The recent updates to FinCEN's Beneficial Ownership Information (BOI) reporting requirements introduce significant changes for financial institutions and entities subject to the Corporate Transparency Act (CTA). This training provides a comprehensive breakdown of the new reporting obligations, how they affect your compliance framework, and the steps you need to take to meet these requirements. Whether you are a compliance officer, legal advisor, or business owner, understanding these changes is critical to avoid potential penalties and ensure your entity remains compliant.

• Overview of FinCEN’s updated Beneficial Ownership Information (BOI) requirements.
• Key provisions of the Corporate Transparency Act (CTA) and their impact on reporting entities.
• Who is required to report under the new rules and what information must be disclosed.
  
• How to update internal compliance programs and reporting systems to align with the new requirements.
• Deadlines for submitting BOI reports and what actions to take if your organization falls behind.
• Understanding penalties and enforcement actions for non-compliance.
• Best practices for managing and verifying beneficial ownership information.
• Tips for communicating these changes to your customers and stakeholders effectively.

• Overview of generative AI and its capabilities.
• Applications of generative AI in banking risk management.
• Enhancing compliance processes with AI-driven automation.
• Identifying and mitigating fraud using AI.
• Predictive modeling for future risk and compliance scenarios.
• Real-world case studies of AI in banking.
• Best practices for implementing generative AI in risk and compliance.

• Anyone in a mortgage function or works with this function.