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Expectations of Your CDD

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?

First published on 07/02/2017

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