With FinCEN releasing proposed implementing regulations for its eight National Priorities, covered financial institutions (FIs) must review their AML/CFT programs to ensure they meet the “effective and reasonably designed” regulatory expectation.
This means that some FIs will need to adjust oversight protocols. Significantly, the proposed rules will also make risk assessments legally mandatory.
What can you do to prepare?
Join us at this panel hosted by Fenergo in partnership with ACAMS to watch a discussion on what FIs need to do to prepare for this change.
Learning objectives of this session:
- Analyzing the key impacts of implementation on risk assessment processes to ensure alignment with FinCEN Priorities and detect and correct systemic deficiencies as needed
- Reviewing priorities individually to assess risks such as business lines, client profiles and geographic footprint and provide resources for effective and reasonably designed AML models
- Evaluating opportunities to utilize technologies to support ongoing client lifecycle management and support compliance with National Priorities’ directives.