Customer Due Diligence And Know Your Customer Fundamentals

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

What you'll 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.

Description

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 RequirementsEnhanced Due Diligence (EDD) MeasuresTypes of Customer Due Diligence - Simplified, Standard, and Enhanced Due DiligencesCustomer Due Diligence - Risk Identification, Risk Statement and Control Mapping High-Risk Customers and AccountsPolitically Exposed Persons (PEPs)NGO, NPO and Charity Accounts (CDD/KYC)Know Your Customer (KYC), Its Purpose and CapabilitiesElectronic Know Your Customer (e-KYC), Purpose and its Capabilitiese-KYC Frauds and Prevention Measures for FIsAdverse Media, Uses, Sources and Its Importance in CDD/KYC ComplianceTypes of Screenings and Examples - PEP, Sanction, and Negative MediaMoney Laundering, Its Purpose and AimsExamples of Money Laundering Activities (Illegal Business Cases)Anti-Money Laundering (AML)  Important AML Compliance Sources for Regulatory Requirements and Risks ExtractionPurpose of AML Compliance SourcesKnowledge Test - Compliance SourcesFATF 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 InstitutionRoles of Key Stakeholders in CDD/KYC Compliance - Board, Compliance Committees, and FunctionsCDD/KYC Practical Case ScenariosDifferent 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 knowledgeUnderstanding CDD/KYC aspects through practical examples and scenariosAbility to appear in an interview for AML/KYC Compliance, Risk Management, and Audit JobsCourse Completion CertificateWho 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.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Importance of Customer Due Diligence and Know Your Customer (CDD/KYC)

Lecture 2 Why CDD and KYC Measures are Required in Financial Institutions

Lecture 3 Topics Covered in this CDD and KYC Compliance Course

Lecture 4 The Importance of Customer Due Diligence and Know Your Customer (CDD/KYC)

Section 3: Customer Due Diligence (CDD)

Lecture 5 What is Customer Due Diligence (CDD)

Lecture 6 Customer Due Diligence (CDD) Process, CDD Requirements and CDD Aims

Lecture 7 Customer Due Diligence (CDD) of a Corporate Client

Lecture 8 CDD Information Requirements for Corporate Clients

Lecture 9 CDD and Monitoring of Transactions

Lecture 10 Example 1 - Normal CDD Case - Corporate Client

Lecture 11 Example 2 - Suspicious CDD Case - Corporate Client

Lecture 12 What Financial Institutions Should Do and Should Not Do - CDD?

Lecture 13 3 Types of Customer Due Diligence (Simple, Standard and Enhanced)

Lecture 14 Explanation of Enhanced Due Diligence (EDD) Measures

Section 4: 3 Major Types of Customers for Financial Institutions

Lecture 15 3 Major Types of Customers for Financial Institutions (Low. Moderate and High)

Lecture 16 Quiz - Types of Customers

Section 5: Adverse Media, Uses, Sources and Its Importance in CDD/KYC Compliance

Lecture 17 What Is Adverse Media, What are Its Sources, Uses and Importance in CDD/KYC

Section 6: Customer Due Diligence - Risk Identification and Control Mapping

Lecture 18 Customer Due Diligence - Risk Identification, Risk Statement and Control Mapping

Section 7: Know Your Customer (KYC)

Lecture 19 Understanding Know Your Customer (KYC)

Lecture 20 Purpose and Aims of Know Your Customer (KYC)

Lecture 21 Initial KYC Information Requirements

Lecture 22 Understanding Electronic Know Your Customer or eKYC

Lecture 23 Identification of Suspicious Person or Transaction at KYC Stage - What To Do?

Lecture 24 Capabilities of e-KYC Measures

Lecture 25 eKYC Frauds

Lecture 26 eKYC Fraud Prevention Measures for Institutions

Section 8: Types of Screening

Lecture 27 Politically Exposed Person (PEP) Screening

Lecture 28 Example PEP Screening

Lecture 29 Sanction Screening

Lecture 30 Negative Media Screening

Lecture 31 Example Negative Media Screening

Lecture 32 What Institutions Should Do -Targeted Sanction Designated Proscribed Persons

Lecture 33 Designated and Proscribed Persons - Screening and Other Requirements

Section 9: Money Laundering and Anti Money Laundering (AML)

Lecture 34 What is Money Laundering

Lecture 35 Purpose of Money Laundering

Lecture 36 Why Money Laundering Occurs

Lecture 37 Institutions Exposed to Financial Crime Risks including Money Laundering Risks

Lecture 38 Example 1 - Money Laundering Activity

Lecture 39 Example 2 - Money Laundering Activity (Business Case)

Lecture 40 Example 3 - Money Laundering Activity - Restaurant Chain Business

Lecture 41 What is Anti-Money Laundering (AML)

Lecture 42 Purpose of Anti-Money Laundering (AML)

Section 10: Internal and External AML, CDD and KYC Compliance Sources

Lecture 43 List of Internal and External AML, CDD and KYC Compliance Sources

Lecture 44 Purpose of AML, CDD and KYC Compliance Sources

Lecture 45 Test of Knowledge - Compliance Sources

Lecture 46 Answers to Test of Knowledge - Compliance Sources

Section 11: Overview of Bank Secrecy Act (BSA) CDD Requirements

Lecture 47 Overview of Bank Secrecy Act (BSA) - CDD Requirements

Section 12: Financial Action task Force (FATF) CDD, Wire Transfers and PEPs Recommendations

Lecture 48 Overview of FATF Recommendations on Customer Due Diligence (CDD)

Lecture 49 FATF Recommendations - When to Perform CDD Measures

Lecture 50 FATF Recommendations - Wire Transfers

Lecture 51 FATF Recommendation - Politically Exposed Persons (PEPs)

Lecture 52 FATF Recommendation - Example Performing EDD for PEP Account

Lecture 53 High Risk Accounts - NGO NPO Charity Accounts - Overview of AML/CDD Requirements

Section 13: KYC Governance Model, Roles of Board, Committees and Function

Lecture 54 KYC Governance Model and Structure

Lecture 55 Board Level and Management Level Compliance Committees

Lecture 56 Management Compliance Committee Model

Lecture 57 Roles of Board Level Compliance Committee (BCC)

Lecture 58 Roles of Management Compliance Committee (MCC) - CDD KYC

Lecture 59 Roles of Compliance Function

Lecture 60 Further Roles of Compliance Function

Lecture 61 Coordination and Reporting by Compliance Function

Section 14: Case Scenarios - AML/CDD/KYC

Lecture 62 Scenario 1 - Account Opening Investigation and Enhanced Due Diligence Actions

Lecture 63 Scenario 2 - Fake Accounts Investigation and Compliance Actions Taken

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