$299.00 - Online: Bank Secrecy Act: Customer Due Diligence and Beneficial Ownership (Individual) - Nonmember
$179.00 - Online: Bank Secrecy Act: Customer Due Diligence and Beneficial Ownership (Individual) - Member
Customer Due Diligence is the fifth pillar of a compliance Bank Secrecy Act and Anti-Money Laundering Program. In this course you will learn about the Customer Due Diligence rules including the following requirements and how to comply with them: customer identification and verification; beneficial ownership identification and verification; using customer relationships to develop a customer risk profile; and monitoring for reporting suspicious transactions. This course is intended for new accounts personnel, both deposits and loans and BSA and compliance personnel. Rev–Mar. 2021. Course length ≈ 25 minutes.
Learning Objectives:• State the four core elements of a customer due diligence program• Understand the difference between the requirements for CIP versus Beneficial Ownership• Know the rules for opening an account for a legal entity customer• Work with your BSA team to risk rate your customers and monitor their activity• Ensure your bank has compliant written policies and procedures to address each of the elements of a customer due diligence program