BSA/AML: Why is Compliance so Important?

Be sure to JOIN US for “BSA/AML: Just for Lenders” and/or the “BSA/AML: Just for Operations”.

With the ongoing situation in Ukraine, you are probably trying to wrap your head around what seems like almost daily changes with regard to Russian sanctions. Whether it’s OFAC sanctions or FinCEN’s Red Flags for potential sanctions evasion, there has been a lot. It’s important that this information doesn’t only stay within your BSA Department. Your lenders and operations personnel need to know what types of red flags to look for and those red flags might differ depending on their specific job duties.

In times like these, it’s important to remember why BSA/AML compliance is so important.

Kevin explains more in the video.