Fundamentals of Know Your Client (KYC) and Customer Due Diligence (CDD) in United States

Fundamentals of Know Your Client (KYC) and Customer Due Diligence (CDD)

A key concern and significant risk for financial institutions is the possibility of unknowingly becoming complicit in money laundering, whereby illegitimate money is moved into legitimate institutions. To mitigate such risk, financial institutions 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.

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 course provides essential knowledge for KYC and CDD procedures, both 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 a regulated entity.

Course Content

• An introduction to KYC/Customer Due Diligence (CDD)
• The value of Customer Due Diligence (CDD)
• CDD: Establishing and maintaining a strong CDD programme

Training Duration

This course may take up to five (5) hours to complete. Keep in mind, however, that actual study time varies based on each learner’s training pace.

Cost

£350 (includes self-paced online course, customer support, and one-year free membership to AGRC)

Who Should Enrol?

This course is addressed to all individuals who practice AML such as compliance and/or AML managers in banks, investment firms, investment funds, ASPs, trust service corporate providers, and lawyers.

Training Method

The course is offered online using a self-paced approach. The learning units consist of video presentations and reading material. Learners may start, stop, and resume their training at any time.

At the end of the training, participants take a quiz to complete their learning and earn a Certificate of Completion.

Accreditation and CPD Recognition

This programme has been developed by the Association of Governance, Risk & Compliance (AGRC), a globally recognised GRC certification organization and network.

The syllabus is verified by external subject matter experts and can be accredited by regulators and other bodies for five (5) CPD units that approve education in financial regulation. The course may be also approved for CPD units by institutions that approve general financial training such as CISI and ACAMS.

Eligibility criteria and CPD units are verified directly by your association, regulator, or other any other body for which you hold membership.

Registration and Access

To register for this course, click on the button above to pay online and receive access. If you are purchasing this course on behalf of others, please be advised that you will need to provide us with their name and email address.

Access to the course is valid for 90 days.