BSA Series: Part II - Growing Your CDD Questionnaire for Business Accounts

This is for Part II only. For series pricing and Part I details, CLICK HERE.

It's all about the questions and answers you ask that will determine if you can bank a business. This program is designed to help you script out those business questions that will keep you in compliance and help you find a risk profile for a customer you can live with. We have been encouraged not to de-risk entire customer groups but instead to look at the customer itself and then determine if we have the resources to monitor these accounts. New proposed rules will regulate that we ask transactional questions related to the source of funds and purpose of the account. How to do that in a customer friendly way is now the question. You will learn how to build a fluid script that makes sense for your business customer and how to find the level of risk your institution can tolerate.

What You Will Learn:

  • What is the difference between source of funds and source of wealth?
  • Questions you might ask about money service businesses
  • Questions you might ask about marijuana related businesses
  • Questions you might ask about transactions
  • Questions you might ask about gambling and privately held ATMs
  • What does it mean to know your customer's customer (KYCC)?
  • OFAC issues
  • How to live in the risk without cutting off services for entire customer groups
  • Scripting out more in depth questions for high risk customers
  • And much more

Who Should Attend?

BSA, Compliance, Sales and Marketing, New Accounts, Deposit Operations and Branch Administration.

"Well worth the time and investment; a lot of practical and good information." -Miano F., Signature Bank