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CDD: Beyond the Basics

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Hopefully, you already have the basics of the beneficial ownership rule covered; what’s important now is to not overlook the new fifth pillar. Institutions should have updated their customer due diligence (CDD) programs to reflect the fact that the new beneficial ownership rule created this fifth pillar for all BSA/AML programs, requiring risk-based procedures for conducting ongoing CDD. This includes developing customer risk profiles and implementing ongoing monitoring to identify and report suspicious activity and, on a risk basis, updating customer information.

Join us as we discuss the new fifth pillar that will complete your CDD program and keep your institution compliant.

We Will Cover:

  • Requirements for an institution’s CDD
  • Appropriate risk-based procedures for ongoing CDD
  • Guidelines for developing a customer risk profile
  • Best practices for conducting ongoing monitoring to identify and report suspicious transactions and maintain/update customer information

Date Aired: August 30, 2018

(Training On-Demands are current as of the date aired.)


Presenter:

  • Becky Breland
    • Becky Breland
    • Senior Consultant Becky Breland has 18 years legal experience in the areas of federal consumer protection regulations and Bank Secrecy Act compliance. Becky is a regulatory attorney licensed to practice law in the State of Alabama since 2001. Her current responsibilities include working closely with financial institutions to create custom training programs and materials. Becky also works directly with regulatory agencies to develop content for their custom training programs along with maintaining the training program materials for changes in policies and regulations. In addition to developing classroom training, Becky has developed online training and webinars for Capco. Becky is one of Capco's trainers and has provided classroom training to regulatory agencies, financial institutions and at Capco-hosted events, seminars and workshops on the subjects of deposit, operations and lending compliance.

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