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Customer Due Diligence and Enhanced Due Diligence - 2 Part Series

In recent consent orders, we have learned the value, to law enforcement and our regulators, that we "Know Our Customer". The new account interview should be used to establish a baseline of expected behavior for our customers both business and consumer. During the interview, we are expected to get to the nature, purpose and expected transactions of our customers.

Upcoming
April 15, 2025
April 24, 2025
Presented by Deborah Crawford
$549.00 or 2 Tokens

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Deposit Accounts
  • Deposit Compliance
  • Lending Compliance
  • Risk Management/Legal
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Security Officer
  • Senior Management
  • Training Manager
  • Trainer

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During Part I we will focus on that objective and ask questions which will allow us to risk rate our customers. Then in Part II of our webinar series, once we have established the baseline we will delve into how to look for risk in accounts like charities, PEPs, money service businesses, cannabis-related businesses, and more. We will take it to the next level and understand our risk and our to mitigate that risk.

Series Details

CDD and EDD Part 1: Building a Customer Due Diligence Questionnaire

In May 2016, we received the Customer Due Diligence regulations including beneficial ownership. This program will focus on what has been called the fifth pillar of BSA: Customer Due Diligence. In other words, how does the customer plan to use the account? And why is the customer establishing an account with you?

  • Developing baseline questions
  • Purpose and source questions
  • Transactional questions
  • International questions
  • Consumer and entity accounts
  • Learn to tie the questions to the monitoring system
  • Making the new account interview fluid
  • Completing customer identification programs
  • Other compliance tasks that must be completed
  • Using the interview or questionnaire to prevent identity theft
  • Basic communication skills
  • Checking OFAC

CDD and EDD Part 2: High Risk Customers - Establishing and Changing Risk Ratings

During this program, we will cover the BSA risk issues with opening certain types of customer accounts. These enhanced due diligence requirements can help you mitigate risk and monitor your customer.

  • Hemp-related questions
  • Marijuana-related questions
  • Third-party payment processors
  • Casinos
  • Nonresident alien accounts
  • Politically exposed customers
  • Cash intensive businesses
  • Accounts with international transactions
  • Money service businesses
  • Virtual asset service providers

What You'll Learn

Each webinar in the series will cover specific topics relative to the subject matter.

Who Should Attend

This session is ideal for BSA officers, compliance officers, security officers, marketing, training, branch administration, and new accounts.


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.