fincen’s-new-cdd-rule-–-the-new-fifth-prong-of-the-aml-program

FinCEN’s New CDD Rule – The New Fifth Prong of the AML Program

certification logo15595       

Live Webinar

  • 60 minutes

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. 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. Until CDD became a requirement not many banks already complied with these requirements.

Join this session by expert speaker Jim George, where he will discuss how to address this pressing issue and implement it into your CIP and BSA programs.

Session Highlights:

  • 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

  • By May 11, 2018 you must be ready, here is what you will need 

Why You Should Attend:

It is focused beyond the initial customer acceptance step, requiring updating and ongoing monitoring against baseline “normal” activity for the customer type. Until CDD became a requirement not many banks already complied with these requirements.

Who Should Attend:

  • Risk Management

  • Legal

  • Regulatory

  • Compliance

  • Audit


Advanced Preparation: None 

Program Level: Intermediate 

Prerequisites: Basic knowledge of Anti-Money Laundering

Field of Study: Regulatory Ethics, Management Services


*You may ask your Question directly to our expert during the Q&A session.

** You can buy On-Demand and view it as per your convenience.

Jim  George

Jim George

Jim George is an independent consultant to banks focusing on issues of risk and compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, and IBM Consulting in Bank Risk and Compliance. Jim was the lead consultant to a major Federal Justice Department Taskforce investigating money laundering in Miami.

No Reviews Found

Edupliance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151.

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.

Number of CPE Credits Awarded for This Course: 1.0 (Regulatory Ethics - 0.5, Management Services - 0.5)

Delivery Method: Group Internet Based

Want to attend in a Group? Call 844-810-1151 and Save upto 50%

Share this course with a friend
           

We Also Recommend

Finance Banking & Taxation

New Business Interest Limitations under IRC 163(j)

CEU Approved | Pre Recorded
NICHOLAS PREUSCH
(Speaker)
Duration:
90 minutes

Finance Banking & Taxation

Understanding & Analyzing Financial Statements

CEU Approved | Pre Recorded
CARL YOUNG
(Speaker)
Duration:
60 minutes

Newsletter

Get Notified about News, Webinars, Community & More