FinCEN Final Rule on Customer Due Diligence Requirements | BSA/AML Policy, CIP Procedure

Instructor: Gina Lowdermilk
Product ID: 704927
  • Duration: 60 Min

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-963-2556


Read Frequently Asked Questions

This webinar will explain the requirements of the CDD Rule and its implications. The instructor will help Interpreting key definitions and type of information your institution will need to obtain from customers. He will also discuss how to identify potential changes/updates you may need to make to your BSA Policy, including CIP procedures, and account opening processes. Participants will gain understanding on recordkeeping requirements and understand the kinds of training the new rule requirements will necessitate.

Why Should You Attend:

Most financial institutions have AML programs in place but may not be comprehensive to include the new FINCEN CDD rule. Although they are in place, they need to expand to ensure it is properly address the fifth prong to be included in the program. This topic will help attendees better understand this fifth prong and how the new CDD rule fits into their existing AML program. Best practice guidelines relating to these will be addressed as well as consequences for failing to addressing them accordingly.

In this session, the instructor will discuss how by understanding the obligations as it pertains to the AML, the opportunity to be noncompliant with their requirements will be mitigated more effectively and certain associated problems can be addressed and resolved more efficiently and effectively. Enhanced CDD will ensure it is being effective with its oversight of its customers and helping mitigate the potential of financial crimes from occurring.

Areas Covered in the Webinar:

  • FINCEN’s new CDD rule basic information
  • Purpose and Requirements
  • Fifth Prong Concept
  • Policies and Procedures
  • Consequences for non-compliance

Who will Benefit:

  • BSA Officers
  • BSA Personnel
  • BSA Executive Managers
  • AML Executive Managers
  • Presidents
  • Vice Presidents
  • Fraud Managers
  • Fraud Personnel
  • BSA/AML Auditors
  • Banks
  • Credit Unions
  • Insurance Companies
  • Compliance Consulting Firms

Instructor Profile:

Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS, is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.

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