation


[Schools & Conferences] [eSchools & Webinars] [Free Resource for Affiliated Credit Unions] [Self-Study Courses]

Schools & Conferences

CUNA Bank Secrecy Act Conference
December 2-5, 2012 • Dallas, TX
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 Designation
Make this your year to earn the CUNA Bank Secrecy Act Compliance Specialist Designation 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. Designation is optional and available to all attendees. Upon completion of your designation, make sure to stay certified by renewing your designation every 3 years.

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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 Designation. 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:

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.

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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.

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:

RegTraC Level 2 - General Operations Regulations (Module 2)
(for compliance staff)

Available in print or PDF version

Courses include:

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Free Resource for Affiliated Credit Unions

CUNA’s Bank Secrecy Act Compliance Guide

CUNA Bank Secrecy Act Compliance Specialist (BSACS) Designation

Earn your CUNA BSACS designation 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

CUNA Bank Secrecy Act Conference

CUNA Bank Secrecy Act Compliance Specialist (BSACS) Recertification Requirements and Guidelines

Upon completion of your BSACS designation, make sure to stay certified by renewing your designation every 3 years.

Summary of Recertification Process
There are two methods for recertifying your BSACS designation:

  1. Attend the CUNA Bank Secrecy Act Conference and successfully pass the recertification exam.
  2. Attend the CUNA Bank Secrecy Act eSchool and successfully pass the recertification exam.
Steps to Recertification
  1. Choose your method of recertification.
    1. Attend the CUNA Bank Secrecy Act Conference and successfully pass the recertification exam. The CUNA BSA Recertification Study Session will be offered at the Conference and the exam will be administered on-site.
    2. Attend the CUNA Bank Secrecy Act eSchool and successfully pass the recertification exam. The eSchool includes a CUNA 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:

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