2020 - FinCEN's New CDD Rule - The New Fifth Prong of the AML

OVERVIEW
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?
Risk Management
Legal
Regulatory
Compliance
Audit
SPEAKER
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).
For more detail please click on this below link:
https://bit.ly/2ZtvNiH
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