Customer Due Diligence and Know Your Customer Fundamentals

Customer Due Diligence and Know Your Customer Fundamentals 📚

Learn CDD/KYC Regulatory Requirements, CDD/KYC Governance Model, Committees, Functions, Examples and Practical Scenarios

This "Customer Due Diligence (CDD) and Know Your Customer (KYC)" course is a comprehensive course, that will take you from the basic to the advanced level understanding of CDD, EDD, and KYC measures and practices, being implemented in institutions.

This course covers essentials of CDD/KYC, including concepts of robust CDD/KYC measures, types of due diligence measures, types of screenings, types of customers, ultimate beneficial owners (UBOs), manual and digital KYC processes, KYC information requirements, negative media, FATF Recommendations (CDD, Wire Transfers, PEPs), High-Risk Accounts and CDD/KYC, Proscribed Persons and Designated Persons, Sanctions, CDD/KYC Governance Model, Board and Management Compliance Committees Models, Committees Roles, Compliance Function and Its Roles related to AML/CDD/KYC, etc.

Practical Case Scenarios are also covered in this course in addition to various CDD/KYC and ML examples.

Topics Covered in the Course:

• Customer Due Diligence (CDD), Its Purpose and Requirements • Enhanced Due Diligence (EDD) Measures • Types of Customer Due Diligence - Simplified, Standard, and Enhanced Due Diligences • Customer Due Diligence - Risk Identification, Risk Statement and Control Mapping • High-Risk Customers and Accounts • Politically Exposed Persons (PEPs) • NGO, NPO and Charity Accounts (CDD/KYC) • Know Your Customer (KYC), Its Purpose and Capabilities • Electronic Know Your Customer (e-KYC), Purpose and its Capabilities • e-KYC Frauds and Prevention Measures for FIs • Adverse Media, Uses, Sources and Its Importance in CDD/KYC Compliance • Types of Screenings and Examples - PEP, Sanction, and Negative Media • Money Laundering, Its Purpose and Aims • Examples of Money Laundering Activities (Illegal Business Cases) • Anti-Money Laundering (AML) • Important AML Compliance Sources for Regulatory Requirements and Risks Extraction • Purpose of AML Compliance Sources • Knowledge Test - Compliance Sources • FATF Recommendations on Customer Due Diligence (Overview) • FATF Recommendations - When to Perform Customer Due Diligence (Overview) • FATF Recommendation - Wire Transfers - Requirements (Overview) • FATF Recommendations on Politically Exposed Persons (PEPs) (Overview) • Example of PEP Account Opening Case • Targeted Financial Sanction Requirements for FIs (PPs and DPs) • KYC Governance Model and Hierarchy in an Institution • Roles of Key Stakeholders in CDD/KYC Compliance - Board, Compliance Committees, and Functions • CDD/KYC Practical Case Scenarios • Different Practical AML/KYC Scenarios: • Scenario 1: High-Risk Customer PEP Investigation Case - CDD/KYC and EDD Measures • Scenario 2: Discovery of Fake Accounts, Compliance Investigations, and Action Steps

What are the Key benefits of Attending This Course:

• CDD/KYC comprehensive knowledge • Understanding CDD/KYC aspects through practical examples and scenarios • Ability to appear in an interview for AML/KYC Compliance, Risk Management, and Audit Jobs • Course Completion Certificate

Who Should Attend This Course?:

This course is suitable for Compliance Professionals, including Chief Compliance Officers (CCOs), AML Analysts, Money Laundering Reporting Officers (MLRO), Deputy Money Laundering Reporting Officers, Compliance Risk Managers, AML Compliance Risk Assessment Professionals, Compliance Consultants, Branch Managers, Operation Managers, Customer Onboarding Officer and Managers, Business Heads working in FIs, Internal Auditors, and students of Compliance such as CAMS.