BSA Series: Customer Due Diligence Preparing for the Change

Get a complete update on Customer Due Diligence (CDD). We'll look at exam issues, new and/or proposed rules, and all the information you should gather at the beginning of the relationship and throughout the relationship. You'll receive a sample policy, procedures and more to build a complete due diligence program

Topics Covered:

  • Writing your policy on Customer Due Diligence
  • Developing your procedures on Customer Due Diligence
  • Who is a beneficial owner? Are there exemptions?
  • What is a legal entity?
  • What do we have to do on trusts, IOLTAs, nonprofits etc?
  • What kind of documentation and information should we acquire on beneficial owners?
  • What times of information should be gathered on consumer and business accounts for due diligence?
  • What is meant by purpose of account, source of funds, source of wealth?

Who Should Attend?

BSA Officers, BSA staff, deposit operations, compliance, security, training and sales.