FinCEN’s CDD Rule and the impact of the AML Act of 2020

Speaker

Instructor: Jim George
Product ID: 705602

Location
  • Duration: 60 Min
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.
RECORDED TRAINING
Last Recorded Date: Nov-2021

 

$219.00 $249.00 (12%)SAVE: $30.00
1 Person Unlimited viewing for 6 month info Recorded Link and Ref. material will be available in My CO Section
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$349.00
Downloadable file is for usage in one location only. info Downloadable link along with the materials will be emailed within 2 business days
(For multiple locations contact Customer Care)

 

 

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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.

The new requirements are formidable. They will impact commercial, small business, private, and international banking areas of the Banks as well as compliance officers and areas currently performing KYC tasks. New research will be required on new entities never addressed before in customer acceptance.

Areas Covered in the Webinar:

  • 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:

  • Fraud
  • Compliance and AML
  • VP
  • Manager
  • Director
  • Supervisor
Instructor Profile:
Jim George

Jim George
Independent consultant, George Consulting LLC

Jim George brings over 25 years of experience as a consultant to major banks in areas including AML (anti-money laundering) compliance, detection and investigation. His background includes work in bank operations and payments strategy, reengineering, systems, and quality improvement. Jim in an independent consultant having prior experience as an Associate Partner at IBM, PriceWaterhouse-Coopers Consulting and Andersen Consulting. He participated in a major Federal Justice Department AML Task Force in Miami, Florida.

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Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).

 

 

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