Implementing new Customer Due Diligence rules will impact your new business accounts procedures. This webinar will give you step-by-step written procedures guidelines and workbook for these new rules. The opening of multi-tiered business accounts and the determination of beneficial ownership and exemptions will be an important part of the new account business account process. Learn from A to Z the best practices for opening business accounts, documenting the authority and changing signers in the new regulatory environment.
- What authority is need to open every type of business account
- Why we do what we do in establishing ownership and liability
- What the resolution does and does not do on business accounts
- Impact of CIP and CDD from the Bank Secrecy Act on opening accounts
- Detecting beneficial owners
- Implementing new procedures for customer due diligence and beneficial owners
- Changing signatories
- Multi-tiered LLCs
- Partnerships with businesses as partners
- Corporations dba other entities
- Trusts as owners of businesses
Who Should Attend?
Branch Operations, Deposit Operations, Training, Compliance, New Accounts Representatives and all Branch Personnel
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