Certificate in Know Your Customer Foundations
Enroll in the Certificate in Know Your Customer Foundations and take your Know Your Customer Career to the next level!
Course Description
Know Your Customer, often known as KYC, enables a business to be aware of the qualifications and history of a potential customer. Before onboarding a customer, businesses like financial institutions are required to complete the KYC process. Later, throughout other stages, like periodic compliance checks or investigations, they must update the KYC. The KYC procedure guards against the use of an organization for terrorist financing or money laundering.
This course was created since almost all organizations need it. Organizations like banks, insurance firms, brokerage houses, and other institutions must identify and verify their customers. It is important for firms to avoid onboarding criminals such as money launderers, terrorists, tax evaders, insider traders, cyber attackers, etc. The development and implementation of KYC processes by the firms enables them to assure that no goods and services are offered to criminals.
This certificate program is a fundamental training with four modules that will cover the key ideas of KYC measures that are designed and set up in businesses to reduce the risk and occurrence of money laundering and terrorist financing situations. Additionally, it will include the KYC procedures, organizational measures, and guiding concepts.
What You Will Get From This Course
In-demand Skills
Gain the relevant knowledge to ensure that you are supporting your firm and progressing your career.
Career Credential
Get a certificate from the FCA Financial Crime Academy.
Flexibility
Study on-demand and at your own time and pace, regardless of where you are in the world with this flexible online course.
Global Community
Get access to our exclusive LinkedIn group with 1,500+ like-minded professionals and experts.
Course Material
Download supplementary course material such as the comprehensive course study guide.
Quiz Questions
Test your knowledge with multiple-choice questions and determine which skills you have mastered!
Course Overview
- Understand the foundational concepts of KYC/CDD
- Be aware of the relevance of KYC/CDD in practice
- Differentiate between and characterize KYC/CDD
- Understand key KYC/CDD laws and regulations
- Comprehend global regulatory KYC/CDD frameworks
- Differentiate between key international legislative bodies and standard-setters
- Be aware of risks associated to KYC/CDD from an organizational perspective
- Identify organizational KYC/CDD risk management and risk mitigation principles
- Understand how to conduct an KYC/CDD activities effectively in practice
- Identify indicia for potential suspicion with regards to KYC/CDD
- Compliance professionals that want to acquire a solid understanding of KYC/CDD
- Risk management professionals that want to effectively manage KYC/CDD risks
- Ambitious KYC/CDD compliance personnel looking to broaden knowledge and skills
- Career starters seeking career opportunities in the KYC/CDD and compliance industry
For participating in this Certificate Program, you will need an electronic device with online video-viewing capabilities (e.g., smartphone, tablet, laptop, desktop computer, etc.). You will need no previous knowledge in compliance or anti-financial crime, although this is helpful. A background in business, legal, or finance might also be beneficial but is not required.
This Certification Program is presented entirely online. Modules can be completed in your own time and at your own pace. This interactive, supportive teaching model is designed for busy professionals and results in unprecedented certification rates for Certification Programs.
Course Curriculum
- Introduction to the Program
- Preparatory Reading
- Introduction to This Module
- What is Know Your Customer? What is Customer Due Diligence?
- Why is KYC/CDD Important?
- Relevance of KYC/CDD for Compliance and Anti-Financial Crime (AML/CTF, Fraud Prevention, Sanctions, etc.)
- KYC/CDD for Organizational Risk Management (Regulatory Risk, Legal Risk, Financial Risk, Reputational Risk)
- Who is Your Customer? Definition of Customer and Types of Customers in Financial Services and Other Industries
- Case Study – Fines on Banks Due To Non-Compliance of KYC Requirements
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Introduction to This Module
- Financial Action Task Force - Overview of Relevant KYC/CDD Recommendations
- Wolfsberg Group - Overview of Relevant KYC/CDD Guidance
- United States - Overview of Relevant KYC/CDD Laws & Regulation
- European Union - Overview of Relevant KYC/CDD Laws & Regulation
- United Kingdom - Overview of Relevant KYC/CDD Laws & Regulation
- Hong Kong & Singapore - Overview of Relevant KYC/CDD Laws & Regulation
- Case Study: Role of Financial Action Task Force in Prevention of ML/TF
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Introduction to This Module
KYC/CDD in the Customer Lifecycle: Onboarding, Ongoing, Event-Driven, Exit
The Risk-Based Approach to KYC
Overview of key risk categories: Customer risk, Jurisdiction Risk, Product Risk, and Channel Risk
Levels of Due Diligence: Simplified, Regular, and Enhanced
Customer Identification and Customer Verification
KYC/CDD for Persons vs. Legal Entities
Nature and Purpose of the Relationship
Beneficial Ownership and Control
Relevant KYC Red Flags: Politically Exposed Persons, Shell Companies, High-Risk Jurisdictions, and Others
Case Study: Performance of Simplified Due Diligence to Open an Account
Module Summary
Multiple Choice Quiz
Further Reading and References
- Introduction to This Module
- Overview of the 4-Step KYC Process
- Step 1: Assess
- Step 2: Explore
- Step 3: Organize
- Step 4: Present
- Case Study: Performing 4 KYC Steps for a Prospective Business Customer
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Final Assessment
- Completing the Program
What our students are saying
Frequently Asked Questions
All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, a smartphone or table, and a stable internet connection.
Absolutely! All the files (including study guide, audiobook, course slides, etc.) in a course are available for download. Just look for a module that shows the files within a course.
You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines.
Yes, FCA is accredited by the CPD Standards Office® (CPD) to maintain training standards.
None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification.
All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.
Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 60% passing grade.
Students are required to complete an online assessment (mostly multiple choice questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 60% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need.
While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries.
Based on hundreds of reviews from thousands of students we know how the Financial Crime Academy’s courses have helped so many people advance their anti-financial crime, compliance, and risk management careers. Our courses are designed to teach in-demand skills and relevant background knowledge of subject matter expertise needed in practice.
Email us and we'll be happy to answer any of your questions.
10 Learning Hours
Unlimited Lifetime Access
Access on Mobile and TV
Certificate of Completion
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Interested in Group Training?
Empower your teams with the leading anti-financial crime, compliance, and risk management training and certifications.
10 Learning Hours
Unlimited Lifetime Access
Access on Mobile and TV
Certificate of Completion
Share
Interested in Group Training?
Empower your teams with the leading anti-financial crime, compliance, and risk management training and certifications.
Learn In-Demand Skills with On-Demand Courses
Gain the relevant skills and knowledge to ensure that you are supporting your firm and progressing your career.
We are the most disruptive online education provider for the global anti-financial crime community — Fighting financial crime with online education!
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