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. It is very unlikely that many banks already comply with these requirements.
Five years ago FinCEN’s latest major AML requirements came into play, focused on a major expansion of Know Your Customer efforts into what is now Customer Due Diligence, CDD. It goes far beyond knowledge of the Customer's 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. Full compliance implementation is required on accounts opened on or after May 11, 2018.
We will have time for questions and will support follow-up emails as well.
Commercial banking, Small Business Banking, Private Banking, and International Banking.
New customer processing staff and supervisors
Banks, brokers, other depository institutions
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.
Five years ago FinCEN’s latest major AML requirements came into play, focused on a major expansion of Know Your Customer efforts into what is now Customer Due Diligence, CDD. It goes far beyond knowledge of the Customer's 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. Full compliance implementation is required on accounts opened on or after May 11, 2018.
We will have time for questions and will support follow-up emails as well.
Commercial banking, Small Business Banking, Private Banking, and International Banking.
New customer processing staff and supervisors
Banks, brokers, other depository institutions
Jim George
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). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry. Jim's work has included projects in fraud investigation, fraud prevention, identity issues, compliance and AML (anti-money laundering). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.
Building a High-Performance Team in 90 Days
Introduction to Microsoft Power BI Dashboards
Bootcamp for New Managers and Supervisors: Develop These Es…
Dealing with Difficult People: Managing Strong Personalitie…
The Perfect Storm Coming to Healthcare: Value Based Care Me…
Excel - Lists and Tables - A Beginner's Guide to Managing L…
Reinvent Your HR Department with ChatGPT
DOL Reverses Course on Independent Contractor Rule for 2026…
Using Claude in Excel for Productivity, Automation & Data A…
Stop Letting That Difficult Person Ruin Your Day: Effective…
FDA Technology Modernization Action Plan (TMAP) and Impact …
GROUPBY and PIVOTBY functions. Pivot table killers?
Discover how Emotional Intelligence turns AI from a technic…
Sunshine Act Reporting - Clarification for Clinical Research
Faster, Better Talent Acquisition: Leveraging AI & ChatGPT …
Cleanroom, Microbiology and Sterility Assurance Practices f…
FDA Recommendations for Artificial Intelligence/Machine Lea…
Interactive dashboards & analytics in Excel
Data Integrity and Privacy: Compliance with 21 CFR Part 11,…
Language is Code - Intro to AI - Generative AI - ChatGPT an…
FDA Audit Best Practices - Do's and Don'ts
Medical Device Hazard analysis following ISO 14971
