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FinCEN Updates: Frequently Asked Questions Regarding Customer Due Diligence Requirements

April 04, 2018 / Source: FinCEN

Frequently Asked Questions Regarding Customer Due Diligence Requirements for Financial Institutions

The Financial Crimes Enforcement Network (FinCEN) is issuing Frequently Asked Questions to assist covered financial institutions in understanding the scope of the Customer Due Diligence Requirements for Financial Institutions, (the CDD Rule) published on May 11, 2016.   Previously, on July 19, 2016, FinCEN published FAQs, available at https://www.fincen.gov/resources/statutes-regulations/guidance/frequently-asked-questions-regarding-customer-due-diligence.  FinCEN may issue additional FAQs, guidance, or grant exceptive relief as appropriate. 

FAQs: https://www.fincen.gov/resources/statutes-regulations/guidance/frequently-asked-questions-regarding-customer-due-0