WEBINAR

Implementing the New Beneficial Ownership Rules Webinar

CFT Credits: 0.25

The new beneficial ownership rules will require a financial institution to implement the most significant change to its BSA/Anti-money laundering program in the past decade. This two-hour webinar provides the details necessary to begin to prepare for this significant change.

Webinar Description and Audience

WHAT?

On May 11, 2016, the Financial Crimes Enforcement Network (FinCEN) issued its final rule to implement the long awaited beneficial ownership rules that will significantly impact customer due diligence requirements. Under the final rule, a covered financial institution will be required to adopt due diligence procedures that will require identification and verification of a legal entity’s beneficial owner(s) at the time of account opening.

In addition, another pillar has been added to the existing four pillars that have encompassed anti-money laundering programs since the passage of the USA PATRIOT Act. The requirement to establish risk-based procedures for conducting ongoing due diligence, including customer risk profiles, will have a major impact on your financial institution’s anti-money laundering program.

WHY?

The new beneficial ownership rules will require a financial institution to implement the most significant change to its BSA/Anti-money laundering program in the past decade. This two-hour webinar provides the details necessary to begin to prepare for this significant change. Whether you are the BSA Officer or a new account representative for your financial institution, the beneficial ownership rules will have a considerable impact on your daily requirements.

Covered Topics:

Upon completion of the program participants will understand:

•What is considered a covered financial institution under the beneficial ownership rules
•The written procedural requirements necessary under the new rule
•How to define a “legal entity customer”
•The two types of beneficial owners: “ownership prong” and “control prong”
•Which legal entity customers are excluded or exempted from the identification and verification requirements
•What type of accounts are exempt from the identification and verification requirements
•The model form provided by FinCEN to satisfy the identification requirements
•How to develop a customer risk profile as part of the risk-based due diligence requirements
•What type of ongoing monitoring is necessary under the new rules
•Options for gathering beneficial ownership information for owners with less than 25% ownership
•Changes to existing written policies, procedures and training programs; and
•The record retention requirements.

Who Should Attend?

Front-line/new account personnel, BSA Officers, compliance officers, auditors and others with responsibilities for monitoring BSA related activities

Webinar Viewing 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 a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for 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.

IN-HOUSE:                                                        

Webinars can be scheduled and offered exclusively for your company.  They can even be customized to best fit your needs.  To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.

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.

Register Here!

Choose the viewing option that best suits your needs. Live Webinar times are shown as Eastern Time. You can choose to pay by credit card or invoice when you register. CFT Credit will be awarded to the registrant, unless directed otherwise (additional attendees can also receive credit for an additional fee). CFT Webinars are powered by Total Training Solutions!

Webinar DateStart TimeEnd DateEnd TimeViewing Options - See Descriptions AbovePrice
01/19/17Archived Six Month On-Dermand Recording$295.00Register
01/19/17Archived CD-ROM Recording$345.00Register
AnyIn-HouseRequest