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Credit Union Compliance Training

CU Training’s credit union compliance training gives employees at all levels the information they need to minimize risk and maintain compliance, helping to reduce the risks and costs of non-compliance. Choose from a wide range of regulatory compliance topics including: anti-money laundering (AML), the Banking Secrecy Act (BSA), the Banking Bribery Act, Code of Conduct, the Credit Card Act, FACTA, health and safety, identity theft, FACT, fraud prevention, Elder Financial Abuse, privacy and security, workplace violence and harassment, Money Services Businesses, Office of Foreign Assets Control (OFAC), the USA Patriot Act, and many more. It’s a comprehensive compliance library for all your staff training needs.

Click on a series title below to view its course listings and descriptions.

AML00 AML Bulletins Monthly case studies and discussion on current anti-money laundering/anti-terrorist financing (AML/ATF) events and issues. Provided in partnership with AML and fraud experts, MNP LLP, these bulletins are intended to assist efforts to assess, document, and control risks. These bulletins are designed to form an integral part of your ongoing training program, and can be used for independent study, or as the basis of an informed team discussion.
AML01 AML for Chief AML Officers Describes the required components of a Canadian credit union’s AML/CTF compliance program, FINTRAC’s expectations of those components, and related best practices. Examines what you can expect during FINTRAC examinations, and discusses the potential for administrative monetary penalties and fines.

Topics: your CU Compliance Program, FINTRAC, Bill C-9, additional resources, examinations, action plans, timelines, administrative monetary penalties, Bill C-9, tax evasion, due diligence.
AML02 AML Basics Discusses the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) legislation applied to financial entities and intermediaries. Examines how the PCMLTFA plays an important role in protecting Canada’s economy and security, and supporting our international responsibility to detect and deter money laundering and terrorist financing activities.

Topics: definition of money laundering, stages of money laundering, terrorist financing, money laundering & terrorist financing legislation, compliance and penalties, FINTRAC, verifying identity, record keeping requirements, reporting requirements, suspicious transactions, identifying suspicious transactions and activities, terrorist property, prescribed transactions, know your members.
AML03 AML for Board and Senior Management Examines how credit union boards and senior management play a vital role in maintaining an effective anti-money laundering/anti-terrorist financing compliance regime. Discusses how legislative requirements to deter, detect, and report money laundering and terrorist financing activities affect all areas of a credit union’s operations, and how compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLFTA) and its regulations can help deter illegal activities.

Topics: United Nations Act, Financial Action Task Force, corruption of foreign officials, other regulatory bodies, PCMLFTA, AML-ATF compliance programs, board and management oversight, roles and responsibilities, board’s role in risk management, compliance program requirements, penalties for non-compliance, criminal penalties, red flags.
AML04 AML Reporting – STRs & LCTRs Introduces the requirements set out in the PCMLTFA for Suspicious Transaction Reports (STRs) for reporting suspicious transactions and attempted transactions, Large Cash Transaction Reports (LCTRs) for reporting cash transactions of more than $10,000, and Terrorist Property reports for reporting property held or controlled by the credit union that may belong to or be controlled by known terrorists or terrorist groups.

Topics: Suspicious Transactions, Suspicious Transaction Reports (STRs), failure to comply, red flags, Large Cash Transactions (LCTs), Large Cash Transaction Reports (LCTRs), LCT report alternatives, agent agreements.
AML05 AML Reporting – Wires and EFTs Discusses how The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its supporting regulations set out strict requirements for reporting and record keeping related to sending wires and Electronic Funds Transfers (EFTs) to and from Canada.

Topics: definition of an EFT, incoming and outgoing EFTs, non-SWIFT EFTs, exceptions to incoming SWIFT/Non-SWIFT EFTs, exception to the 24 hour rule, identification requirements, originator information, EFTs in foreign currency, other important checks prior to an EFT submission, red flags.
AML06 AML for Lenders Money laundering through loan fraud is a multifaceted activity that includes several types of criminal activities. This course examines money laundering in the lending industry, money laundering in construction lending, external real estate money laundering schemes, when a forfeiture of illicit funds may be warranted, insurance and securities money laundering risks, and red flags in lending.

Topics: money laundering in lending, construction lending, money laundering via real estate, red flags, forfeiture of illicit funds, insurance, securities.
AML07 AML – Risk-Based Approach As well as meeting requirements for client identification, record keeping, and reporting, evaluating your credit union’s exposure to risk from money laundering is a regulatory necessity. This course examines how a risk-based approach analyzes risks inherent in the credit union’s business (including its products and services), delivery channels, geographic locations, member relationships and any other relevant risks.

