NewswireToday - /newswire/ -
New York, NY, United States, 2008/03/25 - Together with SightSpan, The Edcomm Group Banker’s Academy has created a training program that focuses on cover payments.
Cover payments present a way for financial institutions to transfer funds to other institutions, with which they have no direct relationship. While cover payments are fundamental to the international wire transfer and payment system, they also expose intermediary banks to BSA/AML and OFAC risks.
Focus on Cover Payments is a computer-based, free tutorial provided by Edcomm Banker’s Academy. The program teaches about cover payments using easy-to-understand language in an interactive, self-paced format. Focus on Cover Payments includes an introduction to funds transfers; how cover payments work; BSA/AML and OFAC risks to beneficiary banks, intermediary banks and beneficiary banks; and how to minimize those risks.
SightSpan offers a suite of risk-based solutions within the global compliance and fraud business areas, including BSA, AML, OFAC and Trade Compliance. The organization helps industry leaders solve strategic issues and focuses on project and program execution. SightSpan addresses sensitive and mission critical situations in a professional and confidential manner; the company can quickly and effectively manage high risk projects requiring immediate corrective action.
For more information about programs like this, or to find out how The Edcomm Group Banker’s Academy can customize any training program, call 888-433-2666
The Edcomm Group Banker’s Academy is a 21-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share - providing bottom-line results. The Edcomm Group Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, classroom instruction, multimedia production and online and print based documentation. Edcomm Banker's Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).
The Edcomm Group Banker's Academy is headquartered in New York City with an Advanced Design Center located in Fort Washington, Pennsylvania.