Managing BSA risk of new payment methods


Presented by: Deborah Crawford

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  New payment mechanisms and systems bring increased BSA risk. When your customer or bank offers or uses new payment mechanisms you must look at the inherent risk and how it can be mitigated. Sometimes this is a simple process of looking at limits and frequencies; in other cases, it requires much more.

Products and services affect your overall risk from a bank-wide perspective, so you need to understand them, how they will be used, how to track, detect, and report suspicious activity. During this webinar, we will look at new types of payment mechanisms, how to adjust your risk assessments for them, and how to investigate unusual customer activity with these payment methods.

We'll discuss:
  • Person to Person Payments
  • Square, Venmo, PayPal-settlement companies
  • Bill payment
  • Prepaid cards
  • Virtual currency
  • Issues with Third Party Payment Processors
  • Vendor management
  • CFPB's consumer protection principles on new payments
  • Consumer protection on prepaid cards from Regulation E
  • Developing and changing risk assessments
  • Investigations and filing of SARs
Who Should Attend:
BSA Officer and staff, Risk Management, Compliance, Audit, Operations and Security

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  • Model: cd_payment1116
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Wednesday 17 February, 2016.

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