CIP & CDD: Regulations, Exam Procedures & FAQs
July 10, 2024
Live Webinar:
DateJul 10, 2024Duration90 minutes
12:00 PM PDT01:00 PM MDT
02:00 PM CDT03:00 PM EDT
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar:
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
What does it mean to “know” your accountholder?
When do you have to ask purpose,
source, and anticipated volume questions? How can compliance with our program be
enforced? These are hard questions and the pending CDD legislation doesn’t
help. This program will evaluate CDD and EDD regulations and exam guidance and
provide insight on how to proceed with a program that is sales friendly. Join
us for a look at the regulations line-by-line and what to expect with upcoming
changes.
TOPICS COVERED
DURING THIS WEBINAR:
- The Customer Identification Program (CIP) regulation line-by-line
- What information is required before opening an account?
- Required documentary and non-documentary verification
- Should you add more types of identification? What types are available?
- Do you keep CIP up to date?
- How should online banking be addressed?
- Can you back off from your 2003 CIP now that more systems are in place?
- Examination expectations on Customer Due Diligence (CDD)
- Keeping accountholder records up to date
- Anticipating transactions and activities
- Enhanced due diligence (EDD) on high-risk accountholders
- Developing the questionnaire
- When and how should an account be closed?
- Working with sales and not against them
- CDD rules — beneficial owners, controlling person, and the form
- Renewals, IOLTAs, trusts, and multi-tiered business ownership
WEBINAR DETAILS
Is it time to change your CIP written in 2003? Does
anything above prompt questions or concerns? This webinar will explore changing
your CIP in light of new systems, processes, and technology in 2024. Your
program should shift with the new technologies and identifications in the
marketplace. We will look at the regulation line-by-line and point out avenues
of change to explore in 2024.
WHO SHOULD ATTEND?
This webinar will benefit
BSA officers, BSA support personnel, deposit operations staff, compliance
officers, and trainers.
TAKE-AWAY TOOLKIT
- New accounts handbook
- BOI handbook
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright.
Transmission, retransmission, or republishing of any webinar to other
institutions or those not employed by your institution is prohibited. Print
materials may be copied for eligible participants only.
Presented By
Gettechnical, Inc.
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC