In May of 2016, the U.S. Department of the Treasury issued final rules under the Bank Secrecy Act (BSA) to clarify and strengthen customer due diligence (CDD) requirements, with an implementation of May, 2018. The new rules, referred to as Beneficial Ownership, now require financial institutions to establish and maintain written procedures to incorporate the identification of beneficial owners of legal entities within AML compliance programs. Join Wespay for an informative and in-depth look at the new Beneficial Ownership rules to ensure you are in compliance with the most recent regulatory guidelines.