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CIP, CDD and Beneficial Ownership Refresher

CIP, CDD and Beneficial Ownership Refresher

What we ask at account opening is important and there are specific rules we must follow, set forth by the Bank Secrecy Act (BSA). (Rec. 3/8/22)

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Webinar Description

Recorded:  March 8, 2022    

What we ask at account opening is important and there are specific rules we must follow, set forth by the Bank Secrecy Act (BSA). WHY we ask is critical for your frontline and BSA staff to understand. Know Your Customer Rules are a key element in combating fraud, money laundering, terrorist financing, human trafficking, narcotics trafficking, weapons proliferation, and other financial crimes. Law enforcement follows the money trail and financial institutions are a vital piece of that puzzle.

In this session we will cover:

  • Defining what is and is not a “customer” and how the rules define an “account”
  • Customer Identification Program requirements under the USA PATRIOT Act
  • Explaining the CDD process and why it is important to understand the nature of the business or occupation of the consumer(s) opening accounts
  • Risk rating your customers and how it informs ongoing monitoring
  • Identifying beneficial owners of legal entity customers – getting to the humans behind it all
  • Beneficial Ownership Fact Sheet
  • Beneficial Ownership Account Opening Reference Guide
  • Customer Due Diligence Risk Assessment
  • Your registration includes:
  • A copy of the presentation materials
  • Unlimited video replay

 

Refund Policy:

If you will have any issues with attending the simulcast, we offer a No Questions Asked Refund Policy any time before the start of a live simulcast.

 

CBANC Complaint Policy:

The goal of CBANC Education is to provide quality educational content and excellent service to our users.  If you have any questions or concerns regarding the quality of our content or service, please contact us at support@cbancnetwork.com.

Webinar Description

Recorded:  March 8, 2022    

What we ask at account opening is important and there are specific rules we must follow, set forth by the Bank Secrecy Act (BSA). WHY we ask is critical for your frontline and BSA staff to understand. Know Your Customer Rules are a key element in combating fraud, money laundering, terrorist financing, human trafficking, narcotics trafficking, weapons proliferation, and other financial crimes. Law enforcement follows the money trail and financial institutions are a vital piece of that puzzle.

In this session we will cover:

  • Defining what is and is not a “customer” and how the rules define an “account”
  • Customer Identification Program requirements under the USA PATRIOT Act
  • Explaining the CDD process and why it is important to understand the nature of the business or occupation of the consumer(s) opening accounts
  • Risk rating your customers and how it informs ongoing monitoring
  • Identifying beneficial owners of legal entity customers – getting to the humans behind it all
  • Beneficial Ownership Fact Sheet
  • Beneficial Ownership Account Opening Reference Guide
  • Customer Due Diligence Risk Assessment
  • Your registration includes:
  • A copy of the presentation materials
  • Unlimited video replay

 

Refund Policy:

If you will have any issues with attending the simulcast, we offer a No Questions Asked Refund Policy any time before the start of a live simulcast.

 

CBANC Complaint Policy:

The goal of CBANC Education is to provide quality educational content and excellent service to our users.  If you have any questions or concerns regarding the quality of our content or service, please contact us at support@cbancnetwork.com.