International Money Transmitters Conference - West 2012May 31, 2012
During the Compliance Seminar series of the International Money Transmitters Conference West 2012 conference held in Los Angeles, Jay Postma, CAMS, President and Fernanda Medina, CAMS, BSA/AML Compliance Specialist presented.
Mr. Postma presented on Managing Bank Compliance Relationships which focused on helping participants to better recognize and understand a bank's needs and concerns when servicing money transfer operators. The presentation and discussion covered consideration of constructive avenues of communication to build, establish and maintain bank relationships. Participants learned how to better demonstrate respect for the bank relationship, recognize its value, and demonstrate leadership in meeting mutual goals and responsibilities.
Ms. Medina presented on managing correspondence compliance relationships with presentation titled "Aggregators/Respondents: How far down the payment you need to go." Terminology and the specific requirements under the Bank Secrecy Act were discussed. Participants were then lead through a discussion of potential risks and consideration of ways to mitigate risk.
MSB Compliance Inc. was also a Bronze Sponsor of the conference and maintained a booth at the trade show.
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