What is the purpose of employee training in relation to BSA?

The purpose of employee training in relation to the Bank Secrecy Act (BSA) is primarily to ensure that employees understand the principles of BSA compliance. This understanding is critical because the BSA contains measures designed to combat money laundering and other financial crimes, and employees play a vital role in recognizing and reporting suspicious activities. Proper training helps employees to identify signs of potential violations and equips them with the knowledge to adhere to compliance protocols, thus enhancing the organization's ability to meet its legal obligations and protect against financial crime.

While training may theoretically touch on loan processing, state regulatory requirements, or sales techniques, these are not the core focus of BSA training. The emphasis on compliance principles ensures that employees can contribute effectively to the institution's overall risk management and compliance strategy.