Managing an Effective AML Compliance Program: 2-day In-Person Seminar

By: Laura H. Goldzung, President and Founder of AML Audit Services, LLC
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“Managing an Effective AML Compliance Program” – This course is approved by NASBA (National Association of State Boards of Accountancy). Seminar attendees are eligible for 17 CPE credits upon completion of this workshop.

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Course Description:

Are the financial transactions within your organization subject to money laundering risk? Do you have a robust internal controls program that focuses on mitigating the greatest AML/Fraud risks? Are your employees aware of the red flags within all financial transaction business processes and know what to do if they find unusual or suspicious activity? Are your company and management are up to date on its compliance requirements and the potential impact of non-compliance?

Whether you need to get back-to-basics or you are a seasoned AML professional, join us as we explore the many facets of managing an effective AML compliance program: Join us as we focus on the following key elements:

  • Regulatory frameworks surrounding anti-money laundering
  • Objectives of an effective AML compliance program
  • Risk assessing your institution
  • Developing robust internal controls
  • Training for appropriate personnel
  • Expectations and duties of the appointed compliance officer
  • Effective audit program to ensure adequacy of your AML compliance program

Learning Objective:

Key goals of this course are:

  • To provide an understanding of money laundering and how it can impact an institution
  • To review the importance of “tone at the top” and how to implement a compliance-friendly environment
  • To learn about the critical internal controls and how these controls can protect your institution
  • The course will focus on the 4 pillars of an AML compliance program:
    • Policies, procedures and internal controls
    • Designation of a compliance officer
    • Training for appropriate personnel
    • Independent audit
  • To understand the importance of the risk assessment
  • To focus on the senior management/board of directors oversight of the Program
  • To discuss customer due diligence and know your customer expectations
  • To discuss knowing your high risk customers
  • To review implementation steps for enhanced customer due diligence
  • To discuss red flags indicating unusual or suspicious activity
  • To understand detection and reporting requirements under the Bank Secrecy Act
  • To discuss recent case studies

Who will Benefit:

BSA/AML Officers, Compliance Officers, AML Analysts, Operations Managers, Remittance Analysts, Consultants, Internal Auditors, Accounting and Finance Directors, Internal Auditors, Legal Departments, Compliance Officers, and Risk Managers at Banks, Broker-Dealers, Residential Mortgage Lenders & Originators, Precious Gems Traders, Money Services Businesses and other nonbank financial institutions.

  • Risk Management
  • Legal
  • Regulatory
  • Compliance
  • Audit


We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200,, e-mail

Field of Study:

  • Administrative Practice: 1.2 Credits
  • Auditing: 0.6 Credit
  • Business Management & Organization: 7.8 Credits
  • Communications: 2 Credits
  • Computer Science: 1.8 Credits
  • Personnel/HR: 0.6 Credit
  • Social Environment of Business: 1 Credit
  • Specialized Knowledge and Applications:2 Credits
  • Total CPE credits earned in this seminar: 17 CPE Credits

Program Delivery Method: Group-Live
Program Level: Basic
Advance Preparation/Program Prerequisites: None

Course Outline:

Day One (8:30 AM – 5:00 PM)
Registration Process: 8:30 AM – 9:00 AM
Session Start Time: 9:00 AM

