Emerging Technology Related To E-Signatures, E-Verification, And E-Cdd

By: Thomas Nollner

Recorded Session

Duration
60 Minutes

Training Level
Intermediate to Advanced

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Transcript

($179) - Transcript (PDF Transcript of the Training)

Recorded Session

($239) - Downloadable Session

USB

($350) - USB

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Webinar Details

In recent years the increased use of electronic means to obtain customer signatures, to conduct verifications of customer information, and to conduct overall customer due diligence has posed problems for financial institutions to fully comply with KYC, CDD/EDD requirements. This webinar will discuss methods of using electronic means for these activities and will discuss up-to-date guidance provided by FinCEN and financial regulators in the use of electronic platforms for these processes. As electronic technology increases in the financial sector, staff and employees of financial institutions must be aware of the methods of electronic information gathering, and the risks associated with this type of information gathering.

WHY SHOULD YOU ATTEND?

Financial institutions need to be aware of the latest trends in emerging technology related to electronic information gathering. This presentation will allow attendees to obtain background information of how this new technology affects KYC and CDD/EDD information gathering and verification, it will explain to attendees how this new technology is constantly changing, and the presentation will provide attendees with the latest guidance and information from financial regulators and FinCEN.

AREA COVERED

FinCEN regulations and guidelines related to electronic information gathering
FFIEC and other regulatory requirements and guidance
Items to include in your electronic information gathering policies, procedures, and practices
Current industry standards and business norms related to electronic information gathering
Recent enforcement actions related to weak programs and practices
Proposed future issues related to electronic information gathering

LEARNING OBJECTIVES

An overview of FinCEN and regulatory requirements and guidance related to electronic information gathering
Defining exactly what constitutes an E-Signature, and E-Verification, and E-CDD/EDD
Common mistake financial institutions make related to electronic information gathering
Internal controls needed to ensure that electronic information gathering complies with AML/CFT laws and regulations
Needed additions to KYC and CDD/EDD policies, procedures, and practices to improve current bank guidance
Regulatory expectations for compliance with electronic information gathering

WHO WILL BENEFIT?

Front line BSA/AML staff
Account opening/customer service staff
BSA/AML officers
Compliance officers
BSA/AML audit staff
Suspicious activity information review staff, investigators, and SAR
Decision-makers
Risk managers

FinCEN regulations and guidelines related to electronic information gathering
FFIEC and other regulatory requirements and guidance
Items to include in your electronic information gathering policies, procedures, and practices
Current industry standards and business norms related to electronic information gathering
Recent enforcement actions related to weak programs and practices
Proposed future issues related to electronic information gathering

An overview of FinCEN and regulatory requirements and guidance related to electronic information gathering
Defining exactly what constitutes an E-Signature, and E-Verification, and E-CDD/EDD
Common mistake financial institutions make related to electronic information gathering
Internal controls needed to ensure that electronic information gathering complies with AML/CFT laws and regulations
Needed additions to KYC and CDD/EDD policies, procedures, and practices to improve current bank guidance
Regulatory expectations for compliance with electronic information gathering

Front line BSA/AML staff
Account opening/customer service staff
BSA/AML officers
Compliance officers
BSA/AML audit staff
Suspicious activity information review staff, investigators, and SAR
Decision-makers
Risk managers

SPEAKER PROFILE

Thomas E Nollner has more than 35 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. As a safety and soundness examiner he examined national banks for capital adequacy, asset quality, management issues, earnings concerns, and liquidity funding. As a compliance examiner, he examined national banks for compliance with consumer laws and regulations such as the Truth-in-Lending Act, the Real Estate Settlement Procedures Act, the Flood Disaster Protection Act, the Community Reinvestment Act, and AML/CFT laws and regulations. His specialty was as an AML/CFT examiner, where he analyzed a bank’s AML/CFT program to ensure that it complied with applicable banking laws, rules, and regulations; he reviewed the bank’s suspicious transactions identification, monitoring, and reporting process; he traced proceeds and transactions through several layers of activity; and, he reviewed a bank’s processes and procedures to determine root causes of AML/CFT program weaknesses. Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the U.S. Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, he worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.