Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The four essential pillars of a broker-dealer's Anti-Money Laundering (AML) program. - The four key pieces of information required under the Customer Identification Program (CIP) to open a new account. - How to identify beneficial owners of a legal entity, including the 25% ownership threshold and the control prong. - Key red flags for suspicious activity, such as structuring transactions to avoid reporting thresholds. - The requirements for filing a Suspicious Activity Report (SAR) with FinCEN, including the $5,000 threshold and the strict confidentiality rule against 'tipping off' a customer. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep