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Course/Product Description
Title:

Alert! Financial Crimes Enforcement Network: Proposed Customer Due Diligence Requirements for Financial Institutions

SKU:WT-1001492
Format: Webinar
Description:

The Financial Crimes Enforcement Network (FinCEN) is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for banks.

The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

This rule will help prevent the use of anonymous companies to engage in or launder the proceeds of illegal activity in the U.S. financial sector. The proposed rule would clarify and strengthen customer due diligence obligations of financial institutions.

The proposed amendments would add a new requirement that these entities know and verify the identities of the real people (also known as beneficial owners) who own, control, and profit from the companies they service.

These proposed amendments represent significant enhancements to the BSA and build upon post-9/11 augmentation of the regulations designed to protect the U.S. financial system. They would make valuable information needed to disrupt illicit finance networks available to law enforcement.

The resulting increase in financial transparency would enhance the ability of financial institutions and law enforcement to identify the assets and accounts of criminals and national security threats.

AGENDA

  • The Four Core Elements of Customer Due Diligence


    • Identifying and verifying the identity of customers
    • Identifying and identifying and verifying the beneficial owners of legal entity customers
    • Understanding the nature and purpose of customer relationships
    • Conducting ongoing monitoring to maintain and update customer information and to identify and report suspicious transactions

  • The proposed requirement for financial institution to collect beneficial ownership in a standardize format
  • The proposed requirement that financial institutions will have to identify and verify any individual who owns 25 percent of more of a legal entity, and an individual who controls the legal entity
Who Should Attend

This webinar will benefit BSA officers, BSA coordinators, compliance officers and security officers.

The Presenter

Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 20+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.

Licenses / Designations / Educational Credits:CEU
All US States: 2.5
All Canadian Provinces: 2.5
About The Provider: Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.

For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.

We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.

Webinar Descriptions:

Live Session:
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.

Recorded CD:
CD-Rom includes audio and video of recorded webinar plus hard copy handouts. You will also receive 6 months access to the OnDemand weblink as an added free bonus.

OnDemand:
Includes a weblink for unlimited viewing for 6 months after the date of the webinar as well as a link to handouts.

Live + Recorded:
Includes all three options above. Live session, OnDemand Weblink, and CD-Rom plus Hardcopy Handouts.

Live + OnDemand:
Includes two of the options above. Live session and 6 months access to OnDemand Weblink plus link to handouts.
Price: $265.00
More Info: Contact Us For More Information
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Currently Scheduled Dates For This Webcast
Course TitleDatePrice
Alert! Financial Crimes Enforcement Network: Proposed Customer Due Diligence Requirements for Financial InstitutionsCD/On-Demand$325.00

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