The Financial Crimes Enforcement Network issued responses to three frequently asked questions regarding customer due diligence requirements for covered financial institutions.
August 04, 2020 / By ICBA
The Financial Crimes Enforcement Network issued responses to three frequently asked questions regarding customer due diligence requirements for covered financial institutions.
The FinCEN guide clarifies the regulatory requirements related to obtaining customer information, establishing a customer risk profile, and performing ongoing monitoring of customer relationships.
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