Customer Due Diligence and Know Your Customer Fundamentals

• 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

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.

Who this course is for:

• 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