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Implementing the new CDD Rule

Question: 
How far along should we be in the process of implementing the new CDD rule?
Answer: 

It depends a lot on the size and complexity of your institution, but things that should have already been done include, giving your board a “heads up” about what’s coming, identifying the members of your implementation team, reaching out to your data processor to see if they can offer some help, and establishing a realistic deadline for full implementation prior to the mandatory compliance date.

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Learn more about Ken Golliher's webinar Annual BSA/AML Roundup

First published on 01/22/2017

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