This Bank Secrecy Act – Customer Due Diligence and Beneficial Ownership online training course explores the Customer Due Diligence rules.
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.
Course Learning Objectives:
On completion of this Bank Secrecy Act – Customer Due Diligence and Beneficial Ownership course, the user will:
- 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
1. Customer Identification and Verification
2. Beneficial Ownership
3. Customer Risk Profile and Ongoing Monitoring
This Bank Secrecy Act – Customer Due Diligence and Beneficial Ownership online training course was designed for new accounts personnel, both deposits and loans and BSA and compliance personnel.
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