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This course will review and discuss recent Enforcement Actions issued by the Office of the Comptroller of the Currency and FinCEN to help participants understand the process used by regulators and law enforcement when developing and issuing Enforcement Actions.The session will include Enforcement Actions for banks and money service businesses.
This webinar with address current Enforcement Actions issued by the Office of the Comptroller of the Currency & FinCEN, to include the background of the financial institution involved in the Enforcement Action,the regulatory history of the institution, the specific issues involved with the Enforcement Action, the fine imposed by the regulator and law enforcement,and the expectations for the institution to comply with the articles of the Enforcement Action.
We will review the regulatory history and background of the financial institution involved, the findings of the regulators and law enforcement during examinations and onsite reviews, the reasoning behind the Enforcement Actions, and the expectation of the regulators and law enforcement going forward.In addition, we will discuss policy changes, procedure enhancements, and operational practices the financial institution could have taken to prevent the weaknesses that caused the Enforcement Action.
Thomas E. Nollner has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner (NBE) for the Controller of the Currency where he was a safety and soundness examiner and a compliance examiner. The last 15 years as an NBE and for the past 8 years as a consultant, Mr. Nollner has specialized as an AML/CFT examiner/consultant. In these roles he has analyzed financial institutions’ AML/CFT programs to ensure that they complied with applicable AML/CFT laws, rules, and regulations; he reviewed the suspicious transactions identification, monitoring, and reporting processes;he traced proceeds and transactions through several layers of activity; and he provided AML/CFT training for many different financial institutions. Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the U S Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, he worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.