Price: $200.00

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Price: $345.00

Enhanced Due Diligence: When and How to Conduct (Audio / Visual CD-ROM)

The U.S. Bank Secrecy Act prescribes minimum account opening procedures, but sometimes banks must move beyond basic Customer Identification Programs (CIP) and Know Your Customer (KYC) rules. That’s when you enter the realm of Enhanced Due Diligence. EDD is especially critical when trying to comply with Section 312 of the USA Patriot Act by penetrating the secrecy layers of shell companies. In this interactive seminar, you will first learn how to determine when EDD is a must. Then you will find out what steps to take when conducting EDD so that your institution can be properly shielded from money launderers.

Speakers:

Bill News
Bill is the Director of Investigative Resources at NFC Global which is a due diligence research company, based in suburban Philadelphia, and has been in business for over 25 years with 35 employees and 5 offices. Bill returns to NFC after five years as a Risk Management Consultant at LexisNexis. While at LexisNexis, he worked with private and public sector clients in the public records arena of Lexis, teaching the benefits and capabilities of the public records databases. Bill worked with the Philadelphia Police, local FBI offices and large corporate clients in the New Jersey, Pennsylvania and Delaware area. Prior to Lexis, Bill worked at NFC Global for just over four years, conducting due diligence and investigations for clients all over the world. Prior to that Bill worked for the Resolution Trust Corporation (RTC), the government agency responsible for finding culpable parties (and their assets), of failed savings and loans. Prior to the RTC, Bill worked at the Philadelphia Stock Exchange conducting insider trading violation investigations. Bill is on the Board of Directors of the Philadelphia Chapter of the Association of Certified Fraud Examiners.

Thomas Pirro
Thomas is Director of Sales for NominoData, an Anti Money Laundering Search Engine utilized by compliance professionals worldwide. His primary responsibilities include educating the financial services industry on increasing efficiencies when conducting internet based searches for Know Your Customer purposes. Thomas was previously employed by Compliance Data Center, (CDC), a wholly owned subsidiary of Equifax, from Feb 1983 to August 2007. His responsibilities as General Manager of CDC included but was not limited to day to day activities associated with Customer Fulfillment, Sales, Customer Relations, and new product development. As prior Head of Operations, he uncovered numerous Nigerian 4-1-9 scams conducted within the Brokerage Community and was instrumental in working with Law Enforcement Agencies worldwide to deter White Collar and Securities Fraud. Thomas has been quoted in several publications, including but not limited to The New York Times, Newsweek and New York Magazine. Thomas was interviewed by Ed Bradley for a segment on 60 Minutes regarding his role in detecting and preventing a multi-million dollar Nigerian based fraud ring that had infiltrated Wall Street for the purposes of defrauding Brokerage Houses.

William Thomas
William provides Due Diligence and related services to the securities and financial services industries. Emphasis is on Due Diligence, Corporate Intelligence, Securities Analytics and Anti-Money Laundering. William has over 30 years of experience as a government investigator. He served as Enforcement Branch Chief for the Securities and Exchange Commission’s Northeast Regional Office, where he managed complex securities investigations and AML studies. His most significant cases involved insider trading of securities, market manipulation, suitability, and general fraud. William was the liaison with the High Intensity Financial Crimes Area task force in the New York Metropolitan region, and worked with criminal and civil regulators in matters involving securities investigations, SAR’s and the US equity markets. He worked with the industry’s Intermarket Surveillance Group in developing protocols for data standardization. Previously he was the Assistant Regional Director for Operations of the Naval Investigative Service, supervising financial and counter-intelligence activities throughout the Northeastern United States.

Recorded: December 5, 2007