Sign for Notice Everyday    Sign Up| Sign In| Link| English|

Our Sponsors

    Receive Latest News

    Feedburner
    Share Us


    FinCEN's New CDD Rule - The New Fifth Prong of the AML

    View: 229

    Website https://bit.ly/2IMHpqD | Want to Edit it Edit Freely

    Category Aml due diligence;FinCENBeneficial Ownership; Anti money laundering;AML Requirements

    Deadline: June 26, 2018 | Date: June 26, 2018

    Venue/Country: Training Doyens 26468 E Walker Dr,Aurora, Colora, U.S.A

    Updated: 2018-05-26 21:20:13 (GMT+9)

    Call For Papers - CFP

    OVERVIEW

    FinCEN has issued substantial new AML requirements focused on a major expansion of Know Your Customer into what is now Customer Due Diligence, CDD. 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 starting May 11, 2018.

    WHY SHOULD YOU ATTEND

    The new rulesgo 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 and starts May 11, 2018.

    AREAS COVERED

    • The existing 4 prongs/pillars of AML per the BSA

    • Overview of the new 5th prong/pillar

    • Triggers that caused this expansion of regulations

    • Purposes, per FinCEN

    • Three covered entity types

    o Customer legal entity

    o Beneficial owners

    o Controlling persons

    o Exclusions

    • New Requirements

    o Risk profiles

    o Updating

    o Baseline/normal transactions

    o Transaction monitoring

    • It starts May 11, 2018you must be doing it then, here is what you will need

    LEARNING OBJECTIVES

    Learn about the FenCIN requirements announced in 2017 and to be fully implemented second quarter of 2018. They are extensive Customer Due Diligence and involve research into entities few banks currently document fully.

    WHO WILL BENEFIT

    Banking, Brokerage, or any Financial Services company which have AML requirements.

    For more detail please click on this below link:

    https://goo.gl/8BQwyy

    Email: supportattrainingdoyens.com

    Toll Free: +1-888-300-8494

    Tel: +1-720-996-1616

    Fax: +1-888-909-1882


    Keywords: Accepted papers list. Acceptance Rate. EI Compendex. Engineering Index. ISTP index. ISI index. Impact Factor.
    Disclaimer: ourGlocal is an open academical resource system, which anyone can edit or update. Usually, journal information updated by us, journal managers or others. So the information is old or wrong now. Specially, impact factor is changing every year. Even it was correct when updated, it may have been changed now. So please go to Thomson Reuters to confirm latest value about Journal impact factor.