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

Date2020-12-15

Deadline2020-12-05

Venue, USA - United States USA - United States

KeywordsFinCEN; New CDD Rule; FinCEN requirements

Websitehttps://www.complianceonline.com/fincens...esearchbib

Topics/Call fo Papers

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

Last modified: 2020-12-03 20:50:40