Know Your Customer

Overview / Course outline 


Know Your Customer (KYC) training is designed to provide individuals with the skills and knowledge to comply with regulations related to customer identification and due diligence. The training typically covers a range of topics including KYC concepts and regulatory requirements, customer identification and verification procedures, risk assessment, and ongoing monitoring of customer accounts. Participants will learn various tools and techniques to effectively identify and verify customer information, assess customer risk, and monitor customer accounts for suspicious activity.

Introduction to KYC

  • Definition of KYC.
  • Purpose and importance of KYC.
  • Regulatory requirements for KYC.

Customer Identification and Verification

  • Procedures for identifying customers.
  • Verification of customer identity.
  • Document requirements for KYC compliance.

Customer Due Diligence (CDD)

  • Risk-based approach to CDD.
  • CDD requirements for different types of customers.
  • Ongoing monitoring of customer accounts.

Risk Assessment

  • Identification of high-risk customers.
  • Procedures for assessing customer risk.
  • Risk mitigation strategies.

Legal and Ethical Considerations

  • Data privacy and security considerations.
  • Ethical considerations related to KYC.
  • Legal obligations for customer information management.

KYC Compliance Program

  • Designing and implementing a KYC compliance program.
  • KYC audit and testing.
  • Continuous improvement of KYC processes.

 

Prerequisites

While there are no prerequisites to attend this course

What will the attendees aim to learn/gain from attending this course? 

The training covers legal and ethical considerations related to customer information management and privacy. Overall, KYC training provides individuals with the skills and knowledge needed to comply with regulatory requirements and protect their organization from financial crime and reputational risks.

Course delivery 

Virtual (Online) – Train without the travel with our instructor-led online courses giving you all the benefits of classroom study without the hassle, uncertainty, and cost of travel.

 

What’s included on this course? 

  • Course material (digital copy provided as a PDF file
  • Know your customer (KYC) review and questions, answers & explanations study guides (digital copies).
  • Certificate of attendance 
Duration

Project engagement (over 3 months → 4 months 3x project meeting every week

Online Instructer-Led:

4 - 6 days (delivered over 6 Saturdays or 3 weekends – Saturday and Sunday)  9:00am – 4:00pm