Weed, Cocaine and Heroin. What it means to your bank or credit union

Product Id IQW15C6221
Speaker Doug Keipper
Level Basic & Intermediate
Duration 60 Mins
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This presentation begins by reviewing the narrative section of a Suspicious Activity Report. Then we’ll review today’s marketplace for weed, cocaine and opioids including heroin. We wrap up the presentation by doing a summary review and analysis of the cash transactions that BSA officers and staff use in their investigations.

The Bank Secrecy Act requires banks to monitor for unscrupulous activity such as tax cheats and drug dealers. With today’s supply and demand for drugs it is imperative that your staff is up to date on the trends in the marketplace.

  • How to write the narrative in the suspicious activity report.
  • How to do a criminal background check.
  • Price of weed in each state and amount needed for felony conviction.
  • Marijuana Price index.
  • FinCEN’s expectations regarding Marijuana-Related Businesses.
  • Cocaine’s key terms and pricing.
  • Heroin and the opioid epidemic.
  • Drug Enforcement Agency Fact Sheets from the Drugs of Abuse resource guide.
  • Criminal cases against doctors
  • DEA National Prescription Drug Take Back Day
  • FBI and DEA documentary on opioid abuse
  • Summary review of transactions and what to look for
  • Suspicious Activity Report and Narrative review
 
  • Bank and credit union compliance officers.  
  • Bank Secrecy Act (BSA) Officers. Many times you will see BSA/AML officer titles. AML = Anti-Money Laundering
  • BSA analysts.  
  • BSA investigators.  
  • CFOs.  
  • Bank or credit union operations officers.
 

Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and former BSA officer and compliance officer for an $800M commercial bank in Atlanta before it sold twice in one year. He has taught anti-money laundering throughout the southeast and on-line since 2008. He has spent over 20 years in retail banking, wholesale mortgages and financial services.

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