BSA: Opening Deposit Accounts for High Risk Customers

Updated for Beneficial Ownership

New Customer Due Diligence exam procedures shift our focus to risk rating all accounts. In the process what are we required to do on higher risk customers. Are you ready for the new exam procedures on risk, baselines and enhanced due diligence? This webinar will focus on how to conduct the new account interview to obtain the nature, purpose and transactional questions to surface our high-risk customers. Who are they and what should you be doing with their info—the BIG questions.

Covered Topics:

  • How to ask nature, purpose and source questions
  • Five big channels of money and how our customers will increase risk with transactions
  • Type and occupation questions
  • Geography questions
  • Risk score your customers
  • Obtain documentation to mitigate risk
  • Nonresident aliens, PEPs, Embassy and Consulate customers
  • Doctors, lawyers and CPAs
  • Cash intensive businesses>
  • Third party payment processors
  • Money Service Businesses
  • Third Party Payment Processors
You will receive: New Account Profiles, New Account Handbook and risk matrix

Who Should Attend?

BSA and Support Staff, Compliance, New Accounts, Personal Bankers, Deposit Operations and Training.