FinCEN's New CDD Rule - The New Fifth Prong of the AML
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Course Description:
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.
Areas Covered:
- 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?
This webcast will be of a valuable assistance to the below audience.
- Risk Management Officers
- Legal Officers
- Regulatory Professionals
- Auditors
- Compliance Officers
- Lenders
- Operations Personnel
- Branch Managers
- Assistant Branch Managers
- Customer Service Reps
- Risk Officers
- Collectors
- Trainers
Registration Options
Speaker Details
Jim George
Consultant to banks in operations and risk
Jim George is an independent consultant to banks focusing on issues of 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 Fortis-US division providing outsourcing services to the banking industry. Jim's work has included projects in fraud
Refund Policy
Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplianceTrain will issue a letter of credit to be used towards any of ComplianceTrain's future events. The letter of credit will be valid for 12 months.
ComplianceTrain will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: admin@ComplianceTrain.com
