The various sections of the USA PATRIOT Act and implementing regulations in the Bank Secrecy Act have been in final form for several years now. This course will discuss the practical applications of the regulatory requirements,
with an emphasis on nested accounts. It is designed for both U.S. financial institutions offering correspondent banking as well as for foreign financial institutions which have or are seeking U.S. correspondent banking
relationships. U.S. financial institutions will acquire practical knowledge to apply to their correspondent compliance programs. Foreign financial institutions will have a better understanding and appreciation for the requirements
of the correspondent bank and be better able to demonstrate its compliance program and contract requirements.