Customer Due Diligence AML Controls and Procedures
What you’ll learn
Understand what AML – Customer Due Diligence is? Also the different types of AML due diligence
Pros and Cons of not observing due diligence in your organisation
Know the best standards for formulating excellent KYC/CDD strategies
How to design a standard KYC/CDD Policy for your business
Steps needed to take for Customer Due diligence according to FATF recommendations
Learn about enhanced due diligence (EDD), when it is used and how to de-risk your client
Learn how to identify risk, risk profile customers, transactions and regions according to AML principles….
Bonus – Audio on AML Risk
Requirements
You should have a basic understanding of customer identification and acceptance
Legal basis for identifying and verifying customers
You should have basic AML Knowledge
Description
This is a three topic course compressed into a three-part module course plus one making it four (4) courses. These will extensively address the followingWhat KYC is, as defined extensively Why KYC is necessary, why financial institutions like banks, insurance companies and others are easy AML targets Learn the importance of KYC as advised by local and international standard setters What KYC aims to achieve. Why financial institutions must go beyond just identifying their customers to familiarising themselves. Why this is necessary. Learn also about the KYC guideUnder CDD, we will define CDD, and draw a line between KYC and CDD. We will also explain why CDD is Importance and what best standards are availableEnhanced Due Diligence (EDD) – what is it all about and when is it applied, how do you de-escalate enhanced risk etcLearn about record keeping and its relevance to CDD/EDD processes. What financial records are expected to be kept etcWe will examine the essentials of a proper KYC/CDD strategy and why we need to have a good strategy in placeAnd lastly, we will examine AML risks in details – Region, Product, Customer Transaction.
Overview
Section 1: Course Overview – Video
Lecture 1 Overview
Section 2: KYC – Know Your Customer
Lecture 2 KYC-Know Your Customer
Lecture 3 Article- Understanding KYC
Section 3: CDD – Customer Due Diligence
Lecture 4 CDD -Customer Due Diligence
Lecture 5 CDD Additional Resource
Section 4: EDD – Enhanced Due Diligence
Lecture 6 EDD – Enhanced Due Diligence
Section 5: AML Risk
Lecture 7 What is AML Risk
Anyone in customer relations, operations, management, compliance, front office staff, bank tellers, Human Resource,Students, financial institution interns, new hires,Criminal Law students, Fraud analysts
Course Information:
Udemy | English | 0h 58m | 132.99 MB
Created by: g-Log Consult
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