This month FIRE Solutions features a special report called "Troubled Asset Relief Program (TARP) Scams." This excerpt comes from FIRE's AML Current Issues 2010 course and is designed to give the reader a brief overview of the TARP programs, how they could affect financial institutions, and how to identify potential abuses of these programs. The report focuses on seven of the ten TARP programs established by the U.S. Department of Treasury and the Federal Reserve in response to the credit crisis and economic turmoil of 2008. Click here for your copy of the "TARP Program Scams" report.

Click here for your copy of the "TARP Program Scams" document.

AML - Current Issues 2010 is intended for any financial service industry professional interested in the latest developments and trends in anti-money laundering efforts, as well as the changing regulatory environment. This course is also beneficial for AML Compliance Officers and Administrators.

AML - Current Issues 2010 presumes that the reader has a basic understanding of the Anti-Money Laundering requirements under the Patriot Act.

The course focuses on the following topics:

• Developing trends and current issues in the financial services industry
• Efforts to combat money laundering and other abuses of the U.S. financial systems
• Current AML issues that might be faced by registered reps, compliance staff and firm personnel
• 2009/20010AML rules violations and enforcement actions taken against banks and broker dealer firms
• Emerging money laundering trends and enforcement agency focus
• Suspicious actions and client behaviors that are considered red flags for the latest abuses of our financial systems

Hughlights of the course include:

• FINRA's new AML rule
• Updated correspondent and private banking account requirements
• Definition and responsibilities of Publicly Exposed Persons (PEPs)
• 4 types of foreign institutions that require due diligence
• The 5 risk factors of correspondent accounts
• Minimum standards for foreign bank due diligence
• General filing trends
• Case study – mortgage fraud
• The red flags of foreclosure rescue scams
• Abuses of the Troubled Asset Relief Programs (TARP)
• Due diligence and red flags to detect TARP scams
• FinCEN’s advisory on North Koreas abuse of the U.S. financial systems
• Report on abuse of charities for money laundering and tax evasion

For a more detailed explanation of the AML Current Issues 2010 course, contact one of our sales representatives. A link to FIRE's catalog outlining our 2010 Firm Element CE, Annual Compliance Meeting topics, Insurance CE, CFP, and Securities Licensing courses, is available here.

Other Key Updates

In 2010 FIRE will be adding FINRA's full line of e-learning courses to our catalog. Combined with our development efforts FIRE Solutions will be adding 26 new courses in total.

For more information, contact Eric Sternbach at esternbach@firesolutions.com.