Originally Presented: March 12, 2021
Efficient and effective management of customers in high-risk categories is the cornerstone of compliance, and a challenging necessity for financial institutions. With regulatory pressure increasing, robust identification, segmentation, stratification and surveillance of high-risk customers has never been more important. In this session recording from the 2021 Verafin Virtual Tour, technology experts and professionals from peer institutions discuss innovative approaches and best practices to improve due diligence for high-risk customer types, such as Cannabis-Related Businesses and Politically Exposed Persons, and explore the challenges institutions face in identifying and monitoring businesses exchanging virtual and crypto currencies.
Highlights from this special presentation include:
- Insights from technology experts and professionals from peer institutions
- An exploration of regulatory requirements and obligations related to CDD/EDD and managing high-risk customers
- Innovative approaches to improve due diligence for high-risk customer types, such as Cannabis-Related Businesses and Politically Exposed Persons
- An exploration of the challenges institutions face in identifying and monitoring businesses exchanging virtual and crypto currencies
- Best practices for effective high-risk customer management
Please note that accessing this recording of the Virtual Tour does not qualify for a certificate of attendance or industry accreditation; credits were approved for the registration and attendance of the live Virtual Tour event only.