New Share Member Account Interview - CIP, CDD and Legal Issues

The New Member Interview is the frontline security against fraud, money laundering and illegal activity at your financial institution. You may also be the most outstanding salesperson at your institution. Today, it is not enough to just take the money and open the account. Who is it you are doing business with? We have many compliance tasks and due diligence requirements that must be met in the New Member Interview. This program builds the compliance tasks, worksheets and requirements that must be met when you open an account. It will help you gather and use pertinent information to help you "know your member". You won't want to miss this chance to become the new member expert at your financial institution.

What You Will Learn

  • Customer Identification Requirements : Who is exempt? Who is a customer?
  • Customer Due Diligence requirements: Gathering transaction data and using it
  • Risk rating your business customer-products, services and types of customers that cause concern
  • Unlawful internet gambling
  • Marijuana related businesses
  • New Issues for Money Service Businesses
  • Understanding beneficial ownership
  • The signature card, the resolution and the disclosures-types and requirements
  • Debit card disclosures
  • OFAC
  • Red flags for identity theft
  • Putting it all together in the interview and worksheet

Who Should Attend?

This webinar will benefit new member representatives, branch managers, branch operations, deposit compliance officers and anyone that works the frontline.