Speaker: Michael McDonald, Principal, Michael McDonald & Associates
The US money laundering law and the Bank Secrecy Act are two distinctly different statutes. They are both integral pieces of sound anti-money laundering (AML) programs at bank and non-bank financial institutions, trades and businesses, yet “AML” training tends to focus on the BSA with little attention to the more dynamic money laundering statutes.
This webinar will break down the critical differences between the BSA (Title 31) and the principal money laundering statute (Title 18 Section 1956). Each has different elements necessary to bring civil or criminal actions, as well as different fines, penalties and forfeiture provisions, and compliance with one does not necessarily mean compliance with the other. Did you know you can comply with the BSA and still be subject to prosecution and/or civil actions under Title 18 USC 1956?
Link to the Webinar recording: click here