FinCEN's New CDD Rule - The New Fifth Prong of the AML
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This webinar will cover 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.
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. Full compliance implementation is required by May 11, 2018.
Areas Covered in the Webinar:
- The existing 4 prongs/pillars of AML per the BSA
- Overview of the new 5th prong/pillar
- Triggers that caused this expansion of regulations
- Purposes, per FinCEN
- Three covered entity types
- Customer legal entity
- Beneficial owners
- Controling persons
- Exclusions
- New Requirements
- Risk profiles
- Updating
- Baseline/normal transactions
- Transaction monitoring
- By May 11, 2018 you must be ready, here is what you will need
Who Will Benefit:
- Risk Management
- Legal
- Regulatory
- Compliance
- Audit
Webinar Events
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Training CD-DVD
Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment
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Recorded video
Recorded video session
