Events Calendar

Webinar: Opening Business Accounts: Entities, Documentation, Authority & Regulatory Requirements
Wednesday, August 19, 2020, 03:00pm - 04:30pm

Business accounts require additional due diligence and documentation. Do you know what’s required for each business type? Increasing your knowledge and efficiency will benefit both accountholders and your institution.


  • Differentiate between the types of legal entities and the appropriate documentation for each
  • Identify the documentation needed from various companies and signers to properly establish a business account
  • Determine which parties must provide beneficial ownership information
  • Distinguish which regulations do and don’t apply to business accounts
  • Recognize red flags for business identity theft and money laundering red flags
  • Understand the importance of due diligence


This webinar will provide the tools needed to properly establish accounts for businesses and organizations. Business accounts generally have higher balances than consumer accounts. Therefore, improper set-up or management may bring higher risks, including fraudulent transactions, unauthorized parties or account opening, money laundering, and other financial crimes.

Beyond required documentation for each business type, this webinar will address your financial institution’s responsibilities and liabilities in handling everyday transactions, such as checking account rules, requirements for secure online banking access, origination of checks and ACH authorizations, and deposits of remotely created checks. In addition, Bank Secrecy Act compliance requires more due diligence than typical consumer accounts.


This informative session is designed for new account representatives, branch managers and assistants, anyone responsible for onboarding business accounts, staff who handle business account transactions and inquiries, compliance staff, and audit personnel.


  • Due diligence model checklist
  • BSA red flags
  • Identity theft red flags
  • Business documentation checklist
  • Employee training log
  • Interactive quiz

SPEAKER:  Mary-Lou Heighes, Compliance Plus, Inc.

Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.

Involved with financial institutions since 1989, Mary-Lou has over 25 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.