FinCEN Final Rule Best Practice


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What's Inside?

FinCEN’s Final Customer Due Diligence (CDD) Rule (i.e. FinCEN Final Rule) has brought in comprehensive new developments into how Financial Institutions must collect, maintain and act upon beneficial ownership information and conduct customer due diligence. 

Covered financial institutions must not only know who their customers are and from where their sources of funds originate, they also need to develop an accurate risk profile based on a culmination of all available client data and documentation. To achieve this, an appropriate level of due diligence checks must be applied to all beneficiaries.

In this paper, you will learn:

  • How the FinCEN Final Rule affects beneficial ownership disclosure requirements
  • The 10 major implementation challenges banks can expect to encounter in the coming months
  • 8 best practice approaches to enable you to deliver an efficient, risk-based approach to meet the full remit of FinCEN’s final rule

About the Author

Laura has significant knowledge and experience in the areas of risk and compliance. Having worked with hedge, mutual and private equity products across multi-jurisdictional platforms, Laura has developed a strong competency in AML and regulatory compliance.