NCUA and FinCEN to Host Joint Seminar on Bank Secrecy Act

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NCUA Contact: (703) 518-6330, FinCEN Contact: (703) 905-3770
Immediate Release
Compliance Programs

The National Credit Union Administration and the Financial Crimes Enforcement Network today announced that they will jointly host a seminar over the web "BSA: A Year in Review and Setting the Table for 2007." The seminar, known as a webinar, will take place on Tuesday, February 6, 2007 and will be co-hosted by JoAnn Johnson, Chairman of the National Credit Union Administration (NCUA), and Jamal El-Hindi, Associate Director of the Regulatory Policy and Programs Division at the Financial Crimes Enforcement Network (FinCEN).

The webinar is aimed at providing information and guidance to credit unions on their BSA obligations. Topics of discussion during the webinar will include:

  • NCUA's BSA Examination Program
    • Top BSA Compliance Issues
    • Recent Regulatory Changes
    • How to Prepare for a BSA Compliance Review
  • FinCEN's Role as BSA Administrator
    • The Value of BSA Data
  • Interactive Q&A
The webinar/seminar will be held from 2:00-3:00 p.m. (EST). Additional information and registration details will be posted early next week.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions.

The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, is the administrator of the BSA. FinCEN has promulgated regulations requiring financial institutions to report suspicious transactions, as well as implement anti-money laundering and customer identification programs. Financial institutions currently subject to these requirements include, among others, credit unions.

Financial Institution
Depository Institutions