Beneficial Ownership Update: What to do next

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 webinar 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.

Attend the webinar to gain a clear understanding of the key updates to FinCEN’s Beneficial Ownership Information (BOI) reporting requirements, including who must report, the required information, and compliance deadlines.

Learn how these changes affect financial institutions, non-bank entities, and business customers governed by the Corporate Transparency Act (CTA). You’ll receive practical guidance on integrating these updates into your compliance programs and reporting systems.

The webinar will also focus on the penalties for non-compliance and provide best practices for managing beneficial ownership reporting moving forward.

• 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

Recent updates to FinCEN’s Beneficial Ownership Information (BOI) rules require swift action. Organizations should review new obligations, assess impacts under the Corporate Transparency Act (CTA), update compliance programs, train staff, and prepare for deadlines. Understanding penalties and adopting best practices is essential to ensure compliance and mitigate risks.