Topics: Canada and the Financial Action Task Force, the Risk-Based Approach, risk assessment, relationship risks, risk assessment factors, risk level assessment matrix, legislated and generic risk controls, risk-focused controls, dealing with members and risk measures, management’s role, effectiveness, penalties.
AML08 AML for CUETs Financial Discusses the requirements for an agent acting on behalf of CUETS Financial for MasterCard credit card applications and accounts.

Topics: AML procedures for consumer credit card account applications supporting CUETS’ Know Your Customer requirements, regulatory compliance requirements for Business credit card account applications, supporting CUETS’ Know Your Business efforts, requirements for verifying identification and documentation specific to each type of account.
REG01 Privacy Examines the concern for protecting personal information, and how organizations collect and use information. Discusses the Canadian Personal Information Protection and Electronic Documents Act (PIPEDA) and the Personal Information Protection Act (PIPA), designed to safeguard the collection and use of personal information.

Topics: privacy laws – PIPEDA and PIPA, 10 privacy principles, standards, procedures, opting out, complaints.
REG02 & REG02ON Health and Safety for Managers This course helps managers and supervisors understand their responsibilities under occupational health and safety laws. Discusses working with employees and the joint health and safety committee to prevent and minimize workplace hazards, reporting and investigating accidents and incidents, and their role in changing workplace policies and procedures to improve health and safety.

Topics: OHS program and provincial legislation, Bill C-45, due diligence, joint health & safety committee, workplace safety inspections, accidents, incidents & occupational diseases, accident response & first aid, accident & incident reporting and investigations, preventions, fire safety, evacuation procedures, earthquakes & emergency preparedness, back health & safe lifting, office ergonomics.
REG03 & REG03ON Health and Safety for Employees This course helps employees understand their rights and responsibilities under occupational health and safety laws. Discusses sound work practices and procedures to ensure the health and safety of everyone in the workplace.

Topics: OHS program and provincial legislation, Bill C-45, due diligence, joint health & safety committee, workplace safety inspections, accidents, incidents & occupational diseases, accident response & first aid, accident & incident reporting and investigations, preventions, fire safety, evacuation procedures, earthquakes & emergency preparedness, back health & safe lifting, office ergonomics.
REG04 Workplace Violence and Harassment Violence or harassment in the workplace can affect all business sectors and occupations. Members, clients, patients, students, workers, intimate partners, or family members may hurt, threaten, or harass workers while they are on the job. This course examines various aspects of workplace violence and harassment.

Topics: workplace violence and harassment definitions, persons with a history of violent behaviour and domestic violence, procedures, preventative measures and defusing techniques.
REG05 Workplace Hazardous Materials Information System (WHMIS) The Workplace Hazardous Materials Information System (WHMIS) is a hazard communication system developed by Canadian federal, provincial, and territorial governments. This course discusses how WHMIS can help ensure a safer and healthier workplace. It has been updated to reflect changes to the Hazardous Product Act and the new Hazardous Products Regulations passed to implement WHMIS 2015, which include the standardized Globally Harmonized System of Classification and Labeling of Chemicals (GHS) as developed by the United Nations. This legislation provides a period to transition from WHMIS 1988 to WHMIS 2015, to give suppliers time to meet new classification, labelling, and Safety Data Sheet standards, and for employers to train workers. This course will continue to cover both systems until December 1, 2018, when WHMIS 1988 will no longer be used in Canada.

Topics: introduction to WHMIS, WHMIS labels, material safety data sheets, worker education and training, WHMIS classes and symbols, classes A to F - hazardous materials, WHMIS 1988, WHMIS 2015, standardized Globally Harmonized System of classification and labelling of chemicals (GHS)
REG06ON Member Services Accessibility Standards for Managers Provides training in key areas of accessibility legislation to help decision and policy makers and employees who deal with members meet their compliance requirements. This course is designed for employees who develop the policies, procedures, and practices used by your credit union, and management and board members who will approve those policies and procedures.

Topics: accessibility for Ontarians with disabilities act, accessibility standards for customer service, integrated accessibility standards, definition of disability and barriers, rules and principles, policies and procedures, the basic steps, compliance requirements: communicating with people with disabilities, service animals, support persons, assistive devices, service disruption requirements, feedback requirements, what…who…when training requirements, reporting compliance, documentation requirements.
REG07ON Member Services Accessibility Standards for Employees Discusses Accessibility Standards for Customer Service, Ontario Regulation 429/07, which is legislation that complies with the Accessibility for Ontarians with Disabilities Act, 2005 (AODA) and applies to all businesses in Ontario with at least one employee.

