Kyc Cdd Edd

KYC, CDD, EDD & AML Risk Inclusive

Last updated 2022-01-10 | 4.3

- Understand what AML - Customer Due Diligence is? Also the different types of AML due diligence
- Pros and Cons of not observing due diligence in your organisation
- Know the best standards for formulating excellent KYC/CDD strategies

What you'll learn

Understand what AML - Customer Due Diligence is? Also the different types of AML due diligence

Pros and Cons of not observing due diligence in your organisation

Know the best standards for formulating excellent KYC/CDD strategies

How to design a standard KYC/CDD Policy for your business

Steps needed to take for Customer Due diligence according to FATF recommendations

Learn about enhanced due diligence (EDD)

when it is used and how to de-risk your client

Learn how to identify risk

risk profile customers

transactions and regions according to AML principles....

Bonus - Audio on AML Risk

* Requirements

* You should have a basic understanding of customer identification and acceptance
* Legal basis for identifying and verifying customers
* You should have basic AML Knowledge

Description

This is a three topic course compressed into a three-part module course plus one making it four (4) courses. These will extensively address the following

What KYC is, as defined extensively
Why KYC is necessary, why financial institutions like banks, insurance companies and others are easy AML targets
Learn the importance of KYC as advised by local and international standard setters
What KYC aims to achieve. Why financial institutions must go beyond just identifying their customers to familiarising themselves. Why this is necessary. Learn also about the KYC guide
Under CDD, we will define CDD, and draw a line between KYC and CDD. We will also explain why CDD is Importance and what best standards are available
Enhanced Due Diligence (EDD) - what is it all about and when is it applied, how do you de-escalate enhanced risk etc
Learn about record keeping and its relevance to CDD/EDD processes. What financial records are expected to be kept etc
We will examine the essentials of a proper KYC/CDD strategy and why we need to have a good strategy in place
And lastly, we will examine AML risks in details - Region, Product, Customer Transaction.

Who this course is for:

Anyone in customer relations, operations, management, compliance, front office staff, bank tellers, Human Resource
Students, financial institution interns, new hires
Criminal Law students, Fraud analysts

Course content

5 sections • 10 lectures

Course Overview - Video 1 lectures

Overview Preview 10:34

This is the course overview. Have a feel of the full course, and at the end if you are interested in designing a KYC/CDD Policy for your company or just for the fun of it, we will be glad to mentor you. The course is broken into four parts for better understanding, however the last part will require additional attention because of the length and information. Hope you enjoy the course and all the best.

KYC - Know Your Customer 3 lectures

KYC-Know Your Customer Preview 12:24

Quiz 1 KYC - Know Your Customer

Explain what you have learnt about KYC

Article- Understanding KYC Preview 00:08

CDD - Customer Due Diligence 3 lectures

CDD -Customer Due Diligence Preview 08:10

Quiz 2 - CDD

CDD Additional Resource Preview 00:00

A thorough understanding of what is expected when you need direction on how to go about conducting Customer Due Diligence is key. Read a one (1) page of steps to take from the FATF Recommendations and Basel Committee on Banking Supervision -" Customer due diligence for banks"