BSA High-Risk Customers: Identifying, Enhanced Due Diligence & Monitoring
Date(s) - 01/08/2020
2:00 pm - 3:30 pm
With BSA, the higher the risk, the more due diligence and monitoring that are necessary. Have you identified your high-risk customers and products? Are you conducting enhanced due diligence as required?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Create a proper customer risk profile and properly assign risk ratings
- Distinguish which customers should be deemed higher risk
- Determine the appropriate due diligence required at account opening and later throughout the relationship
- Explain when a high-risk customer or product can be reduced to a moderate or low risk
- Conduct a BSA/AML quantity of risk assessment for your institution
BSA/AML compliance programs are always a hot button with examiners and are even more important now. All institutions must use a risk-based approach to ensure their policies, procedures, and processes are commensurate with the risk associated with particular customers or products. This webinar will explain how to identify and assess the risk – low, medium, or high – associated with customers and products. You’ll learn the additional steps to conduct the “enhanced” due diligence required for higher-risk customers and the customer and product due diligence necessary for ongoing monitoring.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session will benefit all account opening personnel, compliance staff, BSA and security officers, operations department staff, auditors, and managers.