Topics: accessibility for Ontarians with disabilities act, accessibility standards for customer service, integrated accessibility standards, definition of disability and barriers, rules and principles, policies and procedures, the basic steps, compliance requirements: communicating with people with disabilities, service animals, support persons, assistive devices, service disruption requirements, feedback requirements, what…who…when training requirements, reporting compliance, documentation requirements.
REG08 Foreign Account Tax Compliance Act (FATCA) Provides background on the Foreign Account Tax Compliance Act (FATCA), the intergovernmental agreement (IGA) between Canada and the US, and the application of these to credit unions. Examines the obligations, reporting requirements, and applicable information needed to adhere to the Act, and will enable employees to respond effectively to members’ questions regarding FATCA.

Topics: FATCA background, obligations and reporting requirements, history of FATCA and the IGA, implementation dates, categories of Canadian financial institutions, IRS registration, due diligence for existing and new accounts, day-to-day impact of FATCA and the IGA.
REG09 Canadian Anti-Spam Legislation (CASL) Canada’s Anti-Spam Legislation (CASL) has significant implications for credit unions’ marketing, sales, and risk management departments. This course explains the terminology, acronyms, objectives, and legal requirements of the legislation.

Topics: spam, CASL, CASL and spam, effective dates, commercial electronic messages (CEMs), CASL and consent, CEMs and identification, CEMs and unsubscribe mechanisms, penalties of non-compliance.
SEC01Robbery and Physical Security This course provides frontline staff with the tools to handle extremely stressful situations. Discusses how to help prevent robberies, identify security risks, and what to do and not do before, during, and after a robbery.

Topics: prevention techniques, case studies, types of robberies, minimizing the damage, witnessing, taking action, steps to take after a robbery, robbery package, emotional support, next steps.
SEC02 Fraud Prevention Introduces the most common types of member and credit union fraud, and explains how to recognize and prevent fraudulent activities and transactions.

Topics: definition of fraud, forgery, personation and false pretence, types of fraud, credit/debit card fraud, debit card fraud and skimming, cheque fraud, identifying bad cheques, cheque kiting, identity theft/fraud, new account fraud, common fraudulent scams, fighting back against fraud.
SEC03 Identity Theft Examines all aspects of identity theft, including the types of information that criminals deal in, the methods by which identity information is collected, and the ways it is used by criminals.

Topics: definition of identity theft, the legislative background, What is identity data, Social Insurance Number, establishing identity - know the member, property theft and pretexting, mail theft and dumpster diving, credit/debit card skimming, internet and electronic theft, protecting against identity theft, the identity theft statement.
SEC04 Card Fraud Discusses the most common forms of card fraud and the methods used to skim cards and fraudulently obtain card data. Explains how to recognize ATM and POS terminal tampering, and describes the CHIP and PIN technology implemented by the credit union system and card issuers to prevent card fraud.

Topics: types of card fraud, card fraud statistics, skimming, POS terminal and ATM fraud, CHIP and PIN technology, fraud alert system, prevention tips for credit unions, prevention tips for members.
Standards01 Code of Conduct Discusses compliance with the policies and practices in the credit union’s Code of Conduct, and the ethical and respectful behaviour required to operate a financial organization that welcomes all staff, members, and the public. Includes an electronic acknowledgement of the Code of Conduct, which replaces paper-based tracking of the employee agreement.

Topics: the purpose of the Code of Conduct, our policies, Credit Union Acts, fraud and dishonesty, confidentiality, conflicts of interest, responsible record keeping, insider information, reporting questionable or fraudulent actions, workplace violence and harassment, use of premises, equipment and supplies, use of electronic devices and services, social media conduct, responsibilities, code of conduct acknowledgement.
Standards02 Financial Abuse of Older Adults Discusses issues associated with the potential financial abuse of older (65 years+) and dependent adults. Explains how to recognize potential abuse, what to do when abuse is suspected, and what actions to take, including when and how to involve the authorities.

Topics: demographics of aging, financial abuse description, victims of financial abuse, financial abusers, who reports financial abuse, signs of financial abuse, aging and financial management, dementia/capacity issues, POAs and financial abuse, joint accounts and financial abuse, privacy issues - PIPEDA and PIPA, privacy laws and financial abuse, how financial institutions are involved, what credit unions can do, reporting financial abuse by province.
Standards03 Accessibility Standards Canada has committed to human rights objectives to ensure people with disabilities receive equal treatment in all areas of their lives. This course will help train employees to meet exceptional accessibility service standards for all members, including those with disabilities.

