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Upcoming League Events


TeleConference: Opening Deposit Accounts Online: Risk CIP & CDD Issues


Effective September 30 online registration will be temporarily unavailable while we upgrade our website. Beginning on Wednesday, October 1, to register for an event: Please complete the registration form and send to The League via:


Thursday, December 11, 2014

10:00 - 11:00 am (CST)


Speaker: John Porter


About the Program

When a new member comes to your credit union through the Internet instead of in person, your Bank Secrecy Act compliance risk escalates. You must  protect your credit union from money laundering and fraud by following OFAC, Customer Identification  Program (CIP), and Customer Due Diligence (CDD) rules, but you don’t want to turn off potential new members.


Attorney John Porter will give you the compliance guidelines for opening new online accounts. You’ll learn what should be included in your policies and procedures to minimize your risk without limiting new member convenience.


You’ll get the answers to these questions:

  • How do you create a compliance plan that minimizes new online account risks and maximizes new member convenience?
  • Should you really trust electronic copies of  identification?
  • Do the rules change for checking OFAC, CIP, & CDD when you open an account online?
  • Is an electronic copy of a signature card acceptable?
  • When should you make new deposit funds available?
  • When must you make them available?
  • When and how should you provide required disclosures?
  • How soon must you issue any requested checks or debit cards?

Related Files
Printable Brochure (Adobe PDF File)

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