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. At CUNA's Governmental Affairs Conference, 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.

CPD training programs and resources will help ensure that your BSA training requirements have been met before your examiner walks in the door.

Bank Secrecy Act Resources & Events

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Bank Secrecy Act Conference
November 1–4, 2009 • San Francisco, CA
Presented by CUNA in partnership with NASCUS.

Topics include:

• Get an in-depth look at the various laws and regulations affecting BSA compliance, including red flags and the Right to Financial Privacy Act
• Hear from law enforcement representatives on what they're seeing in the world of money laundering
• Explore recent BSA case studies and learn new tips on what to look out for
• Discover new trends seen in BSA-related crimes
• Learn about the International ACH Transaction Rules and how they will affect your BSA compliance program
• Take a look at alternative payment methods and the problems that can develop

CUNA Bank Secrecy Act eSchool
May 5–June 16, 2009 • 2:00–3:30 p.m. CT
Presented by CUNA in partnership with NASCUS.

Safeguard your credit union and help satisfy your statutory and regulatory training requirements.

This eSchool will feature informative discussions on

• Practical, operational compliance issues
• Big picture compliance trends
• Overviews of common mistakes

BSA 101 Webinar
May 5 & 12, 2009 • 2:00–3:30 p.m. CT

Earn your Bank Secrecy Act Compliance Specialist (BSACS) designation through these two BSA 101 sessions. You will need to attend both the May 5 and 12 sessions to prepare for the BSACS exam. The next step is to locate a qualified proctor in your area and set your exam date.

Emerging Payment Systems Issues & BSA Compliance Webinar
June 16, 2009 • 2:00–3:30 p.m. CT

Hear from the new International ACH Transaction Rules and how they will affect your BSA compliance program. The payments system topics to be discussed will include issues around stored value cards which is promising to be a BSA money laundering problem.

CU Compliance: Bank Secrecy Act Seminar in a Box

This Seminar in a Box will provide the tools to help you put together successful Bank Secrecy Act training for your staff. You’ll receive access to current Currency Transaction Report and Suspicious Activity Report forms and tips to help you train including various scenarios with correct forms to check learning.

Bank Secrecy Act for Volunteers Training on Demand

This Training on Demand 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

This Training on Demand course provides an overview of BSA, including specific actions and documentations that front-line staff must complete to comply with regulations.

CUNA’s Bank Secrecy Act Compliance Guide

RegTraC Self-Study Programs:

RegTraC Level 1 – Module 2
General Operations Regulations
For non-compliance staff
Print version

Online course also available.

• 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 – Module 2
General Operations Regulations
For compliance staff
Print or PDF version

• 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)

Credit Union Model Policies:
A Framework for Compliance

Contains the Bank Secrecy Act policy to help you comply with legal and regulatory requirements.

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, 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 law effecting BSA is Title III of the USA Patriot Act, passed in 2001. CPD training and resources will review the Bank Secrecy Act and guide you on how to comply with them and when reports need to be filed.