BSA: Marijuana Businesses, Virtual Currency and Model Validation

Duration: 90 Minutes
This session will offer insights into the application of BSA Requirements on the burgeoning business of medical and recreational marijuana and the silent but effective virtual currency markets and uses, while discussing ways to validate BSA models and applications in monitoring and alerting an institution to potential Money Laundering and other related threats. Keeping up with technology and social changes are two important factors in maintaining an effective and reliable BSA program in dealing with Money Laundering and Terrorism Financing.
BSA requirements for Marijuana Businesses
Product ID: 501485
Objectives of the Presentation
  • Identifying the Marijuana Business, and establishing the relationship
  • Determining the monitoring factors, onboarding procedures and data collection necessary to develop a program
  • What is Virtual Currency, how does it function, can I touch it? Do you have to?
  • What is a Virtual Currency Business, what concerns do you have?
  • Modifying ones AML/CIP/KYC programs to address increased responsibilities and identify potential threats
  • How is a Risk Model applied in this matter in order to assist in monitoring requirements?
  • Determining if current AML processes can handle the expanded obligations
  • Ongoing process monitoring and AML concerns
Why Should you Attend
Does your institution have, or is it contemplating working with cutting edge industries? If so, are you capable of handling the specific matters that concern such businesses and its operators? Are you willing to admit that you don't know what you don't know? If so, then attending this webinar will provide you the foundation necessary to develop and or modify existing operational systems in order to properly handle, monitor and successfully fulfill reporting requirements under BSA and other banking regulations.

Areas Covered
  • Marijuana Business and current federal and state rules
  • What is Virtual Currency, who created it, what are its applications, how does it work within the traditional financial networks?
  • The application of current AML requirements to the new technology and business operations
  • Identifying threats and preventing them
  • The Application of Risk Models and their use in Monitoring increased transaction activity
  • Ongoing process monitoring and AML matters
Who can Benefit
  • AML/BSA officers and consultants
  • AML/BSA software developers
  • Risk and compliance management personnel
  • Regulatory compliance associates and managers
  • Company management
  • Audit professionals
Topic Background
This topic is an amalgamation of ongoing and developing matters in the AML field, current expectations under BSA and similar regulations and the application of current monitoring and oversight functionality in order to deal with a shifting and expanding business world and customer base.
$300
Recorded Session for one participant
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Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Warren R. Markowitz is an attorney and veteran compliance officer. He has been an active participant in the world wide financial sector since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an adviser through consulting and technology advisory firms with whom he maintains relationships. His real world experience with regulatory bodies has enabled him to represent his clients with a perspective on resolving matters or concern and avoiding new ones.
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