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\u2019s 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 \u2022 Understand the importance of adopting effective KYC\/CDD policies and procedures in a regulated entity \u2022 Review international guidance on the essential elements of KYC standards and the applicable regulatory framework \u2022 Have the ability to establish and maintain a solid CDD programme \u2022 Successfully assess the different levels of due diligence that can be applied by an entity \u2022 Efficiently deal with higher risk situations and cases in an effective manner \u2022 Have a practical perspective on the adverse effects that can result from lack of efficient KYC\/CDD procedures Topics covered \u2022 An introduction to KYC\/Customer Due Diligence (CDD) \u2022 The value of Customer Due Diligence (CDD) \u2022 CDD: Establishing and maintaining a strong CDD programme \u2022 CDD in higher risk situations and record keeping requirements \u2022 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 \u2022 Register at any time for this online, open Certificate \u2022 Study in your own time and at your own pace (you have up to 3 months to complete) \u2022 Assessed by online multiple-choice exam What is included \u2022 15 hours of self-paced online interactive learning including analysis of 7 practical case studies \u2022 1-year free AGRC membership \u2022 Online Exam and AGRC Certificate Completion Requirements \u2022 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. \u2022 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 London Governance and Compliance Academy (LGCA), a UK-recognised training institution. The syllabus is verified by external subject matter experts and may be accredited by financial regulators, 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 at info@lgca.uk.<\/p>\n","protected":false},"excerpt":{"rendered":"
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