Training Doyens

OVERVIEW In recent years the increased use of electronic means to obtain customer signatures, to conduct verifications of customer information, and to conduct overall customer due diligence has posed problems for financial institutions to fully comply with KYC, CDD/EDD requirements .  This webinar will discuss methods of using electronic means for these activities and will discuss up-to-date guidance provided by FinCEN and financial regulators in the use of electronic platforms for these processes.  As electronic technology increases in the financial sector, staff and employees of financial institutions must be aware of the methods of electronic information gathering, and the risks associated with this type of information gathering. WHY SHOULD YOU ATTEND Financial institutions need to be aware of the latest trends in emerging technology related to electronic information gathering. This presentation will allow attendees to obtain background information of how this ne...

OVERVIEW The changes in reporting requirements for Form 1099-MISC can be confusing and the IRS has recently made changes to reporting, error correction, and filing due date requirements. Our upcoming webinar discusses the latest updates including the specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines. The webinar covers the following key areas: ·          Changes to filing deadlines and affected returns, de minimis exception for money errors, and increases in penalties for non-compliance  ·          Identification of reportable payments and payees, and common 1099 errors — how to prevent them and how to correct them ·          TIN verification, backup withholding, and penalties and problems  LEARNING OBJECTIVES Know when to furnish and fi...

OVERVIEW This is a lengthy course in  AML (Anti-Money Laundering)  starting with T he Bank Secrecy Act requirements   and going into each of the basic requirements as well as the newest requirements of customer due diligence (CDD). We will cover things which are high-risk of AML and require additional actions due to that. The topic will be covered in considerable breadth and depth. We will start with an overview of the   Bank Secrecy act and USA PatriotAct   requirements. This includes cash transaction reporting, suspicious activity reporting, Know Your Customer requirements and the new Customer Due Diligence requirements. customer due diligence We will discuss where and how banks have had difficulty and been penalized for compliance failures and what are the strategies and techniques for avoiding common and serious mistakes. We will discuss current issues of interest among banks related to  BSA/AML program . We will share our current und...

OVERVIEW Accounts payable professionals, managers, and withholding agents need to be aware of the changes in Form 1099-MISC in order to avoid non-compliance and penalties. Patrick discusses specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines with latest updates. The webinar provides a clear and deep understanding about: ·          Changes to filing deadlines and affected returns ·          Common 1099 errors – how to prevent them and how to correct them ·          Using the IRS TIN verification system LEARNING OBJECTIVES Know when to furnish and file information returns under the new requirements Understand the de minimus error rules Identify reportable payments and payees. Know when a 1099 is required Be aware of common 1099 errors: Know how t...

OVERVIEW The rise of anonymous companies has frustrated the efforts of law enforcement and f inancial regulators to track down illicit financial flowsand to prevent crime and corruption.   In response, there has been a worldwide effort to increase transparency of ownership and controlling interests in legal entities.  It is now incumbent as part of the due diligence process that a company, especially financial institutions, know who really owns or controls legal entities not in their own name.  Substantial penalties can apply for violations of these new regulations. WHY SHOULD YOU ATTEND As the internet has resulted in an increasing speed at which funds can be transferred, it is now more than ever essential to know who is in real control or ownership of legal entities. Such information is a requisite towards assigning responsibility or legal liability for contractual matters, taxes, and for recourse in the event of illegalities. Legislation has been pending or a...