KYC/CDD Issues/Know Your Customer/Customer Due Diligence Issues


Instructor: Thomas Nollner
Product ID: 706637
Training Level: Intermediate

  • Duration: 60 Min
This webinar will discuss the background of the KYC/CDD process as explained in the Federal Financial Institutions Examination Council’s BSA/AML Examination Manual. You will be exposed to the information you need to gather, how the information is used during the AML process, and how the regulators will examine your institution to ensure you comply with all of the legal requirements related to KYC/CDD.
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Why Should You Attend:

You should attend this webinar so that you are aware of and understand the background of the KYC/CDD process, why gathering customer information is so important, how the regulators will examine your institution for compliance, and some of the costs of non-compliance. We will also review and discuss the new requirements of 31 CFR Parts 1010, 1020, 1023, 1024, and 1026 as related to Customer Due Diligence Requirements for Financial Institutions so that your financial institution develops procedures and practices to ensure you fully comply with the May 2018 changes to the requirements related to beneficial owners.

This includes, rules for banks, brokers or dealers in securities, mutual funds, and futures commission merchants and introducing brokers in commodities. We will discuss the purpose of the regulatory action, the major provisions fo the rulemaking (beneficial ownership and anti-money laundering program rule amendments), and costs and benefits of implementing the rule. We will discuss the background of the Bank Secrecy Act. This webinar will provide you with information regarding basic KYC/CDD compliance issues. You will learn about the background of KYC/CDD, what customer information you should gather, why you gather the information, and how the information fits into the identification, monitoring, and reporting of suspicious activity. In addition, you will learn of current issues and the latest updates and changes to the rules and regulations related to Customer Due Diligence Requirements for Financial Institutions (31 CFR Parts 1010.230 and 1020). We will focus on the requirements for obtaining KYC/CDD for beneficial owners which takes effect May 11, 2018.

Areas Covered in the Webinar:

  • Background of KYC
  • Purpose of KYC
  • Background of CDD
  • Purpose of CDD
  • How to use KYC and CDD Information
  • How to update KYC and CDD information
  • How KYC and CDD affect the Suspicious Activity Process

Who Will Benefit:

  • Risk Managers
  • BSA Officer
  • Employees involved with any aspects of the KYC/CDD process
  • Front-line employees
  • Tellers
  • Account opening staff
  • Customer relations officers
  • Senior management
  • Regulators
  • Consultants
  • Auditors
Instructor Profile:
Thomas Nollner

Thomas Nollner
Banking AML and CFT Consultant, Various International Consultant Firms

Thomas E Nollner has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. As a safety and soundness examiner he examined national banks for capital adequacy, asset quality, management issues, earnings concerns, and liquidity funding. As a compliance examiner, he examined national banks for compliance with consumer laws and regulations such as the Truth-in-Lending Act, the Real Estate Settlement Procedures Act, the Flood Disaster Protection Act, the Community Reinvestment Act, and AML/CFT laws and regulations. His specialty was as an AML/CFT examiner, where he analyzed a bank’s AML/CFT program to ensure that it complied with applicable banking laws, rules, and regulations; he reviewed the bank’s suspicious transactions identification, monitoring, and reporting process; he traced proceeds and transactions through several layers of activity; and, he reviewed a bank’s processes and procedures to determine root causes of AML/CFT program weaknesses.

Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the U S Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, Thomas worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).




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