Contact Us

Long Island University Hosts a Seminar on Anti-Money Laundering Laws

Sept. 25 event at the Brooklyn Campus will give small business owners an opportunity to
meet with state and federal regulators

Contact

Helen Saffran,Associate Director of Public Relations
Brooklyn Campus,
Long Island University
(718) 488-1419

Brooklyn, N.Y. — Long Island University's Brooklyn Campus, together with the Internal Revenue Service (IRS), will host a free “Anti-Money Laundering” seminar on Sunday, Sept. 25, from 11 a.m. to 3:30 p.m. in the Library Learning Center, Room 122.

State and federal regulators will be on hand to give information and answer questions on compliance with state and federal regulations related to the Bank Secrecy Act, which requires financial institutions in the United States to help U.S. government agencies to detect and prevent money laundering.

Certificates will be given to those who attend the seminar, which is sponsored by the department of accounting, taxation and law's Center for Accounting and Tax Education (CATE) in the School of Business, Public Administration and Information Sciences. CPAs and Enrolled Agents will receive 3 CPE. Those who will benefit from this seminar include:

  1. owners of businesses that offer money services, such as currency dealing or exchange, check cashing, money orders, travelers checks, pre-paid access (formerly know as stored value) or provides transfer services.
  2. owners of businesses that receive more than $10,000 in cash from one or more transactions or related transactions.
  3. practitioners, employees, compliance officers, and industry organizations that support trades or business that are subject to the Bank Secrecy Act.

Seminar attendees will hear about the purpose behind the United States' anti-money laundering laws and the reporting and recordkeeping requirements when cash transactions are conducted during the operation of their trade or business, as well as the civil and criminal penalties that can be assessed for noncompliance.

Investigators and specialists from state and federal agencies will lead discussions on state and federal registration, reporting and recordkeeping requirements and what to expect and how to prepare for BSA Compliance Examinations.

“LIU's Brooklyn Campus continues its policy of serving the surrounding community at this seminar, which offers guidelines to those whose businesses and professions deal primarily in cash transactions,” said Myrna Fischman, director of CATE and chair of the accounting, taxation and law department at the Campus.

The School of Business offers undergraduate and graduate degree programs, including master's degrees in business administration and public administration. To reserve a place and for additional information, contact Francine Sparks at (718) 780-4062 or francine.sparks@liu.edu.

The Brooklyn Campus is distinguished by...
dynamic curricula reflecting the great urban community it serves. Distinctive programs encompass the arts and media, the natural sciences, business, social policy, urban education, the health professions and pharmacy, and include the Ph.D. in Clinical Psychology, the Ph.D. in Pharmaceutics, the D.P.T. in Physical Therapy and the Pharm.D. in Pharmacy. A vibrant urban oasis in downtown Brooklyn, this diverse and thriving campus offers academic excellence, personalized attention, small class size and flexible course schedules. In 2006, a $45-million Wellness, Recreation and Athletic Center was opened to serve the Campus and the surrounding community. In 2007, the Cyber Café was launched, providing a high-tech hot spot for students and faculty members to meet and eat.

Updated 09/07/2011

Posted 09/06/2011

  Return to Press Releases