AMLA 3nd Annual BSA Conference

BSA/AML HOT TOPICS

October 4, 2013

Christopher Price

Senior Compliance Manager, Regulatory Advisory

Introduction and Overview

• Introduction

• BSA/AML Hot Topics

–Medical Marijuana

–Mortgage Lending

• Other BSA/AML Common Findings

BSA/AML Hot Topics

• Medical Marijuana

–State law vs. federal law

–Federal Regulatory expectations

–Standard and Enhanced CIP

–CDD and EDD

–Filing SARs

BSA/AML Hot Topics

• Mortgage Fraud

–Appraisal Fraud Red Flags

–Red Flags for Loan Modification Schemes

–Reverse Mortgage Fraud

–Developing procedures for service personnel off of RESPA servicing amendments

–The Case of Louis Gendason – Loan Officer

BSA/AML Hot Topics

• Other Common BSA/AML Issues

–Lack of system validation

– Issues with Independent Audit

–Risk Assessment is not adequate

–Program is not Enterprise Wide – does not cover all areas of the bank

Final BSA/AMLComments & Questions

Thank You!

Christopher PriceSenior Compliance Manager Regulatory Advisory ServicesFIS Enterprise Governance Risk and Compliance

800-547-2462 x75039 Office407-309-5039 Direct866-525-6716 FaxChristopher.Price@fisglobal.com