We’ve received several requests to develop a sample letter that can be sent to Legal Entity customers, to inform them about the new Beneficial Owner requirements (mandatory by May 11, 2018). While there is no requirement to notify your customers, it may be helpful to identify which of your legal entity customers will be impacted by the new requirements and give them a “heads-up” as to what information they will be required to provide EACH time they open a new account. This way your customers will be prepared and you will be able to continue providing exceptional service!
Our sample letter is available on our website in our free BSA tools. We hope this gives you a place to start and feel free to tailor it to fit your needs.
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!