Today — May 11th — is the go-live date for the Financial Crimes Enforcement Network (FinCEN)’s long-awaited implementation of the Customer Due Diligence Rule (CDD) or Beneficial Ownership Rule. Simply put, financial institutions must now identify and  verify beneficial ownership information on legal entity customers at the time of the account opening. The rule also requires financial institutions to … Continue reading Infographic: The Beneficial Ownership Rule is Here — Welcome to the “Fifth Pillar”