Requirements for Understanding Customer Risks

Financial Crimes Enforcement Network (FinCEN) requires banks, brokers or dealers in securities, mutual funds, and futures commodities to:

  • Identify and verify the identity of customers and their beneficial owners at the time a new account is opened.
  • Understand the nature and purpose of customer relationships
  • Conduct ongoing monitoring

 

Compliance Made Easy

Opus has solutions to address these requirements:

  1. Reference Data facilitates the cross-referencing and mapping of entity data to help verify the identity of customers and beneficial owners. Learn more
  2. Alacra Compliance Enterprise facilitates customer investigations so banks, brokers and dealers understand customer relationships. Learn more
  3. Alacra Surveillance provides the risk-based approach to monitoring money laundering and terrorism financing FinCEN requires. Learn more