Outdated or incomplete customer information can expose firms to risks related to anti-money laundering (AML) and financial crime. To strengthen their AML and financial crime defence’s, firms must regularly review and update clients information. This course focuses on the essential steps that banks must take to ensure that client information held remain accurate and risk- relevant at all times.
What will you learn?
- Introduction to regulations and guidance on client KYC/CDD.
- Remote customer identification and verification standards.
- Customer types and conducting risk-based KYC/CDD reviews and remediation.
- Data gap identification and collection of missing information.
- Transition from periodic to perpetual KYC.
- Data management and record-keeping standards
- Practical exercises: Case study on refreshing CDD of correspondent banking clients.
Who is this course for?
This is a refresher course for managers and supervisors overseeing CDD teams, KYC escalations and reviews teams, and all frontline and operational staff in onboarding and remediation functions in banks, telcos, FinTechs, mobile money services, law and accounting firms, and other obliged entities. Interested?