Expectations of Your CDD

Answered by:

Question:

Official stated purpose aside, what’s the bottom line on the expectations following full implementation of the new CDD rule?

Answer:

FinCEN believes banks will have greater information as to what constitutes “normal” customer activity and that in addition to a greater number of SARs, the narrative information provided on SARs will provide greater detail.
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Learn more about Don Blaine’s webinar
Why Did CDD Deserve to be the 5th Pillar Rather Than CIP?