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Alert! FFIEC Issues New Customer Due Diligence and Beneficial Ownership Examination Procedures
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6/13/2018
When: 9:00 AM
Where: United States

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Program Content:

On May 11th, 2018, the Federal Financial Institutions Examination Council (FFIEC) issued new examination procedures on the final rule, “Customer Due Diligence Requirements for Financial Institutions,” issued by the Financial Crimes Enforcement Network (FinCEN) two years prior on May 11th, 2016.

These examination procedures apply to banks, savings and loan associations, savings associations, credit unions, and branches, agencies, and representative offices of foreign banks.

The new examination procedures replace those in the current "Customer Due Diligence - Overview and Examination Procedures" section of the FFIEC's Bank Secrecy Act/Anti-Money Laundering Examination Manual. In addition, a new overview and examination procedures were developed for the beneficial ownership requirements for legal entity customers.

What You Will Learn:
      •How to audit the new beneficial ownership procedures
      •What important exam procedures will impact your deposit, loan and other account services
      •Two parts of the exam procedures
               ◦Customer Due Diligence (CDD)
               ◦Beneficial Ownership (BO)
      •Learn the steps for complete success following BO procedures


Who Should Attend?

BSA Officers, Deposit and Loan Operations, Compliance and Training

Presenter:

Deborah Crawford is the President of Gettechnical Inc., a Virginia 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 30+ years of combined teaching and banking experience.

 

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