Date(s) - 04/08/2020
1:00 pm - 2:00 pm
Learn the latest trends in emerging technology related to electronic information gathering and how this new technology affects KYC and CDD/EDD information gathering and verification. This training will provide attendees with the latest guidance and information from financial regulators and FinCEN.
- An overview of FinCEN and regulatory requirements and guidance related to electronic information gathering
- Defining exactly what constitutes an E-Signature, and E-Verification, and E-CDD/EDD
- Common mistake financial institutions make related to electronic information gathering
- Internal controls needed to ensure that electronic information gathering complies with AML/CFT laws and regulations
- Needed additions to KYC and CDD/EDD policies, procedures, and practices to improve current bank guidance
- Regulatory expectations for compliance with electronic information gathering
In recent years the increased use of electronic means to obtain customer signatures, to conduct verification of customer information, and to conduct overall customer due diligence has posed problems for financial institutions to fully comply with KYC, CDD/EDD requirements. This webinar will discuss methods of using electronic means for these activities and will discuss up-to-date guidance provided by FinCEN and financial regulators in the use of electronic platforms for these processes.
Staff and employees of financial institutions need to be aware of the latest trends in emerging technology related to electronic information gathering, the methods used and the risks associated with this type of information gathering. This presentation will allow attendees to obtain background information on how this new technology affects KYC and CDD/EDD information gathering and verification, it will explain to attendees how this new technology is constantly changing, and provide attendees with the latest guidance and information from financial regulators and FinCEN.
- FinCEN regulations and guidelines related to electronic information gathering
- FFIEC and other regulatory requirements and guidance
- Items to include in your electronic information gathering policies, procedures, and practices
- Current industry standards and business norms related to electronic information gathering
- Recent enforcement actions related to weak programs and practices
- Proposed future issues related to electronic information gathering
Banks and Money Service Businesses will benefit from this training. The following titles should attend:
- Front line BSA/AML staff
- Account opening staff
- Risk managers
- BSA/AML Officers
- Compliance Officers
- BSA/AML Audit staff
- BSA/AML Consultants
- SAR decision makers
- Risk Managers
Thomas E Nollner has more than 35 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.
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