Banking compliance, modernized.

The manual expects a risk-based Customer Identification Program (CIP) at account opening, ongoing Customer Due Diligence (CDD) including beneficial-owner identification under FinCEN's CDD Rule, Enhanced Due Diligence (EDD) for higher-risk customers (foreign correspondents, PEPs, MSBs, private banking), continuous transaction monitoring and timely SAR filing. Examiners look for written policies, evidence of independent testing, board-level oversight and an auditable record per customer. Legal Talent persists every KYC artifact, screening hit and decision rationale to satisfy that paper trail.

FinCEN does not prescribe a fixed cadence; it requires CDD to be updated on a risk basis. In practice examiners expect annual refresh for high-risk customers, every two to three years for medium risk and event-driven refresh for low risk. Triggering events include sanctions list changes, adverse media, transaction-pattern anomalies, change of control or change of country. Legal Talent's perpetual KYC engine re-screens daily and surfaces only the customers whose risk profile actually moved.

EDD is the deeper customer-review layer applied when standard CDD does not adequately mitigate risk. The BSA mandates it for foreign correspondent banking, private banking accounts above one million dollars for non-US persons, foreign PEPs and customers in high-risk jurisdictions per FATF. EDD typically includes source-of-funds and source-of-wealth documentation, deeper UBO mapping, in-person or video verification and senior-management sign-off. Legal Talent's risk engine routes high-risk customers into the EDD workflow automatically.

Since 2018 the CDD Rule requires covered financial institutions to identify and verify every beneficial owner who holds 25 percent or more of a legal-entity customer, plus one control person. Under the Corporate Transparency Act, FinCEN now also operates a beneficial ownership reporting registry; banks are not required to query it for verification but should reconcile their records against it where access is granted. Legal Talent captures UBO data and supporting documentation at onboarding and refreshes it on event triggers.

Yes. We expose a versioned REST API plus webhooks for KYC sessions, screening results, SAR-ready exports and decision events; SDKs are available for Node, Python and Go. Banks typically wire us into the account-opening flow, the CRM and the AML case-management tool. We support SSO via OIDC, audit-log streaming to your SIEM and SOC 2 Type II controls. Implementation timelines for a mid-size bank are typically four to eight weeks.