TOPIC: FFIEC

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

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.

    5 Things to look for in an Overdraft Service Provider

    Your overdraft service provider can be one of the most important business partners your financial institution employs.

    This document presents critical factors to consider to select an overdraft service provider that can successfully help you:
    • Provide world-class service to your account holders
    • Maximize revenue
    • Manage risk
    • Remain compliant
    Get "5 Things to look for in an Overdraft Service Provider" today!

    http://bit.ly/2KZVsqK

      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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        Is Your Overdraft Program a Black Box?

        Do you really understand how your overdraft management program calculates overdraft limits? Can you explain the specific factors, trends and overrides that determine the overdraft limit?
         
        The answers to these, as well as other key questions, shouldn’t be a mystery. Data flows into your system, the data is processed and your system outputs an overdraft limit. But can you describe exactly what happened during that process to your examiners?
         
        If you can, you’ll be equipped to customize your overdraft program to provide superior service to your account holders! If you can’t, then your overdraft program is a black box. 

        Download our free white paper today! 

          Archived Webinar | How do you find your high-risk customers? - Watch Now

          Archived Webinar
          How do you find your high-risk customers?
          Eliminate Manual Processes for Identifying Private ATM Owners, MSBs, NGOs, MRBs, CIBs, and more

          Originally Presented: July 31, 2019

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          Financial institutions invest significant time and resources into identifying customers in high-risk categories, such as Private ATM Owners, Money Service Businesses (MSBs), Marijuana-Related Businesses (MRBs), Non-Governmental Organizations or Charities (NGOs), Cash Intensive Businesses (CIBs), and more.

          Unfortunately, for most compliance professionals these processes are primarily manual today. Continuously updating and reviewing reports and spreadsheets can hinder your ability to meet examiners expectations, fulfill compliance requirements, and follow your institution’s policies for uncovering high-risk customers.

          Join us to learn how to alleviate manual processes for identifying higher-risk customers, automate due diligence processes, and strengthen your overall compliance program.

          Highlights of this webinar:
          • Review of CDD/EDD requirements and expectations for higher-risk categories of customers as outlined in the FFIEC BSA/AML Examination Manual.
          • Discussion on the challenges and potential risks of conventional processes for manually identifying and managing high-risk customers.
          • Overview of new technology approaches with targeted monitoring for risk factors, alerting you to unidentified higher-risk categories.
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