EDD what are the auditors looking for?
Website https://www.complianceonline.com/enhanced-due-diligence-edd-for-financial-instituitions-and-banks-au |
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Deadline: February 21, 2019 | Date: February 21, 2019
Venue/Country: U.S.A
Updated: 2019-01-19 20:21:26 (GMT+9)
Call For Papers - CFP
In the last four years we have seen some of the highest fines levied on financial institutions because they did not follow proper customer due diligence measures. Wachovia was fined $160 million dollars in 2010, HSBC was filed $1.9 billion in 2012 and The Reserve Bank of India penalized 22 banks for violating Know-Your-Customer norms and Anti-Money Laundering guidelines in 2013. EDD is a relatively new concept and a hot topic for auditors and most institutions, especially smaller institutions, don’t really know what it entails.This webinar will help by giving points as to what the auditors want in an EDD so you are not wasting your time and resources and still keeping the auditors happy. Also, by conducting proper EDD reviews your institution can confirm that all Customer Due Diligence (CDD) information is up to date as well as accurate and ensures that it is not being taken advantage of by individuals/entities that would try to exploit it for nefarious purposes.Keywords: Accepted papers list. Acceptance Rate. EI Compendex. Engineering Index. ISTP index. ISI index. Impact Factor.
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