Money Laundering and Terrorist Financing the Focus of BSA360

BankersHub to host six webinars on Bank Secrecy Act and Anti-Money Laundering March 26, 2015

Feb 19, 2015, 15:00 ET from Bstuff LLC

MADISON, Wis., Feb. 19, 2015 /PRNewswire/ -- In the years since 9/11, the critical focus by federal agencies on criminal financial activities such as money laundering, terrorist financing, and financial exploitation of at-risk adults has never been more intense. According to a 2014 report by the Treasury Department, Suspicious Activity Reports (SARs) filed by financial institutions increased almost 25% from 2010 to 2013, with 1.6 million filed in 2013 alone.

Bstuff LLC, dba BankersHub (, one of the fastest growing online education portals in financial services, will host a full day of online webinars March 26 covering Bank Secrecy Act and Anti-Money Laundering. "All financial institutions, regardless of size, location and product offerings are vulnerable to servicing individual criminals, groups of criminals and criminal organizations. Likewise, all financial institutions are vulnerable to facilitating terrorist financing," says BSA360 presenter Dennis Lormel, President of DML Associates and former Terrorist Financing Operations Chief for the FBI. After 9/11, Mr. Lormel realized the terrorists needed a financial infrastructure to accomplish the attacks and he established an investigative organization within the FBI that, within days, identified the funding that supported these attacks.

Mr. Lormel emphasizes the importance of keeping compliance staff at financial institutions current not just on laws and regulations, but also on staying a step ahead of criminals and terrorists. "Compliance professionals not only play an important role in defending the economic threat posed by criminal enterprises but they also play a role in safeguarding national security from terrorist groups. By understanding how criminals and terrorists exploit financial institutions to facilitate their illegal activities, the back office becomes the frontline of defense in taking steps to identify and disrupt the flow of funds for nefarious purposes," he notes.

Other event speakers include Thomas Williams, Senior Vice President and Compliance Director for United Bank, and Terri Sands, Senior Vice President for Payments Oversight at State Bank and Trust Georgia. "We are very excited to have such great industry speakers for this timely event," notes Michael Beird, BankersHub Co-Founder. "Both Thomas and Terri bring years of experience helping financial institutions understand the BSA/AML regulatory environment and how it protects both institutions and at-risk customers."

More information on this full day event can be found at

Contact: Erin Handel