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FinCEN’s CDD Rule and the impact of the AML Act of 2020

May 26 @ 10:00 am - 11:00 am UTC-7

$199.00

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.
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.

The new requirements are formidable. They will impact commercial, small business, private, and international banking areas of the Banks as well as compliance officers and areas currently performing KYC tasks. New research will be required on new entities never addressed before in customer acceptance.
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
Controlling persons
Exclusions
New Requirements
Risk profiles
Updating
Baseline/normal transactions
Transaction monitoring
Who Will Benefit:

Fraud
Compliance and AML
VP
Manager
Director
Supervisor

Details

Date:
May 26
Time:
10:00 am - 11:00 am UTC-7
Cost:
$199.00
Event Category:
Website:
Visit Event Website For More Details

Organizer

complianceonline
Phone:
+1-888-717-2436
Email:
referral@complianceonline.com