High-Risk Consumer and Business Clients: BSA / AML – ON-DEMAND WEBINARS


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SKU: SWHCC Category:

Recorded: July 29, 2021

Presented by: Mr. Mark Dever, VP and Senior Consultant, FORVIS

A two-hour webinar to update members of the compliance community on the current federal list of high-risk consumer and business clients.The third element of Customer Due Diligence (CDD) requires financial institutions to “understand the nature and purpose of customer/member relationships for the purpose of developing a “customer risk profile”. Developing a risk profile by understanding the types of transactions in which customer/member would normally be expected to engage in forms the baseline against which aberrant suspicious transactions are identified. Aside from the new account desk and the initial profiling questions posed, the next best place to identify high-risk clients is by understanding the federal list of such. This webinar will review the current federal list of high-risk consumer and business customers/members for inclusion into the “mandated” client risk profiles.

Here’s What You’ll Learn:

  • Identify the federal list of high-risk consumers;
  • Discuss the federal list of high-risk businesses;
  • Highlight peer attendee feedback for “other” clients garnering a high-risk rating;
  • Review FinCEN Guidance on both domestic politically exposed persons (PEPs) and charities; and
  • Allow questions from participants.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from FORVIS will provide the compliance and sales staffs with a current “snapshot” of the federally defined high-risk consumer and business clients that could be factored into the institution’s CDD program where applicable.

Who Should Listen

This webinar will be of most value to members of the compliance and sales communities, and it will also assist them in meeting their annual BSA training requirements. The webinar will also be helpful to senior audit managers and members of the audit team responsible for performing the independent testing for compliance with the BSA.

​Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of AML/BSA Rules

Field of Study: Specialized Knowledge

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Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.

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