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"Due Diligence: Know Your Customer" Rules: Financial institutions and professionals are required to obtain complete due diligence on individuals or companies in order to "know the customer" or "know the client." This is required under the USA Patriot Act and the Financial Action Task Force, as well as the "Best Practices" requirements of the Real Property, Probate and Trust Law Section of the American Bar Association and Circular 230. Under these laws and regulations, "due diligence" includes knowing the source of funds.
Does your bank have
- foreign operations?
- foreign investments?
- customers who need asset protection?
Duke Law Firm can represent your bank in due diligence and compliance. Our firm can also assist your bank in establishing an affiliate foreign trust company or an affiliate bank outside the U.S. while your bank's private banking department can manage the investments.
Contact us today to discuss how Duke Law Firm can decrease your compliance exposure and increase your service offerings to your U.S. customers.
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