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.