Customer Due Diligence Update Webinar

New FAQs on obtaining customer information and 25 Common Errors on Beneficial Ownership

How much is enough? How far do we go to know our customer?

The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, issued three frequently asked questions (FAQs) regarding customer due diligence requirements for covered financial institutions. These FAQs clarify the regulatory requirements related to obtaining customer information, establishing a customer risk profile, and performing ongoing monitoring of the customer relationship in order to assist covered financial institutions with their compliance obligations in these areas. In May 2018 the four elements of CDD included CIP, Beneficial Ownership, Customer Risk Rating and Monitoring. How this is accomplished has been left up to the individual financial institution. New FAQs reinforce the ability of financial institutions to accomplish this many different ways.

During this webinar we will exam the new FAQs and how they may impact the new account opening processes. We will also look at the common errors on beneficial ownership certification and maintenance.

Covered Topics:

  • What do we have to obtain on customers at account opening
  • Do we have to treat certain groups of customers as high risk?
  • New FAQs explain flexibility of account opening
  • 25 Errors on Beneficial Ownership
  • Certification and recertification of beneficial ownership
  • Trusts as a customer, owner of business and certification
  • Foreign banks, foreign businesses and beneficial ownership
  • Renewals on CDs and loans
  • Pending legislation at the federal level to move beneficial ownership to FinCEN

Who Should Attend?

BSA Officer, BSA staff, Compliance Officers, New Accounts, Loan officers and others who open accounts for hemp related businesses.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

View Delivery Options

Related Topics

Instructor

Deborah Crawford
Deborah Crawford

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit R... read more.

Course TitleCreditsStart DateStart TimeDelivery TypeDelivery OptionInstructor / LocationPrice
Customer Due Diligence Update0.25 Any AnyWebinarSix Month On-Demand Recording Deborah Crawford$295.00 Register Now
Customer Due Diligence Update0.25 Any AnyWebinarCD-ROM Video Recording Deborah Crawford$345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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