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EDD what are the auditors looking for? - Webinar

  • ID: 4544615
  • Webinar
  • June 2019
  • Region: Global
  • 90 Minutes
  • Compliance Online
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Why Should You Attend:

In the last four years we have seen some of the highest fines levied on financial institutions because they did not follow proper customer due diligence measures. Wachovia was fined $160 million dollars in 2010, HSBC was filed $1.9 billion in 2012 and The Reserve Bank of India penalized 22 banks for violating Know-Your-Customer norms and Anti-Money Laundering guidelines in 2013. EDD is a relatively new concept and a hot topic for auditors and most institutions, especially smaller institutions, don’t really know what it entails.

This webinar will help by giving points as to what the auditors want in an EDD so you are not wasting your time and resources and still keeping the auditors happy. Also, by conducting proper EDD reviews your institution can confirm that all Customer Due Diligence (CDD) information is up to date as well as accurate and ensures that it is not being taken advantage of by individuals/entities that would try to exploit it for nefarious purposes.

Areas Covered in the Webinar:

What is an EDD
History of EDDs
Who are EDDs conducted on
EDD time tables
What type of information should be included in an EDD
Personal accounts vs. Business accounts
EDD checklist
What are the consequences if you fail an audit
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Vicki Landon, CAMS-Audit, CFCS, FLMI and a Principal of Landon Associates, Inc., provides anti-money laundering, sanctions, and anti-fraud services to financial institutions. She brings extensive experience in BSA/AML and sanctions risk assessment, independent AML audit, vendor assessment, and implantation / tuning of transaction monitoring systems. She frequently teaches and presents sessions on AML, sanctions and anti-fraud topics via webinars, seminars, and industry conferences, and has been published by the Association of Certified Anti-Money Laundering Specialists (ACAMS). Her 25+ years’ experience in financial services also includes record management systems, data management, and business process management, enabling her to address the full scope of a company’s AML needs. She co-founded and is an Executive Director of the Central Texas Chapter of ACAMS.
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