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

Electronic customer signatures, verification and due diligence have made full compliance with KYC and CDD/EDD requirements harder for many financial institutions. This 60-minute webinar on e-signatures, e-verification and e-CDD explains how to use these electronic methods and what FinCEN and other regulators have said about them.

You'll define each term, review FinCEN, FFIEC and other requirements, and look at common mistakes, AML/CFT internal controls and what to add to KYC and CDD/EDD policies, procedures and practices.

The session also covers industry standards and business norms, enforcement actions involving weak programs, and issues likely to come up in the future.

• Outline FinCEN and regulatory requirements for electronic information gathering
• Define what counts as an e-signature, e-verification and e-CDD/EDD
• Recognize common mistakes institutions make with electronic processes
• Put internal controls in place to meet AML/CFT laws and regulations
• Add needed elements to KYC and CDD/EDD policies, procedures and practices
• Meet regulatory expectations for electronic information gathering

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

As electronic technology spreads through the financial sector, staff need to understand how it works, how fast it changes and the risks it brings to customer information gathering and verification.

This session suits frontline BSA/AML, account opening and customer service staff, BSA/AML and compliance officers, audit staff, investigators and SAR decision-makers, and risk managers.

• 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

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.