ATL ACAMS & ACFE Chapters: Lessons Learned from Recent Enforcement Actions

Jay Postma, President, Erica Harper, Director MSB Services, John Schmarkey, BSA/AML Compliance Specialist, and Doug Dwyer, Director Bank Services were pleased to attend the quarterly meeting of the Atlanta ACAMS Chapter held jointly with the Atlanta ACFE Chapter.

Rick Macnamara, AML Risk Supervision, Federal Reserve Bank of Atlanta presented on "Lessons Learned from Recent Enforcement Actions" - 

We have all grown accustomed to reading about BSA/AML enforcement actions and the civil money penalties that go with them. There is no such thing as a perfect BSA Compliance Program. Nor, is there a fail safe way to preclude the possibility of a BSA enforcement action. Still, there is a lot that you can learn from recent enforcement actions.  This presentation form Rick MacNamara focuses on common enforcement action provisions, ties them back to the underlying regulatory guidance, and offers best practices to protect your bank and yourself. Rick has over 25 years of experience as a federal bank supervisor and has a unioque insight into this topic.