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Beneficial Ownership

Course Description

This course explains the requirements of the final rule on beneficial ownership and related customer due diligence (CDD), a CDD Rule issued by FinCEN. The impact of the newly required beneficial ownership transparency and the need to obtain information from customers who were not required to provide such information in the past is major. The implementation of the various aspects of this rule affect multiple departments and lines of business. The new regulatory requirements mandate review of and revisions to Customer Identification Programs, OFAC procedures, CIP/CDD Risk Assessments, and BSA/AML policies.
30 Minutes
Series: Compliance Plus
Roles: Mortgage Professionals, Mortgage Closer, Mortgage Loan Originator, Mortgage Processor, Mortgage Underwriter
Course Format: Online Self-Paced
Package: Mortgage Advantage, Mortgage Complete, Mortgage Edge

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