Beneficial Ownership Update - It’s Complicated!

What does 2024 bring for beneficial ownership rules? We’ll discuss which businesses have to register on FinCEN’s BOSS portal, and unpack other important updates in this webinar.

Recorded Tuesday,
February 13th, 2024
Presented by Deborah Crawford
2h total length
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • General Compliance
  • Lending
  • Lending Compliance
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Commercial Lender
  • Compliance Officer
  • Customer Service Representative
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Senior Management

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Alert! Beneficial Ownership Information Access and Safeguards Final

The Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the access and safeguard provisions of the Corporate Transparency Act (CTA) (the “Access Rule”). The Access Rule prescribes the circumstances under which beneficial ownership information (BOI) reported to FinCEN may be disclosed to authorized BOI recipients, and how it must be protected. The Access Rule reflects FinCEN’s commitment to creating a highly useful database for authorized BOI recipients while protecting this sensitive information from unauthorized disclosure.

In accordance with the CTA, the Access Rule provides access to BOI to Federal agencies engaged in national security, intelligence, or law enforcement activity; State, local, and Tribal law enforcement agencies with court authorization; foreign law enforcement agencies, judges, prosecutors, and other authorities that meet specific criteria; financial institutions with customer due diligence requirements and regulators supervising them for compliance with such requirements; and U.S. Department of the Treasury (Treasury) officers and employees. Each category of authorized recipients is subject to security and confidentiality protocols aligned with applicable access and use provisions. Business owners begin registering their businesses on January 1, 2024, through a portal on FinCEN's website called BOSS. This secure system is unlike the MSB registration which is a much more public database. Which businesses have to register? When do they have to register? Do financial institutions have to do anything? Are we going to live with two beneficial ownership rules and for how long? All these questions and any updates will be addressed during this webinar.

During this webinar, you will receive the latest update on BOI and its newest Part I and II rule!

What You'll Learn

  • Who has to register?
  • What are the exemptions, exceptions, and exclusions?
  • Who is an owner or control person?
  • What about trusts?
  • Has the banking rule been produced yet?
  • Do we use the old rule while companies use the new rule?
  • Learn about everything we have on beneficial ownership in 2024


  • The Access Framework
  • Authorized Recipients
  • Security and Confidentiality Requirements
  • Re-Disclosure of BOI By Authorized Recipients
  • Violations and Penalties
  • Implementation of BOI Access
  • Next Steps

You will receive an updated BOI Handbook with everything we have at this point.

Who Should Attend

BSA Officers, Compliance, Operations, Training, and anyone who opens accounts will find this webinar valuable.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.