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and to periodically monitor the customer relationship and account activity throughout the life of the relationship. This webinar will review the expectations for customer identification, know-your-customer, or customer due diligence programs. We will also touch on expectations for enhanced due diligence requirements for customers identified as having an increased money laundering or terrorist financing risks.
Key Takeaways:
– Understand the customer identification requirements that apply when the customer relationship is established.
– Know the expectations for identifying entity customers, including beneficial ownership requirements
– Learn to identify higher risk customers that should be subject to enhanced due diligence or more rigorous monitoring.
– Identify the areas where banks have discretion to tailor policies to their own risk profile and where banks are required to adhere to clear standards outlined in the regulation
– Walk away with updated best practices for ensuring your bank’s customer identification program aligns with today’s legal and regulatory landscape.
Who Should Attend: Account Opening Staff, Compliance Officers and other relevant compliance team members, BSA Officer and supporting staff, Internal Audit Staff, and Branch Staff.
Presenter:
Brett Goodnack, JD, CAMS
Associate General Counsel
Brett Goodnack, JD, CAMS, serves as an Associate General Counsel for Compliance Hub. He graduated from Duquesne University (Kline) School of Law, achieving the William Arthur Hascall McKinney Award for Excellence in Law, and working in the Preliminary Hearings Division of the Allegheny County Office of the Public Defender. Brett earned a Bachelor of Science degree in Crime, Law, and Justice from Penn State University.
Brett brings with him over a decade of professional passion and practice in due diligence and risk mitigation in the financial services industry, having served as an advisor both consulting to and advocating on behalf of diverse financial institutions. Most recently, he acted as Associate Director for a multinational investment bank in their anti-money laundering and KYC regulatory space. Brett has a gamut of experience in the field of banking compliance, ranging from fiduciary and trust administration, to the foundational development of risk-based operating procedures and processes for governance consulting firms.