Summary

This course focuses on the Know Your Customer (KYC) process, an essential component of financial compliance and risk management. Participants will explore KYC frameworks, regulatory requirements, and methods to identify high-risk customers. Practical scenarios demonstrate how effective KYC can prevent fraud, money laundering, and other financial crimes.

This course is one of several courses within both the Certificate in Anti-Money Laundering and the Certificate in Know Your Customer. If you wish to achieve either of these awards, you must complete this course along with all other mandatory courses in the associated learning plans.

Audience

Course Objectives

• Understand the concept and importance of KYC in financial services.
• Identify the key components of a KYC process.
• Recognise the regulatory frameworks and obligations for KYC.
• Implement best practices for conducting effective KYC.
• Apply a risk-based approach and ongoing customer monitoring.

Course Structure

• Section 1: Introduction to Know Your Customer (KYC)
• Section 2: Why KYC is Important in the Finance Industry
• Section 3: Key Components of a KYC Process
• Section 4: Regulatory Requirements for KYC
• Section 5: Risk-Based Approach and Customer Due Diligence (CDD)
• Section 6: Ongoing Monitoring and Enhanced Due Diligence (EDD)
• Section 7: Best Practices for KYC
• Section 8: Case Studies
• Knowledge Evaluation

Duration & CPD Hours

This course should take you between 45 and 90 minutes, depending upon your pace of learning. Additionally, this course is accredited by The CPD Certification Service and carries 1.5 CPD hours.