AML KYC TRAINING KNOW-YOUR-CUSTOMER (KYC) BASICS COURSE
Know your customer is an essential part of anti-money laundering efforts. It is important to identify your contractual partner and understand who your client is. In the digital age, fraud, identity theft and money laundering are all possible when you onboard a new client. Therefore, a thorough KYC check during onboarding and continuous checks based on the risk rating are essential in order to remain compliant and fight financial crime.
What you’ll learn
• What Know Your Customer (KYC) is
• Risk based approach
• Customer due diligence & record keeping
• The different risk factors
• Monitoring of account activity
• How to treat high risk clients (enhanced due diligence)
• Entry-level AML compliance professionals
• Individuals looking to start a career in AML compliance
• Business owners of businesses which are required to comply with AML regulations
|Content||Standard Course||Certified Course|
|Real-life example cases||✓||✓|
|24/7 access anytime& anywhere||✓||✓|
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|Courses developed by experienced AML experts||✓||✓|
|Bonus best practice tips||✕||✓|
|Useful downloadable bonus material||✕||✓|
|Live Q&A Session with one of our training professionals||✕||✓|
|Marked final assessment||✕||✓|
Know-Your-Customer (KYC) is a part of Customer Due Diligence, the process of identifying and verifying the customers of a regulated financial institution or designated non-financial business and profession. Know-Your-Customer (KYC) is a comprehensive check ranging from obtaining and verifying general data of the customer, determining the ultimate beneficial owner, checking for red flags indicating possible money laundering risks and ultimately making a rational decision whether to approve the case or report the client to he relevant authorities.
Money laundering risk factors such as country risk, industry risk, risks deriving from the legal entity type, delivery channel risk and product risk will all be touched upon and explained in further detail. You will learn how to identify per se risk factors such as politically exposed persons (PEP), bearer shares, nexus to high risk countries or industries, negative news and adverse media or ties to virtual currencies. Furthermore this AML KYC training course will help you get a better feel and understanding of all the above-mentioned risk factors and differentiate between a real risk and merely an indicator of such risk which can be disregarded due to a plausible explanation.
This AML KYC training course will introduce you to Know-Your-Customer (KYC) and all relevant and necessary process steps. You will be introduced to the subject matter in a highly practical manner with case studies, examples and interactive assignments accompanying you along the learning journey. Monday morning readiness is our motto and you will be ready for working on low risk KYC checks immediately after finishing this course. For higher risk cases we recommend further expanding your knowledge in our KYC advanced course.
Will you aid us in the fight against money laundering and prevent money launderers from abusing the financial sector in order to create a safe and innovative environment for businesses to thrive and create new, efficient and helpful solutions to end consumers and businesses. The certified AML KYC training course provides a certificate which demonstrates your expertise in the area.
Ensure that your business or institution remains compliant in order to avoid fines and other restrictions so that you can focus on entirely on optimizing and promoting your product or service. Educated employees can increase effectiveness and reduce costs when undertaking relevant anti-money laundering checks and ongoing monitoring. AFC Academy AML KYC training certified employees are ready to go immediately and save you a lot of time & effort in the ongoing efforts in Know-Your-Customer (KYC).