A key concern and significant risk for financial institutions remain the possibility of unknowingly becoming complicit in money laundering actions, where illegitimate money is moved into legitimate institutions. In order to mitigate such risk, FIs have strengthened their internal control systems by increasingly making use of Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements, as part of their anti-money laundering (AML) strategies.

About the Course

KYC/CDD is a critical element for effectively managing the risks posed by potential clients (thus protecting the organization against criminals, terrorists, and Politically Exposed Persons (PEPs) who might present a higher risk) and possible dubious actions by existing customers that need to be regularly reassessed.

This course provides essential knowledge for KYC and CDD procedures which are key tools in assessing customer risk and a legal requirement to comply with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) laws. Effective KYC/CDD involves knowing a customer’s identity and their financial activities, ongoing monitoring of business activities, and identifying and mitigating the AML/CFT risk a business relationship may pose on the regulated entity.

Topics covered

• An introduction to KYC/Customer Due Diligence (CDD)

• The value of Customer Due Diligence (CDD)

• CDD: Establishing and maintaining a strong CDD programme

Target Audience

This module is addressed to all individuals who practice Anti-Money Laundering such as Compliance/AML Managers in Banks, Investment Firms, Investment Funds, Trust Service Corporate Providers and Lawyers.

Format

• Register at any time for this online course
• Study in your own time and at your own pace (you have up to 3 months to complete)
• Assessed by online multiple-choice questions

Accreditation and CPD Recognition

This programme has been developed by the European Institute of Management and Finance (EIMF), an EU recognised training institution.

The syllabus is verified by external subject matter experts and may be accredited by financial regulators such as CySEC and the FCA, and general financial training accreditation bodies, such as CISI and ACAMS, for 5 CPD Units.

Registration and Access

To register for this course, click on the Get this course button to pay online. If you wish to receive an invoice instead of paying online, please Contact us here.