Credits: 1.25 CFSSP, CSOP, CERP
Description: Focuses on steps to assess the risk of unlawful Internet gambling transactions conducted through a commercial loan or deposit account. Outlines requirements associated with blocking restricted transactions conducted with debit and credit cards, providing notice to commercial account holders, and crafting an action plan for banks that discover UIGEA violations.
Audience: All Frontline Compliance employees who open commercial accounts (deposit or loan) or who answer customer questions concerning debit or credit card transactions.
After completing this course, students will be able to:
- Describe key points of a bank’s policy related to new account screening for unlawful Internet gambling
- Explain what should be included in a bank’s card transaction policy to block unlawful transactions made via credit and debit cards
- Explain the methods used to communicate restricted transactions to customers under the commercial account policy
- Describe options a bank may implement as part of a remedial action policy when unlawful transactions are discovered
This course is part of the ABA Frontline Compliance program.
Updated: July 2020