Virtual Cash, Wallets, Branches, Checks and Real Compliance Issu


Presented by: Deborah Crawford

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New technologies bring new compliance issues for your financial institution. In this program, we will look at the virtual currency issues and the BSA response to those issues. We will discuss the difference between the user, exchanger and administrator of virtual currency. The new market of virtual wallets also creates some challenges. These products are offered both from the banking side and from the mobile application side. Depending on which side you are on, there may be compliance challenges and issues for the development of this smart product. If you are just beginning your trip into the "virtual world" you may be opening accounts online and using remote deposit capture, but you are already uncovering real world compliance issues. This program will look at these issues and products and the life cycle of product development, compliance, third party management and BSA issues in a real world of examiners.

What you will learn:
  • What is virtual currency? Who can begin a virtual currency?
  • Who are the users, exchangers and administrators of these currencies?
  • What are a financial institution's responsibilities in monitoring and documenting the activity of a virtual currency?
  • What is a virtual wallet? What is the product used for and what are the compliance issues?
  • Virtual branches and other online account opening compliance issues
  • The ongoing issues with remote deposit capture and virtual or image checks
  • New products on the horizon and all the new compliance issues
  • Beginning to understand the life cycle of a product from the regulatory point of view
Who should attend?
Retail product development, branch operations, branch compliance personnel, Bank Secrecy Officer and other compliance staff

About the Speaker Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 27+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.

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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in November 2013. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_wallet1113
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 30 September, 2013.

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