Introduction

The FinCEN has issued substantial new AML requirements focused on a major expansion of Know Your Customer into what is now Customer Due Diligence, CDD. This webinar will present various aspects of the requirements.

Learning Objectives

• The existing 4 prongs/pillars of AML per the BSA
• Triggers that caused this expansion of regulations
• Three covered entity types
• Beneficial owners
• Exclusions
• Risk profiles
• Baseline/normal transactions
• Overview of the new 5th prong/pillar
• Purposes, per FinCEN
• Customer legal entity
• Controlling persons
• New Requirements
• Updating
• Transaction monitoring

Why should you attend?

It goes far beyond knowledge of the Customer Legal Entity to the Beneficial Owner of that entity and its Controlling Persons. It is focused beyond the initial customer acceptance step, requiring updating and ongoing monitoring against baseline “normal” activity for the customer type. It is very unlikely that many banks already comply with these requirements. 

Who Will Benefit

• Risk Management Officers
• Auditors 
• Operations Personnel 
• Customer Service Reps
• Trainers
• Legal Officers
• Compliance Officers
• Branch Managers 
• Risk Officers 
• Regulatory Professionals 
• Lenders 
• Assistant Branch Managers 
• Collectors