Anti-money laundering (AML) schemes are always evolving. This creates challenges for financial institutions in identifying and preventing such schemes. The Bank Secrecy Act of 1970 (BSA) was created with this purpose in mind.. It is important for all financial institutions to be in compliance with the BSA and other anti-money laundering regulations. In addition, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT Act) or the Patriot Act made several significant amendments to anti-money laundering laws and greatly broadened the definition of a financial institution. In addition, financial institutions must be compliant with consumer protection laws, such as the Fair and Accurate Credit Transaction Act (FACT Act), which focuses on the prevention of identity theft.
AllRegs Academy’s Anti-Money Laundering Certificate Program is a unique program designed to recognize those individuals who have a strong understanding of anti-money laundering laws and practices in the mortgage industry; spanning the fundamentals, consumer protection laws and lender responsibilities. The Anti-Money Laundering Certificate Program is available to mortgage industry professionals exclusively through AllRegs. In order to earn the certificate, students must successfully complete all three required online self-study courses in the program. Click on the product below to get started.