9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Business accounts require additional due diligence and documentation. Do you know what’s required for each business type? Increasing your knowledge and efficiency will benefit both accountholders and your institution.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Differentiate between the types of legal entities and the appropriate documentation for each
- Identify the documentation needed from various companies and signers to properly establish a business account
- Determine which parties must provide beneficial ownership information
- Distinguish which regulations do and don’t apply to business accounts
- Recognize red flags for business identity theft and money laundering red flags
- Understand the importance of due diligence
This webinar will provide the tools needed to properly establish accounts for businesses and organizations. Business accounts generally have higher balances than consumer accounts. Therefore, improper set-up or management may bring higher risks, including fraudulent transactions, unauthorized parties or account opening, money laundering, and other financial crimes.
Beyond required documentation for each business type, this webinar will address your financial institution’s responsibilities and liabilities in handling everyday transactions, such as checking account rules, requirements for secure online banking access, origination of checks and ACH authorizations, and deposits of remotely created checks. In addition, Bank Secrecy Act compliance requires more due diligence than typical consumer accounts.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is designed for new account representatives, branch managers and assistants, anyone responsible for onboarding business accounts, staff who handle business account transactions and inquiries, compliance staff, and audit personnel.
- Due diligence model checklist
- BSA red flags
- Identity theft red flags
- Business documentation checklist
- Employee training log
- Interactive quiz
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.