Bank Secrecy Act for Managers: 05. Exceptions to the Rule
Learning objectives
- Gain an understanding of the exceptions to the rules of BSA/AML guidelines.
Course overview
Typically, when an organization or individual makes a money exchange, like withdrawing or depositing $10,000, you have to file a currency transaction report, or CTR, to help prevent money laundering, but there are exceptions. In this program, werll walk through the guidelines provided by BSA/AML regulations for exempting certain businesses from currency transaction reporting requirements. Werll go over the two categories of exempt businesses: Phase I and Phase II. Werll talk about which businesses fall into these categories, and why.
The individuals involved in the development and promotion of this course do not receive any compensation or financial benefits outside of their regular employment for their work on this course.
