Lorman offers professional resources regarding COVID-19 and the 2020 Election

Live Webinar

60-minute live streaming program
  • March 11
  • 1:00 - 2:00 pm EST

BSA/AML Customer Identification Program and Due Diligence Basics

March 11

Understand the procedural issues for compliance and areas of risk for enhanced due diligence.

This material will provide an overview of BSA/AML/Know Your Customer (KYC) components, including the Customer Identification Program (CIP) and beneficial owner Customer Due Diligence (CDD) Rule. We will cover key definitions and procedural issues for compliance and highlight areas of risk for enhanced due diligence. Finally, we will discuss issues experienced during the pandemic, including accelerated digitization and potential for future information from the Anti-Money Laundering Act of 2020.

Learning Objectives

  • You will be able to define Know Your Customer.
  • You will be able to describe the Customer Due Diligence Rule.
  • You will be able to discuss identity verification.
  • You will be able to explain beneficial ownership (Customer Due Diligence Rule).

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

BSA/AML Background
Know Your Customer (KYC)
Customer Due Diligence (CDD) Rule
  • Customer Identification and Verification
  • Risk Assessment
  • Customer Risk Profiling
  • Customer Monitoring
  • Recordkeeping and Retention
The CIP Rule
  • Identifying a Customer
  • Identifying an Account
  • CIP Notice
Beneficial Ownership (Customer Due Diligence Rule)
  • Identifying a Legal Entity Customer
  • Identifying a Beneficial Owner
Identity Verification
  • Required Identifying Information
    • Appropriate Identifying Documents
    • Identifying Customers Who Cannot Appear In Person
  • Verifying Customer Identity
  • Reliance on Information From Other Financial Institutions or Third Parties
Enhanced CDD
  • Customer Risk Factors
  • Enhanced CDD Measures
Customer Monitoring
  • Customer Risk Profiles
  • Risk-Based Monitoring
Recordkeeping and Retention Requirements
Recent Developments
  • Digitization and the Pandemic
  • AML Act of 2020
  • Corporate Transparency Act
  • Enforcement Priorities
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AL CLE 1.0
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.0
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.0 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • CPE 1.2 including Specialized Knowledge 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, loan officers, loan department personnel, branch managers, credit and collections managers, controllers, accountants, compliance officers and auditors.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jules Carter

Jules Carter

Moore & Van Allen PLLC

  • Associate on Moore & Van Allen PLLC's Litigation team
  • Practice is focused primarily on complex commercial litigation and financial regulatory compliance issues
  • Financial regulatory experience includes helping financial institution clients respond to regulatory enforcement actions and address the supervisory concerns of state and federal banking authorities
  • Assists clients in their recovery and resolution planning efforts, helping prepare board governance playbooks that guide actions and decision-making by the officers and senior management of their material entities
  • Involved in significant efforts related to anti-money laundering (AML) and countering the financing of terrorism (CFT), helping to prepare training materials for compliance professionals as they reexamine their internal controls and undertake initiatives to achieve compliance with AML/CFT statutes and regulations
  • J.D. degree, Duke University School of Law
Barbara S. Meeks

Barbara S. Meeks

Moore & Van Allen PLLC

  • Partner in Moore & Van Allen PLLC’s Financial Regulatory Advice and Response
  • Over 25 years of experience counseling financial institutions
  • Previously led the Global Commercial Banking team at Wells Fargo for 20 years, where she was responsible for legal support of AML/BSA matters for various small business, wealth management and commercial banking divisions
  • Currently advises clients on AML/BSA regulatory and compliance matters
  • Member of the Association of Certified Anti-Money Laundering Specialists (ACAMS)
  • Can be contacted at https://www.mvalaw.com/professionals-885.html
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • Course Manuals
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Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 406928
Published 2021
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