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Wednesday, December 14, 2011
12:00 pm - 1:30 pm Pacific
1:00 pm - 2:30 pm Mountain
2:00 pm - 3:30 pm Central
3:00 pm - 4:30 pm Eastern
Meet the Presenter
Deborah L. Crawford, gettechnical inc
CLICK HERE TO LEARN MORE ABOUT YOUR REGISTRATION OPTIONS
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The new business account interview is the frontline protection against fraud, money laundering, and unlawful activity at your credit union. It is not enough to just take the money and open the account. You have to do a thorough interview. With whom are you doing business? Who really owns the company? What does this company do/provide?
It has become the responsibility of the deposit specialist to determine if a company has any illegal activities that could negatively impact your credit union. Many compliance tasks and due diligence requirements must be met during the new business account interview. This webinar will help you gather and use pertinent information to help you know your member. Learn about the compliance tasks, worksheets, and requirements that must be met when you open an account.
HIGHLIGHTS
- Identification requirements for businesses: Who is exempt? Who is a “customer”?
- Due diligence requirements: gathering transaction data and using it
- Risk rating your business member: products, services, and types of members that cause concern
- Unlawful Internet gambling
- New rules in 2012 for Money Service Businesses – definitions and requirements are changing
- Understanding beneficial ownership
- The account card, account authorization, and disclosures – types of businesses and requirements
- Business debit card disclosures
- OFAC
- Red flags for identity theft
- Putting it all together in the interview and worksheets
WHO SHOULD ATTEND?
This informative session is designed for member service representatives, branch managers, branch operations, deposit compliance officers, and anyone that works the frontline.
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