Customer Due Diligence, KYC and Enhanced Due Diligence
Practitioner2 daysAML/CFT
Programme overview
Operational depth on the onboarding and review side of AML. Built for the people who actually open accounts and review files. Heavy on document work: delegates work through real style customer files, including complex legal persons, trusts, PEPs and non resident customers, and make documented risk decisions.
Who should attend
Onboarding and account opening staff, branch and relationship managers, KYC analysts, client take on teams in professional firms, AML officers, and quality assurance reviewers.
Sectors
Banks, mobile money and payments, insurers and brokers, SACCOs and microfinance, foreign exchange bureaux, legal and accounting firms, estate agencies, motor dealers.
Modules
- The risk based approach applied to onboarding: matching effort to risk
- Identification and verification standards for natural persons, including non residents and customers without conventional documentation
- Legal persons: companies, close corporations, partnerships, cooperatives, associations and their control structures
- Trusts and other legal arrangements: settlor, trustee, beneficiary, protector
- Beneficial ownership: tracing to natural persons through layered ownership
- Politically exposed persons: identification, senior approval, source of wealth, and ongoing scrutiny
- Sanctions and adverse media screening: setting match thresholds and clearing false positives
- Source of funds versus source of wealth: what evidence is actually acceptable
- Enhanced due diligence triggers and what EDD must add
- Simplified due diligence: when it is permitted and how to document the justification
- Ongoing due diligence, trigger events and periodic review cycles by risk band
- Remediation of legacy files and dormant accounts
- Quality assurance of CDD files and common inspection findings
- File clinic: delegates assess and decide on eight complex customer files
Learning outcomes
On completion delegates will be able to:
- Apply the correct level of due diligence to any customer type
- Identify beneficial owners through layered structures
- Screen for sanctions and PEP status and clear alerts defensibly
- Evidence source of funds and source of wealth appropriately
- Document a risk decision that will survive supervisory review
- Run a QA check on a colleague's CDD file
Tools and templates provided
- CDD checklists by customer type (8 types)
- Beneficial ownership worksheet
- PEP and source of wealth questionnaire
- File QA scorecard
- Legacy remediation plan template
Assessment and certification
Assessed file clinic with documented risk decisions.
Certificate of Completion.