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BSA Coalition Anti-Money Laundering Conference Current Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Environment Dan Soto Community Banking Group.

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Presentation on theme: "BSA Coalition Anti-Money Laundering Conference Current Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Environment Dan Soto Community Banking Group."— Presentation transcript:

1 BSA Coalition Anti-Money Laundering Conference Current Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Environment Dan Soto Community Banking Group BSA Manager Wells Fargo Bank June 17, 2009

2 2 Today’s Environment Government Expectations Emerging Risks Industry Reaction BSA/AML Environment Agenda

3 3 Financial Downturn of Industry: –Leverage of Resources Financial Crimes Credit Risk/Country Risk –New Risk Analysis Who To Bank Where To Bank Consolidation of Industry: –Financial Intermediaries Cross Border Activities: –International Money Movements What We See Today

4 4 Regulatory: –Unlawful Internet Gambling –Suspicious Activity Report (SAR) Sharing –Non-Bank BSA Programs Potential Problem Areas: –Fraud Ponzi Schemes Mortgage Fraud –Terrorist Financing Products/Services: –International Wires/ACH Transactions –Mobile Delivery –Stored Value Cards –Bulk Cash Hot Topics

5 5 Regulatory Expectations –Customer Knowledge –Transaction Filtering and Monitoring –SAR Activity Reviews Other Expectations –Enforcement Actions –Congressional Reports –Government Accountability Office (GAO) Reviews –International Directives Government Expectations From an Industry Viewpoint

6 6 BSA Program Redesign –Deeper Dive Into Risk-Based Analysis –Emphasis on Metrics Transaction Monitoring/Filtering –Better Use of Interdiction Software –Continued Enhancements to Existing Monitoring Systems Reporting –Connecting the Dots –Escalation and Governance Industry Reactions

7 Thank You! Dan Soto Community Banking Group BSA Manager Wells Fargo Bank


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