This webinar will cover customer due diligence (CDD) requirements, the cornerstone of an effective BSA/AML compliance program. This includes customer identification program (CIP) basics, the identification of beneficial owners, developing a customer risk profile, and conducting ongoing monitoring. It will also cover regulatory expectations, industry best practices, and emerging trends to watch for in this area.
What you will learn:
- What customer information must be obtained
- Required documentary and non-documentary verification
- Customer risk rating factors
- Types of due diligence
- Enhanced due diligence for high-risk customers
- FinCEN’s CDD Rule
- Identifying beneficial ownership
- Keeping customer records up to date
- Ongoing monitoring
- Regulatory expectations
- Use of AI and other technologies