Customer Due Diligence and Know Your Customer Fundamentals

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

Created by: Governance Risk and Compliance GRC
Governance, Compliance, and Risk Management Courses

What Will I Learn?

• Learn Customer Due Diligence (CDD), Know Your Customer (KYC), Enhanced Due Diligence (EDD) Measures
• Learn Types of Customer Due Diligence (CDD) Simplified, Standard and Enhanced Due Diligences
• Learn Know Your Customer (KYC) Concepts, Purpose and Requirements
• Learn different Types of Customers, including High-Risk, Moderate Risk and Low Risk Customers
• Learn Money Laundering and Anti-Money Laundering Measures
• Examples of Money Laundering Activities - Business Scenario Cases
• Learn Electronic Know Your Customer (e-KYC) Process
• Learn e-KYC Frauds That Usually Occur in FIs and related Prevention Measures
• Learn e-KYC Capabilities for FIs
• Learn Financial Action Task Force (FATF) Recommendations - Customer Due Diligence (CDD)
• Learn Financial Action Task Force (FATF) Recommendations - Wire Transfers and CDD
• Learn Financial Action Task Force (FATF) Recommendations - Politically Exposed Persons (PEPs) with Case Example
• Learn Different Types of Screening including PEP Screening, Sanction Screening and Negative Media Screening
• Examples of PEP and Negative Media Screening
• Learn AML Requirements for High Risk Accounts - NGO NPO and Charity
• Learn about the CDD/KYC Governance Model and Structure with Monitoring Mechanism
• Learn Roles of Governance, Board and Management Level Compliance Committees and Compliance Function related to CDD/KYC Compliances
• Practical Scenarios including areas such as High-Risk Account Opening, PEP Discovery with Fraud, Fake Accounts, Investigation, and Taking Compliance Actions

Requirements

• There are no specific requirements to attend this course, however, knowledge of Compliance, including Anti-Money Laundering and Know Your Customer (AML/KYC) will help you.

Target audience

• Compliance Professionals, Compliance Officers, CCO, AML Analysts, Account Opening Officers, Money Laundering Reporting Officers (MLROs), Compliance Risk Managers, Transactions Investigators, Internal Auditors, Branch Managers, Operation Managers
• Chief Risk Officers (CROs), Risk Managers, Risk Analysts, Risk Officers
• Professionals working in Banks, Money Service Businesses (MSBs), Payment Gateways, Remittance Companies, DNFBPs,
• Professionals such as Accountants, Lawyers, Risk Managers