CCUL Headlines: Compliance

BSA/AML Conference covers REAL ID, tax fraud, other hot topics

Tuesday, January 16, 2018   (0 Comments)
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Top: CCUL Auditor LeVar Anderson on BSA exams. Bottom: Randy Berkland, USPIS on Financial Crimes Task Force

The CCUL Compliance Department hosted its annual BSA/AML Conference on January 10, 2018 in Charlotte, NC. This year’s conference combined North and South Carolina professionals and focused on identification and tax fraud, SARs, REAL ID, and other hot topics.

Randy Berkland of the U.S. Postal Inspection Service kicked off the conference with a presentation on the Financial Crimes Task Force and its value to credit unions. The task force investigates many crimes such as check fraud, identity theft, embezzlement, and “community impact” like mass data breaches.

Evette Davis from the Internal Revenue Service (IRS) presented on the 2017 Dirty Dozen: Tax Scams and Schemes, an annual list of common scams taxpayers may encounter throughout the year and especially during tax season. Other presentations included analyzing SARs, BSA and successful prosecutions, bitcoin and virtual currency, and passport and visa fraud.

Breakout sessions included a REAL ID panel with Torre Jessup, commissioner of the NC Department of Motor Vehicles (DMV) and Karl McClary, inspector general of the SC DMV. They encourage everyone to research REAL ID requirements on their state's DMV website. NC has started the REAL ID process and SC will begin later in 2018. All states must implement REAL ID by October 1, 2020.

During afternoon breakout sessions, CCUL Auditor Levar Anderson coached attendees on how to ace a BSA Exam. LeVar reviewed what examiners look for in an exam, common mistakes, and the lines of business a risk assessment should include.

CCUL Compliance offers custom training on various topics, including BSA staff and board training. Please use the custom training request form to schedule training today.

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