AML Essentials: A Seminar for Compliance Beginners

Course Number: Seminar

Course Code: n/a

Are you initiating a career as an AML Compliance professional ?
Are you in need of an AML essentials refresher seminar?
Are you interested in obtaining a better understanding of AML basics as they impact your professional responsibilities?

Then this seminar will assist you in achieving these goals.

Seminar Objectives:

At the completion of the seminar, participant would have reviewed concepts related to:

-Four Pillars in an AML Program
-The Fifth Pillar and New Requirements associated with Beneficial Ownership
-Difference between CIP (Customer Identification Program), CDD (Customer Due Diligence) and EDD (Enhanced Due Diligence)
-A review of requirements associated to the CDD Beneficial Ownership final rule implemented on May 11, 2018, and the importance in account on-boarding of commercial accounts.
-Growing threats associated to ID fraud and CIP validation process
-The concept of beneficial ownership and importance of accurate client identification
-Private Investment companies (PICs) and multi-layer corporate structures
-Legal implications and potential exposure to Civil Penalties and/or Enforcement Actions in your present and future career
-OFAC: What is required from us?
-Potential risk and exposure when doing business with international clients: Specially Designated Nationals and overview of OFAC Sanctions
-Senior Political Exposed Persons: Implications, Risk and Identification

Audience: Participants who are beginning their career in BSA/AML Compliance, and staff in financial institutions with direct customer contact who want to obtain a general and basic understanding of the impact that Compliance has in their job responsibilities.

Prerequisites: n/a

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Member Price: $375.00
Non-Member Price: $425.00
Textbook Charge: $0.00

Credits: 0.50

Length: 6 Hours

ABA Training