TOPIC: FFIEC

Infographic | Managing & Mitigating Risk: Challenges of CDD/EDD for Higher-Risk Customers - Download Now

Infographic
Managing & Mitigating Risk
Challenges of CDD/EDD for Higher-Risk Customers

Download Now

Financial institutions are facing significant Customer and Enhanced Due Diligence (CDD/EDD) challenges for higher-risk categories of customers as outlined in the FFIEC BSA/AML Examination Manual.

This infographic provides an easy-to-understand overview of high-risk customers, including expectations from examiners for risk-based procedures, a visualization of progressive methods of due diligence and suspicious activity reporting, current challenges of conventional CDD/EDD approaches, and how to strengthen compliance with an end-to-end approach to high-risk customer management.

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      Verafin Tour 2020 | Agenda Announced - Hot Topics at Free Seminars Near You

      Verafin Tour 2020 - Agenda Announced
      Fraud Detection & BSA/AML Regional Seminars


      Join us for a complimentary seminar in a city near you in June, as industry and product experts discuss trends in financial crime and banking technology. Get in-depth training on crime detection and investigation strategies.

      See all locations

      2020 Agenda

      Fraud Trends and Technology
      Financial institutions and customers are facing growing threats from fraudsters and evolving scam scenarios, including check schemes, card compromise, online account takeover and business email compromise. In this session, industry and technology experts will outline new approaches to prevent losses and improve efficiencies in fraud management programs, including big data and machine learning.

      Industry Reflections and Predictions with Guest Speaker Jim Richards
      Former top banking executive and industry expert, Jim Richards will provide insights into the regulatory and anti-financial crime industry by reflecting on the journey that led to the current BSA/AML framework, and examine the challenges of providing actionable intelligence to law enforcement.

      Optimizing AML Investigations
      With the increasing complexity of today’s BSA/AML landscape, financial institutions are facing increasing challenges to keep pace with changing regulatory requirements, daily compliance workloads, and complex money laundering investigations. Industry and product experts will provide an overview of best practices and approaches to improve efficiency, ensure compliance, and uncover money laundering activity.

      Big Data Intelligence and the Way Forward for AML
      Big data is key to the future of AML and financial crime detection. In this special session, industry and technology experts will discuss the limitations of current approaches to detecting financial crime and provide insights into a way forward for AML by leveraging technology-enabled solutions, including data lakes and consortium data.

      Beyond Due Diligence: Best Practices for High-Risk Customer Management
      Institutions are under increased regulatory pressure to meet requirements for CDD/EDD, particularly regarding the identification, segmentation, stratification, and surveillance of FFIEC high-risk customer types. In this session, industry and product experts will discuss the benefits of a segmented, stratified approach to high-risk customer management, outline best practices for developing risk models for customers in higher-risk categories, and demonstrate how technology can improve the effectiveness and efficiency of your CDD/EDD processes.

      Attendees will receive 5 CAMS, 6 CAFP, 6 CRCM credits, or may be eligible to receive up to 5 Continuing Professional Education (CPE) credits towards industry accreditation programs, such as CFE and CFCS.

      Register now for free