Electronic customer signatures, verification and due diligence have made full compliance with KYC and CDD/EDD requirements harder for many financial institutions. This 60-minute webinar on e-signatures, e-verification and e-CDD explains how to use these electronic methods and what FinCEN and other regulators have said about them.
You'll define each term, review FinCEN, FFIEC and other requirements, and look at common mistakes, AML/CFT internal controls and what to add to KYC and CDD/EDD policies, procedures and practices.
The session also covers industry standards and business norms, enforcement actions involving weak programs, and issues likely to come up in the future.
WHY SHOULD YOU ATTEND?
As electronic technology spreads through the financial sector, staff need to understand how it works, how fast it changes and the risks it brings to customer information gathering and verification.
This session suits frontline BSA/AML, account opening and customer service staff, BSA/AML and compliance officers, audit staff, investigators and SAR decision-makers, and risk managers.
AREA COVERED
- FinCEN regulations and guidelines on electronic information gathering
- FFIEC and other regulatory requirements and guidance
- Items to include in electronic information gathering policies, procedures and practices
- Current industry standards and business norms
- Recent enforcement actions involving weak programs and practices
- Proposed future issues in electronic information gathering
LEARNING OBJECTIVES
- Outline FinCEN and regulatory requirements for electronic information gathering
- Define what counts as an e-signature, e-verification and e-CDD/EDD
- Recognize common mistakes institutions make with electronic processes
- Put internal controls in place to meet AML/CFT laws and regulations
- Add needed elements to KYC and CDD/EDD policies, procedures and practices
- Meet regulatory expectations for electronic information gathering
WHO WILL BENEFIT?
- Front line BSA/AML staff
- Account opening/customer service staff
- BSA/AML officers
- Compliance officers
- BSA/AML audit staff
- Suspicious activity information review staff, investigators, and SAR
- Decision-makers
- Risk managers
As electronic technology spreads through the financial sector, staff need to understand how it works, how fast it changes and the risks it brings to customer information gathering and verification.
This session suits frontline BSA/AML, account opening and customer service staff, BSA/AML and compliance officers, audit staff, investigators and SAR decision-makers, and risk managers.
- FinCEN regulations and guidelines on electronic information gathering
- FFIEC and other regulatory requirements and guidance
- Items to include in electronic information gathering policies, procedures and practices
- Current industry standards and business norms
- Recent enforcement actions involving weak programs and practices
- Proposed future issues in electronic information gathering
- Outline FinCEN and regulatory requirements for electronic information gathering
- Define what counts as an e-signature, e-verification and e-CDD/EDD
- Recognize common mistakes institutions make with electronic processes
- Put internal controls in place to meet AML/CFT laws and regulations
- Add needed elements to KYC and CDD/EDD policies, procedures and practices
- Meet regulatory expectations for electronic information gathering
- Front line BSA/AML staff
- Account opening/customer service staff
- BSA/AML officers
- Compliance officers
- BSA/AML audit staff
- Suspicious activity information review staff, investigators, and SAR
- Decision-makers
- Risk managers