Managing AML/KYC Compliance Risk - CDD/EDD, Transaction Monitoring and More

This training program will examine how to manage the AML/KYC compliance risk, which is a critical element in a robust BSA/AML compliance program. It will also explore customer identification and on-boarding and CDD/EDD/on-going risk based monitoring.

Why Should You Attend:

There was a time when a wire transfer may come in with the "By Order" party listed as "My Good Customer." No longer.

That statement sums up AML/KYC Risk. Essentially there is no such thing as "My Good Customer." All customers, irrespective of origin, charter, impeccability, bring with them risk. The challenge to the financial institution comes in the form of identifying the customer and the customer's surroundings. It is insufficient to see a customer, whether an individual or legal entity, as someone or something unto itself. Overlooking a customer's relationships may lead to serious difficulty as the relationship to the institution develops.

This webinar will explore why gathering the required information for the Customer Identification Program is a good start, but knowing what the customer plans to do with the account and actually does with it is also critical to managing customer risk.