Opening Deposit Accounts Online: Rules, Risks & Best Practices
On-Demand Webinar
StreamedAug 20, 2024Duration90 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Contactless account opening is becoming more popular – but it’s a different animal than opening deposit accounts in person.
It’s also more than just
establishing E-SIGN with the would-be accountholder. How do you firmly
establish “true identity”? What questions should be asked? What about the BSA
risk assessment process? Attend this program to improve your understanding of
the risks, rules, and best practices for opening deposit accounts online.
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Explain and implement the six-step consent process to open “no-contact” accounts
- Understand which deposit regulations are related to E-SIGN and have specific compliance provisions
- Use the most recent BSA guidance for satisfying the CIP due diligence requirements
- Define and identify acceptable documents to open accounts
- Incorporate risk mitigation strategies into the new account process
- Determine if enhanced due diligence steps are required to open the account
WEBINAR DETAILS
Opening deposit
accounts online is a different process than in person. Compliance with E-SIGN
requirements is one piece of the puzzle. Knowing the “true identity” of the
customer for BSA and CIP purposes completes it. What additional out-of-wallet
questions should be asked when accounts are opened online? How does electronic
account opening impact the BSA risk assessment process?
Attend this detailed
program to learn about the additional controls needed to protect your financial
institution and about red flags for reporting suspicious activity.
WHO SHOULD ATTEND?
This informative session
will help ensure compliance with e-banking and is targeted for compliance
officers, risk managers, deposit operations managers, business development
managers, and others responsible for managing online banking, E-SIGN
compliance, e-statements, and e-disclosures for deposit accounts.
TAKE-AWAY TOOLKIT
- Current exam procedures and many resources for online banking
- E-SIGN checklist and answers to common questions
- Social media policy template
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Compliance Training & Consulting for Financial Institutions
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC
