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Fundamentals of KYC and CDD

AGRC Fundamentals (Level 2)

London Governance & Compliance Academy

Summary

Price
£350 inc VAT
Or £58.33/mo. for 6 months...
Study method
Online
Course format What's this?
Reading material - PDF/e-book, slides
Duration
5 hours · Self-paced
Access to content
365 days
Qualification
No formal qualification
Certificates
  • Certificate of completion - Free
Additional info
  • Exam(s) / assessment(s) is included in price
2 students purchased this course

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Overview

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.

Certificates

Certificate of completion

Digital certificate - Included

Course media

Description

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

Who is this course for?

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.

Requirements

There are no prerequisites to attend this course

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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