Emerging Technology related to E-Signature, E-CDD, and E-Disclosures

Banks increasingly use electronic tools to collect signatures, verify customer information and carry out due diligence. This 60-minute webinar on e-signature, e-CDD and e-disclosure technology explains how these trends affect KYC and CDD/EDD information gathering and verification.

You'll review FinCEN regulations and guidance, FFIEC and other regulatory expectations, and exactly what counts as an e-signature, e-verification and e-CDD/EDD. The session covers common mistakes, the internal controls needed to meet AML/CFT laws, and what to add to KYC and CDD/EDD policies, procedures and practices.

It also looks at industry standards, enforcement actions against weak programs and issues expected in the future.

• Summarize FinCEN and regulatory guidance on electronic information gathering
• Define e-signature, e-verification and e-CDD/EDD
• Avoid common mistakes institutions make with electronic information gathering
• Set internal controls that keep electronic processes compliant with AML/CFT laws
• Update KYC and CDD/EDD policies, procedures and practices
• Meet regulatory expectations for electronic information gathering

• FinCEN regulations and guidance on electronic information gathering
• FFIEC and other regulatory requirements and guidance
• What belongs in electronic information gathering policies, procedures and practices
• Current industry standards and business norms
• Recent enforcement actions related to weak programs and practices
• Possible future issues in electronic information gathering

Electronic signatures, verification and due diligence have made it harder for financial institutions to fully meet KYC and CDD/EDD requirements. Staff need to understand the methods, the risks and how quickly the technology changes.

This training suits banks and money services businesses, including frontline BSA/AML and account opening staff, BSA/AML and compliance officers, risk managers, auditors, broker-dealers, consultants and SAR decision makers.

Banks and Money Service Businesses will benefit from this training. The following titles should attend:

• Front line BSA/AML staff
• Account opening staff
• Risk managers
• BSA/AML Officers
• Compliance Officers
• BSA/AML Audit staff
• Broker/Dealers
• Auditors
• BSA/AML Consultants
• 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.