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!

Preview this course

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.


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

Learning Objectives

  • 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

Target Audience

  • 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.

Learning Method

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

  • Introduction to the Program

Preparatory Reading

  • Preparatory Reading

Module 1: Introduction to Know Your Customer

  • 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

Module 2: Overview of relevant KYC/CDD Laws and Regulations

  • 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

Module 3: Organizational KYC/CDD Measures and Core Principles

  • 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

Module 4: The KYC/CDD Process in Practice

  • 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

  • Final Assessment

Completing the Program

  • Completing the Program

Ready? Get unlimited access to all courses and webinars by joining our membership today!

Frequently Asked Questions

What are the requirements to take the courses?

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.

Can I download course files and resources for the course?

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.

How long do I have to complete the courses?

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.

Are there any additional fees or costs?

None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification.

What currency are your courses priced in?

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.

How do I earn my certificates?

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.

How are the exams conducted?

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.

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries.

Will these courses help me advance my career?

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.

More Questions?

Email us and we'll be happy to answer any of your questions.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

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.