Start Date: 9/25/2020 9:00 AM MDT
End Date: 9/25/2020 10:00 AM MDT
On August 3, 2020, FinCEN issued new CDD FAQs to clarify regulatory requirements regarding obtaining customer information, establishing a risk profile, and ongoing relationship monitoring. This session will address the new guidance and its impact to your new account and loan origination procedures and provide updated CDD language for your BSA policy.
It will also review the four elements of CDD, and the impact COVID-19 has had on your ability to successfully meet each requirement. How has your ability to identify and verify accountholders and beneficial owners been impacted by lobby closures, mask mandates, and increased use of online account-opening portals? How are you monitoring for activity outside an accountholder’s norm, when so many transactions defy usual expectations for those individuals or businesses? This program will provide best practices and recommendations to support your CDD program during this unusual time and assist you in identifying potential instances of pandemic-related fraud. Don’t miss this jam-packed session with loads of information and tools.
Attendance certificate provided to self-report CE credits.