BSA/AML Contextual Awareness of High Risk Customers

Get in-depth information on how to identify, evaluate, and manage your high-risk customers. Assess their impact on your bank’s AML program.

Course Overview

High-risk customer reviews have been a requirement since the first FFIEC Examination Manual was published. Recent guidance for Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) further defines the expected approach for institutions to properly identify and evaluate high-risk customers. The regulators do not, however, detail the day-to-day approach required to meet the required customer monitoring.

In this 90-minute webinar, We will discuss about what makes a customer or service high-risk. What extra due diligence is required when the customer is high risk? And can the high-risk customers and services impact your bank’s BSA risk rating?

Areas Covered

• An overview of FinCEN, FATF, and other financial regulatory requirements
• The July 3, 2024, NPRM for BOI reporting under BSA/AML regulations
• Defining and clarifying the written requirements of the spirit of the law
• Common mistakes financial institutions make when identifying high-risk customers
• How to ensure existing and new high-risk customers are identified properly
• How to conduct high-risk customer reviews that have tangible benefits for your BSA Program
• Real-life examples of high-risk customer reviews with tips on how to use these reviews for a financial institution’s environment
• How to avoid examiner and regulator criticism regarding high-risk customer reviews
• Background related to the need for information about high-risk customers
• FFIEC guidelines for determining high-risk customers
• FinCEN expectations for a good high-risk customer program
• Items to include in your high-risk program
• Current issues related to the high-risk process
• Recent enforcement actions addressing weak high-risk programs

Why you should attend?

Banks need to stay up-to-date with regulatory requirements and adapt their BSA/AML programs to effectively mitigate threats arising from high-risk customers and maintain financial stability.

This webinar will examine the regulatory background behind the determination of high-risk, weighting and rate factors leading to high-risk scoring, asking when is a high-risk customer too hot to handle, and what is the risk appetite of the institution.

Alternatively, you can also book your tickets here!

Who will benefit

• BSA Officers
• BSA Coordinators
• Compliance Officers
• Security Officers
• Risk Managers
• Relationship Managers or Consultants
• Personal bankers
• Auditors
• Senior Management (CRO, CEO, President, etc.)

About the Instructor

Doug Keipper, MBA, CAMS, CACTS

• Certified Anti-Money Laundering Specialist (CAMS) since 2005
• Former Vice President and Bank Secrecy Act Officer for a billion-dollar bank
• Former Special Teams Senior BSA/AML Investigator at a $220 billion bank.
• Sold BSA software for eight years
• Teaching anti-money laundering classes since 2008
• Has talked with over 500 BSA officers throughout the USA and Caribbean
• Spent over 20 years in retail banking, wholesale mortgages, and financial services