LENDERS COMPLIANCE GROUP

SCOPE OF ENGAGEMENT – TRAINING

Lenders Compliance Group, Inc. provides comprehensive training, either on-site or off-site, and provides sign-in and completion statements to participants.

Course Outline

Training Curriculum

  • Money Laundering and Terrorist Financing
  • Red Flags
  • The Bank Secrecy Act
  • The USA PATRIOT Act
  • Government Agencies
  • Suspicious Activity Reporting Requirements
  • Money Laundering Typologies
  • Completing a Suspicious Activity Report (SAR)
  • Customer Identification Program

Learning Objectives

  • Gain an understanding of money laundering and terrorist financing and their adverse effects on mortgage professionals, including a review of associated red flags.
  • Explore the Bank Secrecy Act, including a brief history, objectives, coverage, requirements, and penalties.
  • Briefly take a look at the USA PATRIOT Act, specifically its coverage in relation to the mortgage profession.
  • Examine the role of government agencies in the prevention of money laundering.
  • Review the requirements for an appropriate compliance program, including the requirement to report large currency transactions.
  • Review Suspicious Activity Report requirements.
  • Explore the need for a Customer Identification Program, including requirements and methods for properly identifying customers.
  • Analyze subjects such as risk management and information sharing.