9.00 AM - 12.00 PM: Understanding the Basics (3 Hours)
  1. Money Laundering Basics
  2. Regulatory Overview
    1. U.S. Federal Regulating Agencies
    2. History of U.S. Money Laundering Regulation
    3. Bank Secrecy Act
    4. USA PATRIOT Act
    5. U.S. Federal Statutes
    6. Role of Regulators & Expectations
  3. The Four Pillars
    1. Policies, procedures & internal controls
    2. Appointment of Compliance Officer
    3. AML Training
    4. Independent Testing
  4. Oversight & Management
    1. “Tone at the Top”
    2. AML Governance
    3. Compliance Task Force
    4. Fostering Partnerships in LOBs
    12.00 - 1.00 PM: Lunch
    1.00 PM - 4.30 PM: Managing Money Laundering Risk (3.5 hours)
  5. Developing a Risk Assessment
    1. Identifying high risk activities in the institution
    2. Knowing your high risk customers
  6. Customer Identification Program (CIP)
    1. Conducting Customer Due Diligence (CDD)
    2. Enhanced Due Diligence (EDD)
    3. Know Your Customer (KYC)
  7. Office of Foreign Assets Control (OFAC) & Sanctions Programs
    1. Multinational Issues
    2. History of Economic Sanctions Programs
    3. Screening tools
    4. Hits – Blocking & Rejecting
    5. OFAC Risk Assessments
    6. OFAC Reporting & Documentation
    7. Enforcement Guidelines
Day Two (8:30 AM – 4:30 PM)
8.30 AM - 8.35 AM: Welcome & Recap of Previous Topics
8.35 AM- 10.35 AM: Monitoring & Reporting of Suspicious Activities (2 Hours)
  1. Transaction Monitoring
    1. Manual Vs. Automated
    2. Managing & Fine Tuning Alerts
  2. Investigate Protocols
    1. Defining Suspicious Activity
    2. Escalation & Referrals
    3. Case Management
  3. Reporting & Recordkeeping
    1. CTR & CTR Exemptions
    2. CMIR
    3. Travel Rule / Funds Transfers
    4. Monetary Instruments
    5. FBAR
    6. Form 8300
    7. SARs
    10.35 - 11.15 PM: Repercussions (40-Minutes)
  4. Failure to Comply
    1. Criminal & Civil Penalties
    2. Common Deficiencies Causing Enforcement
    11.15-12.00 PM: Case Studies (45-Minutes)
  5. Case Studies
    1. What Went Wrong?
    2. Contrast & Compare
12.00 PM - 12.45 PM: Lunch
1.00 PM - 1.45 PM: Issues & Answers: Open Discussion (45-Minutes)
1.45 PM - 4.15 PM: Workshop & Exercises (150 minutes)
4.15 PM - 4.30 PM: Wrap Up

Meet Your Instructor

Laura Goldzung
Laura H. Goldzung
President and Founder of AML Audit Services, LLC

Laura H. Goldzung is President and Founder of AML Audit Services, LLC, an anti-money laundering and fraud consultancy specializing in independent testing and compliance consulting services to financial and nonbank financial institutions. Mrs. Goldzung’s expertise include domestic and international training, design and development of BSA/AML compliance programs, risk assessment and analysis, remediation and corrective action programs, expert witness testimony, and CFPB compliance benchmark assessments. She has worked with institutions that have been referred to enforcement for BSA/AML violations, helping them to bring their AML programs into compliance.

In her more than 25 year career in the financial services industry, she has worked in a variety of executive roles, most notably as vice president and managing director at the Securities Industry Association where she assisted member-firms in coordinating the implementation of the Patriot Act and the development of AML training. In prior years, she served in executive management roles in the broker-dealer sector.

Operating from offices in the historic Morristown, New Jersey area, she serves as an industry arbitrator for FINRA Dispute Resolution and is active with several industry groups including the Association of Certified AML Specialists, SIFMA’s Compliance & Legal and Internal Audit Societies, Association of Certified Fraud Examiners, National Society of Compliance Professionals, to name a few. She services on a variety of industry task forces and committees, and is faculty for a number of industry education programs. She is a frequent speaker and contributor on the topic of anti-money laundering and fraud.

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Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $300 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days from the start date of the event.

On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($300) will be transferred to any future GRC Seminars event and a credit note will be issued.

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We discourage onsite registrations, however if you wish to register onsite payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available we will send the material after the conference is over.

In the event GRC Seminars cancels the seminar, GRC Seminars is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.

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All topics were valuable. Laura was an excellent presenter. She has lot of excellent practical job experience in AML and gave good real life examples from her own experience. I learned a lot! Very nice portfolio and pen provided. Also the presentation on thumb drive was nice one. I appreciate the variety of courses (On-line & In- Person) provided by GRC Seminars.
- Senior Auditor, Federal Reserve Bank of Atlanta

The presenter was very knowledgeable with the topic. Risk assessment topic was very valuable because it is the cornerstone of an effective AML program.
- Audit Manager, American International Group

The presenter was excellent session leader, very knowledgeable and well-spoken. The topic was well chosen and interaction between the participants and the presenter was good.
- Assistant Treasurer, Cumberland Gulf Group of Companies

The presenter was very knowledgeable and subjects were well chosen.
- AML/BSA/OFAC Officer, GE Capital Retail Bank

Overall it was good seminar. The topic AML monitoring was very valuable as it pertains to my job function.
- Senior BSA/AML Analyst, AVP, Texas Capital Bank

The presenter was knowledgeable. The topic on Oversight & Management was most valuable; it gave me a big picture.
- Branch Manager, Bank of China, Chicago Branch

It was good seminar. The topic on reporting forms was most valuable.
- Deputy Chief Compliance Officer, American International Group

It was a good baseline. All topics were very valuable and informative.
- Senior Product Manager, ACI Worldwide

The presenter was very knowledgeable. Understanding the basic topic was very informative.
- Lead - Business Risk & Fraud Analyst, Federal Reserve Bank

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