Bank Secrecy Act Compliance for Loan and Deposit Accounts

Employees responsible for opening loan and deposit accounts play a key role in ensuring compliance with the Bank Secrecy Act (BSA).

This course provides a practical, role-based overview of BSA requirements, including:

• Customer Identification Program (CIP) requirements and procedures
• Customer Due Diligence (CDD) expectations and risk profiling
• Monitoring activity of high-risk members
• Identifying beneficial owners of legal entity members
• Office of Foreign Assets Control (OFAC) requirements
• Identifying suspicious transactions common to new accounts

Participants will gain a clear understanding of how these requirements apply in real-world account opening and servicing scenarios, helping to ensure accurate documentation, effective risk assessment, and proper escalation when concerns arise.

This course is one of three designed to be taken together to meet regulatory expectations that BSA training be tailored to each employee’s specific job responsibilities.