CIP & CDD: Regulations, Exam Procedures & FAQs 2024 | Community Bankers Webinar Network | 10 July 2024 | Webinar

When do you have to ask purpose, source, and anticipated volume questions? How can compliance with our program be enforced? These are hard questions and the pending CDD legislation doesn’t help. This program will evaluate CDD and EDD regulations and exam guidance and provide insight on how to proceed with a program that is sales friendly. Join us for a look at the regulations line-by-line and what to expect with upcoming changes.

Topics Covered During This Webinar:
• The Customer Identification Program (CIP) regulation line-by-line
• What information is required before opening an account?
• Required documentary and non-documentary verification
• Should you add more types of identification? What types are available?
• Do you keep CIP up to date?
• How should online banking be addressed?
• Can you back off from your 2003 CIP now that more systems are in place?
• Examination expectations on Customer Due Diligence (CDD)
• Keeping accountholder records up to date
• Anticipating transactions and activities
• Enhanced due diligence (EDD) on high-risk accountholders
• Developing the questionnaire
• When and how should an account be closed?
• Working with sales and not against them
• CDD rules — beneficial owners, controlling person, and the form
• Renewals, IOLTAs, trusts, and multi-tiered business ownership

Who Should Attend?
This webinar will benefit BSA officers, BSA support personnel, deposit operations staff, compliance officers, and trainers.

2024 Speaker

PRESENTER:

Deborah L. Crawford
President, at Gettechnical Inc.