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.
- 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
- 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.