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. Full compliance implementation is required by May 11, 2018.Areas Covered in the Webinar:
Independent consultant, George Consulting LLC
Jim George is an independent consultant working with major banks and other financial institutions in areas of mortgage, compliance management, and risk management. He was formerly an Associate Partner in the Bank Risk and Compliance unit of IBM Consulting and with PriceWaterhouse-Coopers consulting before that. Jim worked for the Director of Operations in HUD’s Office of Fair Housing around the time HDMA reporting regulations were first implemented. He was Senior Vice President of Operations and Compliance for a mortgage servicing company.
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Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.
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