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BSA/AML Contextual Awareness of High Risk Customers
Presented By ComplianceOnline
Tuesday, September 7th at 1:00pm EST
Online sale ends: 09/07/21 at 12:00pm EST
online event
6201 America Center Drive
Suite 240
San Jose, CA 95002, USA
San Jose, CA 95002
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Description
The management of compliance risk requires a thorough evaluation of the customer base. Determining the risk rating of a customer – especially those seen as High Risk – plays an important role in the construction of a complete and accurate BSA/AML Risk Assessment . The determination of High Risk Customers may involve a wide array of variables, carefully rated and scored, or a single variable that overrides all others. The factors to calculate high risk – or any risk – must drive an on-boarding system – computer-based or manual. How many high-risk customers must an institution have before the meaning of high risk becomes meaningless? The USA Patriot Act has laid out the requirements for Customer Due Diligence and Enhanced Due Diligence for High Risk customers. The recently implemented FinCEN CDD Rule which formalized the concept of beneficial ownership, provides guidance for the management of high risk customers.
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1:00pm to 2:00pm
All Ages
18887172436 UPCOMING EVENTS
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