Topics: Canadian disability law, provincial and territorial disability definitions, accessibility training, barriers to accessibility, emergency procedures, web accessibility, interacting and communicating, types of disabilities, assistive devices, service animals, support persons, advising of service disruptions, feedback processes.
COM01 Compliance: General Operations - FRB Regulations Through the Bank Secrecy Act and related acts, the government requires credit unions to be vigilant about the people served and the nature of the transactions processed. This course discusses regulations affecting member privacy and programs for ensuring both physical security and security of financial information.

Topics: FRB regulations, BSA, CTR, Suspicious Activity Report, OFAC, Patriot Act, RFPA, Regs S, L and A, Privacy.
COM02 Compliance: Deposit Regulations - TIS/NCUA part 707 Several acts and regulations affect the way credit unions deal with deposit transactions. This course explains the written disclosures regarding account rates, and fees and conditions that credit unions are required to provide to members. Also discusses electronic funds transfer regulations, conditions for making deposited funds available, procedures for handling checks, and credit union share insurance.

Topics: TIS/NCUA part 707, Truth in Savings, reserve requirements, EFT availability of funds, UCC, collection of checks, escheat.
COM03 Compliance: Lending Operations - FRB Regulations, NCUA 701.21 Several acts affect the lender’s role in a credit union. This course explores the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act, and Truth in Lending.

Topics: FRB regulations, NCUA 701.21, Equal Credit Opportunity, Fair Housing Act, HMDA,Truth in Lending, Fair Credit Reporting Act.
COM04 Bank Bribery Act - Conflicts of Interest, NCUA IRPS 87-1 The Bank Bribery Act (BBA) prescribes the types of gifts that may and may not be accepted by officers and employees of a credit union. This course acquaints staff with the procedures dictated by the BBA.

Topics: Bank Bribery Act/Conflicts of Interest, NCUA IRPS 87-1, permissible and prohibited activities, exceptions, disclosures, conflicts of interest.
COM05 Bank Secrecy Act (BSA) - OFAC, NCUA 748 The Bank Secrecy Act (BSA) is a series of laws that require credit unions and other financial institutions to report transactions that could be linked to tax evasion, money laundering, and other illegal activities to the federal government. The BSA is an important link in national security. This course will help staff understand their responsibilities in relation to this act.

Topics: Bank Secrecy Act, OFAC, NCUA 748, member identification program, new accounts, transactions, exempt persons, suspicious activity report.
COM05a BSA for Frontline Staff By complying with the Bank Secrecy Act (BSA) and its supporting regulations, our credit union plays a vital role in deterring money laundering, terrorist financing, and other illegal activities, and in maintaining our nation’s economy and security. This course discusses how the BSA affects frontline staff.

Topics: customer identification program, the role of OFAC, a SAR narrative, plus additional emphasis on monetary instruments, funds transfers, currency transaction reports, recognizing red flags.
COM05b BSA for New Accounts By complying with the Bank Secrecy Act (BSA) and its supporting regulations, our credit union plays a vital role in deterring money laundering, terrorist financing, and other illegal activities, and in maintaining our nation’s economy and security. This course discusses the BSA in relation to new accounts.

Topics: many of the areas discussed in BSA – Frontline Staff with a stronger emphasis on identifying red flags related to new accounts.
COM05c BSA for Electronic Transactions By complying with the Bank Secrecy Act (BSA) and its supporting regulations, our credit union plays a vital role in deterring money laundering, terrorist financing, and other illegal activities, and in maintaining our nation’s economy and security. This course discusses the BSA in relation to electronic transactions.

Topics: money laundering, terrorist financing, suspicious activity reports, OFAC, electronic services, funds transfers, red flags for electronic services.
COM05d BSA for Lending Operations By complying with the Bank Secrecy Act (BSA) and its supporting regulations, our credit union plays a vital role in deterring money laundering, terrorist financing, and other illegal activities, and in maintaining our nation’s economy and security. This course discusses the BSA in relation to lending operations.

Topics: identifying money laundering red flags in lending, money laundering scenarios in lending, key BSA elements regarding customer ID in both new and existing relationships, suspicious activity reports, OFAC, alerting the BSA Officer.
COM05e BSA for Volunteers & Senior Management The Bank Secrecy Act (BSA) is a series of laws that require credit unions and other financial institutions to report transactions that could be linked to tax evasion, money laundering, and other illegal activities to the federal government. The BSA is an important link in national security. This course assists volunteers and senior management to understand the BSA.

