News

Okay maybe not all. But there are important issues raised by the Financial Crimes Enforcement Network's advance notice of proposed rulemaking (ANPRM) issued in late February. This Wednesday, Rick Small, ACAMS advisory board chairman and American Express Company vice president, and John Byrne, the executive vice president of ACAMS, will shed light on some of the issues surrounding the ANPRM. The proposal would extend customer due diligence regarding beneficial ownership now required for private banking and correspondent accounts to all accountholders at depository institutions. Beneficial ownership of accounts deemed high-risk at opening could have to be verified, although to what...