TOPIC: FFIEC

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

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

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“Although any type of customer account is potentially vulnerable to money laundering or terrorist financing, by the nature of their business, occupation, or anticipated transaction activity, certain customers and entities may pose specific risks.”
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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    Banks and Credit Unions: Break Down Your Data Silos to Build Up Your Revenue!

    When your account holder data is spread across disparate systems in multiple lines of business, every aspect of your organization’s performance is impeded from acquisition to onboarding to retention – meaning that your institution has likely missed critical service and marketing opportunities in your account holders’ journeys.
     
    Banks and credit unions that are seeking to become more efficient, productive and agile need to centralize their data into a unified platform.
     
    Download our free white paper to learn about the many ways you can build up your financial institution’s revenue by breaking down your data silos!