Beneficial Ownership Determination and Customer Due Diligence

Website https://goo.gl/uLZz8D | Edit Freely

Category beneficial ownership guideline, beneficial ownership structure

Deadline: February 08, 2018 | Date: February 08, 2018

Venue/Country: CO, U.S.A

Updated: 2018-01-12 14:19:53 (GMT+9)

Call For Papers - CFP

The rise of anonymous companies has frustrated the efforts of law enforcement and financial regulators to track down illicit financial flows and to prevent crime and corruption. In response, there has been a worldwide effort to increase transparency of ownership and controlling interests in legal entities. It is now incumbent as part of the due diligence process that a company, especially financial institutions, know who really owns or controls legal entities not in their own name. Substantial penalties can apply for violations of these new regulations.

WHY SHOULD YOU ATTEND

As the internet has resulted in an increasing speed at which funds can be transferred, it is now more than ever essential to know who is in real control or ownership of legal entities. Such information is a requisite towards assigning responsibility or legal liability for contractual matters, taxes, and for recourse in the event of illegalities.

Legislation has been pending or adopted in many jurisdictions mandating the verification of beneficial ownership as part of a business’s due diligence process. Failure to follow these requirements can result in drastic penalties to the offender.

The webinar will examine how a business’s due diligence process can identify and verify beneficial ownership and how a company can protect itself against regulatory and legal violations.

AREAS COVERED

• Due diligence

• Customer Identification/Know Your Customer

• Risk Management

• Methods and information resources to establish beneficial ownership

• Identifying key areas of risk

• Developing a sound beneficial ownership/due diligence policy

• Implementing the policy throughout the organization

• What happens when “something goes wrong”

• Verification and audit of beneficial ownership/due diligence policy and program

LEARNING OBJECTIVES

The course will expose the learner to the basic requirements of beneficial ownership as part of a customer due diligence program, the importance of a company complying with the law, and various steps a business can take to help it comply with these requirements.

WHO WILL BENEFIT

• Legal staff

• Upper management

• Financial and accounting staff

• Sales and contract managers

• Risk/Compliance Officers

For more detail please click on this below link:

https://goo.gl/uLZz8D

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