Topics: key BSA elements, relevant risk factors for the Board to consider, reporting and recording requirements to maintain compliancy with BSA regulations.
COM06 The USA Patriot Act - Patriot Act (CIP) NCUA 748 The purpose of the Patriot Act is to facilitate the prevention, detection and prosecution of international money laundering and the financing of terrorism. To achieve the goals of the Patriot Act, staff must be familiar with members and must take great care to verify identification for any person opening an account. This course discusses the Act and associated procedures.

Topics: collection calls, collection letters, plastic card termination, right of set-off, initiating repossession, post-repossession actions, legal action, third party collection agencies, write-offs.
COM09 Defining Sexual Harassment - Management Sexual harassment is viewed as a major problem by lawmakers, and can result in costly and embarrassing lawsuits for organizations and employees. This course is designed to help supervisors learn how to identify and report sexual harassment.

Topics: sex for business reward, hostile environment, investigation, duty to report.
COM09a Defining Sexual Harassment - Staff Sexual harassment is viewed as a major problem by lawmakers, and can result in costly and embarrassing lawsuits for organizations and employees. This course is intended to teach staff how to identify and report sexual harassment.

Topics: sex for business reward, hostile environment, investigation, duty to report.
COM10 Recognizing Sexual Harassment Through the use of scenarios and situations, supervisors can further their knowledge and understanding of sexual harassment, and identify harassment if it occurs in the workplace.

Topics: quid pro quo, abusing power, hostile environment, email trail, harassment by customer, duty to report.
COM011 Money Laundering & Due Diligence Discusses the credit union’s anti-money laundering program, and procedures used to identify accountholders and monitor activity that may indicate an account is being used for money laundering or terrorist financing.

Topics: What money laundering is, customer due diligence, unusual activities, red flags, BSA Officer investigations.
COM12 Elder Financial Abuse Prevention Discusses issues associated with the potential financial abuse of older and dependent adults. Explains how to recognize potential abuse, what to do when abuse is suspected, and what actions to take, including when and how to involve the authorities.

Topics: recognizing potential abuse, appropriate action when abuse is suspected, reporting to authorities.
COM13 Office of Foreign Assets Control Discusses the role of the Office of Foreign Assets Control, procedures for complying with OFAC requirements, how to examine new accounts and transactions, and how to deal with individuals or organizations that are a true match with an OFAC list.

Topics: definition of OFAC, OFAC procedures, verifying true matches, acting on a true match, other OFAC information.
COM14 Money Services Businesses Introduces Money Services Businesses, including how to identify this type of business, the due diligence required to open and operate this type of account, and how to identify possible illegal activities. Also explains how to complete CTRs and SARs for Money Services Businesses.

Topics: definition of a Money Services Business, extra due diligence, MSB requirements, basic customer due diligence, red flags.
COM15 Introduction to Identity Theft Examines all aspects of identity theft, including the types of information that criminals deal in, the methods by which identity information is collected, and the ways it is used by criminals.

Topics: definition of identity theft, identity data, property theft and pretexting, mail theft and dumpster diving, credit/debit card skimming, internet and electronic theft, protecting against identity theft, the identity theft affidavit.
COM16 Identity Theft & the FACT Act Examines the legislative background, including the Red Flag Rules and Notice of Address Discrepancy Rules in the FACT Act of 2003, and how the associated guidelines affect existing and new accounts. Discusses how the onus is on the employee to verify identity and address changes correctly, respond appropriately to alerts and notices of potential identity theft, recognize forgery and alteration of documents, verify personal identifying information, recognize suspicious activities related to new and existing accounts, and ultimately detect and prevent fraudulent activities from targeting members and the credit union.

Topics: identity theft and legislative background, red flags and the FACT act, responsibilities of the credit union, alerts, notifications/warnings, suspicious documents, suspicious personal identifying information, suspicious activity, address changes and discrepancies, response to red flag detection.
COM17 The Credit Card Act The Credit Card Accountability, Responsibility and Disclosure Act of 2009 (Credit CARD Act or CARD Act) was passed by Congress in an attempt to correct credit card practices that were deemed unfair or deceptive. This course discusses the Federal Reserve Board’s rules amending Regulation Z (Truth in Lending) to implement the Credit CARD Act, and other changes affecting credit cards and open-ended loan products.

Topics: understanding the CARD act, rate increases, fees and charges, overlimit fees, periodic statements, changes in terms, receiving payments, allocation of payments, ability to repay, young consumers, credit card agreements.