CAMLI Video Archive - Risk-Aware Onboarding: Managing High-Risk Entities with Confidence
CAMLI video archive
Onboarding high-risk clients and establishing high-risk relationships requires enhanced due diligence and ongoing monitoring, as mandated by FINTRAC. This involves taking additional precautions to fully understand the risks to which your business may be exposed.
- Running time
- 1:06:33
- Cost
- $250 + applicable tax
CAMLI members receive a savings of $25 on the above pricing.
About this session
To help navigate this complex area of compliance, Shellyna Lipic, a seasoned Compliance Leader with nearly a decade of industry experience, walks participants through the key components of the high-risk client onboarding process. This includes how to conduct enhanced due diligence (EDD), meet ongoing monitoring obligations, and update internal compliance programs to reflect these elevated standards.
Key takeaways
- Identifying Risk Factors: Learn how to assess clients for indicators of elevated money laundering or terrorist financing risk.
- Enhanced Client Identification: Understand what additional information and verification steps are required for high-risk clients.
- Enhanced Ongoing Monitoring: Explore how to maintain heightened scrutiny over transactions and client behavior over time.
- Updating Your Compliance Program: Ensure your policies, procedures, and controls meet FINTRAC’s expectations for high-risk scenarios.
- Documentation of Best Practices: Learn how to properly document your EDD efforts and monitoring activities to satisfy regulatory requirements.
This session is essential for compliance professionals, onboarding teams, and business leaders who are responsible for managing financial crime risk. Stay ahead of compliance obligations and protect your organization from reputational and regulatory risk by strengthening your onboarding and monitoring practices.
Presenter
Shellyna Lipic
Canada ICI
Winnipeg, MB