A key concern and significant risk for financial institutions remain the possibility of unknowingly becoming complicit in money laundering actions, where illegitimate money is moved into legitimate institutions. In order to mitigate such risk, FIs have strengthened their internal control systems by increasingly making use of Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements, as part of their anti-money laundering (AML) strategies.

About the Certificate

KYC/CDD is a critical element for effectively managing the risks posed by potential clients (thus protecting the organization against criminals, terrorists, and Politically Exposed Persons (PEPs) who might present a higher risk) and possible dubious actions by existing customers that need to be regularly reassessed.

This certificate course provides essential knowledge for KYC and CDD procedures which are key tools in assessing customer risk and a legal requirement to comply with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) laws. Effective KYC/CDD involves knowing a customer’s identity and their financial activities, ongoing monitoring of business activities, and identifying and mitigating the AML/CFT risk a business relationship may pose on the regulated entity.

Expected Learning Outcomes

• Understand the importance of adopting effective KYC/CDD policies and procedures in a regulated entity
• Review international guidance on the essential elements of KYC standards and the applicable regulatory framework
• Have the ability to establish and maintain a solid CDD programme
• Successfully assess the different levels of due diligence that can be applied by an entity
• Efficiently deal with higher risk situations and cases in an effective manner
• Have a practical perspective on the adverse effects that can result from lack of efficient KYC/CDD procedures

Topics covered

• An introduction to KYC/Customer Due Diligence (CDD)

• The value of Customer Due Diligence (CDD)

• CDD: Establishing and maintaining a strong CDD programme

• CDD in higher risk situations and record keeping requirements

• AML Case Studies

Target Audience

This module is addressed to all individuals who practice Anti-Money Laundering such as Compliance/AML Managers in Banks, Investment Firms, Investment Funds, Trust Service Corporate Providers and Lawyers.

Format

• Register at any time for this online, open Certificate
• Study in your own time and at your own pace (you have up to 3 months to complete)
• Assessed by online multiple-choice exam

What is included

• 15 hours of self-paced online interactive learning including analysis of 7 practical case studies
• 1-year free AGRC membership
• Online Exam and AGRC Certificate



Completion Requirements

• Success in all of the four unit tests. Each unit is allocated four Multiple Choice questions (MCQs). In total 16 Multiple Choice questions with a pass mark of 70% and an unlimited number of attempts. Each unit test is 10 minutes.
• Success in the final test of 40 MCQs for the completion and award of the Certification in KYC and CDD, issued by the Association of Governance, Risk and Compliance (AGRC). The pass mark is 70% and two attempts are permitted. The final test is 60 minutes.

Accreditation and CPD Recognition

This programme has been developed by the European Institute of Management and Finance (EIMF), an EU recognised training institution.

The syllabus is verified by external subject matter experts and may be accredited by financial regulators such as CySEC, and general financial training accreditation bodies, such as CISI and ACAMS, for 15 CPD Units.

Registration and Access

To register for this course, click on the Get this course button to pay online. If you wish to receive an invoice instead of paying online, please Contact us here.