September 12, 20023 Findlay, Ohio

September 13, Columbus, Ohio

Customer Due Diligence (CDD)– 2024 and Beyond

The software system and mechanics that the government will use to implement this rule in full is not yet available. However, we will cover everything that we know about the updated CDD rule changes that will be effective January 1, 2024. Hopefully the “missing” information will be available prior to the seminar date, so that we can include it in the presentation.  If not, we hope that it is available for our fourth-quarter CBC presentation.

 From the BSA Exam Manual: “The cornerstone of a strong BSA/AML compliance program is the adoption and implementation of comprehensive CDD policies, procedures, and processes for all customers, particularly those that present a high risk for money laundering and terrorist financing. The objective of CDD procedures should be to enable the bank to predict with relative certainty the types of transactions in which a customer is likely to engage.”