Opening Foreign Business Accounts—CIP, CDD and Risk

Is your customer a business from the UK? China? Mexico? What do you need to open the account? The world is getting small and the risk is getting greater. How do you “know” your foreign customer? Practical suggestions for a ever expanding customer base.

During this program we will take a look at the international business scene. Some businesses are operating in the US and may register with the Secretary of State and some just have bank accounts. Learn how to distinguish between those who file at SOS and those who don’t. What paperwork you can require and what you can’t. Look at the high risk of shell companies and flow through funds from overseas trust and businesses.

The "Opening Foreign Business Accounts—CIP, CDD and Risk " webinar has been approved for 2 CAMs credits. Credits are redeemable for Live attendance only. Accreditation is valid for one year from the date of the event. To receive a certificate, email info@ttsTrain.com.

Covered Topics

  • Understanding how to open foreign business accounts
  • What paperwork do you need?
  • What is Customer Identification Program requirements?
  • What are beneficial ownership requirements?
  • How to complete the W-8BENE
  • Documenting and opening businesses from foreign countries
  • Look at some specific countries—Mexico, China, Canada and More

Who Should Attend?

Personal Bankers, New Accounts, Universal Bankers, Audit & Internal Controls, Bank Secrecy Act and AML, Compliance, Compliance Management and Auditing, Deposit Operations, eCompliance, New Accounts, OFAC, Operations, Operations Compliance, Risk Management, Security, Technology.