New Business Account Interview-CIP, CDD and Legal Issues
The New Business Account Interview is the frontline security against fraud, money laundering and illegal activity at your financial institution.
You may also be the most outstanding salesperson at your institution. Today, it is not enough to just take the money and open the account Who is it you are doing business with? Who really owns this company? What kind of business is this company in? It has become the job of the deposit specialist opening the account to dig deeper to find out if this company has any illegal activities that could impact your financial institution in a negative way. We have many compliance tasks and due diligence requirements that must be met in the New Business Account Interview. This program builds the compliance tasks, worksheets and requirements that must be met when you open an account. It will help you gather and use pertinent information to help you “know your customer”. You won’t want to miss this chance to become the business expert at your financial institution.
- Customer Identification Requirements for Businesses: Who is exempt? Who is a customer?
- Customer Due Diligence requirements: Gathering transaction data and using it
- Risk rating your business customer-products, services and types of customers that cause concern
- Unlawful internet gambling
- New Issues for Money Service Businesses
- Understanding beneficial ownership
- The signature card, the resolution and the disclosures-types of businesses and requirements
- Business Debit card disclosures
- Red flags for identity theft
- Putting it all together in the interview and worksheet
New Accounts Representatives, Branch managers, branch operations, deposit compliance officers and anyone that works the frontline.
Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 20+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hrs.
Either Live or 6-Month On-Demand Webinar: $255
Both Live and 6-Month On-Demand Webinar: $355
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.