2021 - FinCEN's New CDD Rule - The New Fifth Prong of the AML

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