Throughout the past two years, our members have constantly sought strategy regarding the impending CDD Rule promulgated by the Treasury’s Financial Crimes Enforcement Network (FinCEN). ACAMS has provided webinars, articles and sessions at our many conferences on this challenging new requirement and soon to be fifth pillar of AML. We added a new vehicle for ACAMS members to address this regulation—a "forum" just for impacted financial institutions.
As a result, we are pleased to share with you “The Way Forward,” the final report from the June 19 forum on the implementation challenges associated with FinCEN’s CDD Rule. Our hope is that this tool can be utilized in the training and process planning discussions that invariably are being held as we go to print.
ACAMS convened the forum so that supervised institutions could gather to offer ideas and debate how best to address these new compliance and regulatory obligations. We hope that we have succeeded in capturing all of the essential points raised and in assisting the ACAMS membership in preparing for this 2018 requirement.