FinCEN's New CDD Rule - The New Fifth Prong of the AML

Jim George

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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


Recorded video

Recorded video session



Speaker: Jim George,

Jim George is an independent consultant to banks focusing on issues of risk and compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture). He has also been SVP Operations for a major Insurance Company providing insurance outsourcing services to the banking industry. Jims work has included projects in AML and fraud investigation, prevention, identity/KYC issues, and related systems. His background includes work in bank operations and payments strategy, systems, re-engineering, and quality improvement.


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