MSB Em@il Education

MSBs: Money Service Businesses

What will you learn? If you have had a Bank Secrecy Act (BSA) compliance exam in the last several months, you have learned that examiners are closely reviewing your procedures for dealing with Money Service Businesses (MSBs). As part of BSA, banks are required to identify high-risk accounts and also determine if they meet the definition of an MSB. Financial institutions continue to struggle with this process and have difficulty establishing a program that will satisfy the regulators expectations. Fear of fines and regulatory scrutiny has caused many banks to take extreme measures and err on the side of caution by simply refusing to do business with MSBs.
In this series of ten training sessions (emailed to you daily for the next ten business days), discuss FinCEN's Interagency Guidance issued in April 2005, and explain various steps your institution can take to manage this potential risk. We will begin by defining the term MSB, learn the basic requirements and end by providing suggestions for building a risk-based MSB program. As with many Bank Secrecy Act regulations, there is still room for interpretation, but FinCEN has recently provided additional guidance that we will review during the series that will help your institution develop a strong MSB program.
Who is your instructor? Your MSB Em@il Education Course Instructor is BOL Guru, Ryan Rasske Vice President, Director BSA/AML Officer, Associated Banc-Corp in Green Bay Wisconsin Ryan Rasske is currently employed at Associated Banc-Corp in Green Bay Wisconsin as Vice President, Director BSA/AML Officer. In that capacity, he is responsible for the bank's Anti-Money Laundering, Bank Secrecy Act and OFAC compliance programs. He conducts training programs throughout the year in CIP, Identity Theft, Risk Ranking, and Detecting Suspicious Activity. Prior to joining Associated Bank, Mr. Rasske was employed with the U.S. Secret Service and lived in the Washington DC metropolitan area. His banking career started in 2000 at E*TRADE Bank where he assumed the role of Bank Secrecy Act and Anti-Money Laundering Officer. He is a 2002 graduate of the ABA National Compliance School. He is currently a member of the ABA Money Laundering Issues Group, ACAMS Education Task Force, and was a speaker at the 2004 ABA Regulatory Compliance Conference in Chicago.
What does it cost? The cost for the MSB Em@il Education Course: $99.00 for a single subscription, or, $79.00 each, for five or more user licenses
How Do You Get Started? To enroll in this 10-day email course, access the enrollment form fill it out and submit it. You will immediately receive an email from us confirming your enrollment in our email education course. Your lessons start immediately. It's that easy. Increasing your banking intelligence has never been more fun or more efficient! You'll want multiple employees within your institution to sign up. What are you waiting for? Click on the button and get started! Every other day you get a Question of the Day!