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Certificate in Sanctions Screening & KYC Foundations

Enroll in the Certificate in Sanctions Screening & KYC Foundations and take your Know Your Customer Career to the next level!

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Course Description

In today’s globalized world, ensuring compliance and safeguarding against potential financial and reputational risks is of paramount importance. The « Certificate in Sanctions Screening & KYC Foundations » is a comprehensive program designed to provide learners with a robust understanding of both the theoretical and practical aspects of sanctions screening and the Know Your Customer (KYC) process. By the end of the course, participants will be equipped with the knowledge and skills to enhance their organization’s sanctions screening and KYC procedures and reduce associated risks.

Module 1 delves into the foundational concepts of sanctions screening and KYC. Participants will explore the relevance of sanctions screening for organizations, gaining an overview of its implementation and its interplay with KYC procedures. We will also touch on guidelines from the Wolfsberg Group and look into a case study on the roles of OFAC and FCC in this realm. At the end of this module, a multiple-choice quiz will assess learners’ understanding of the discussed topics.

Module 2 provides a deep dive into the core pillars of KYC. Learners will understand the significance of a three-step KYC screening compliance framework, exploring the nuances of KYC policy formulation, process execution, data handling, and technology application in the KYC landscape. The intricacies of each of these pillars are unpacked, providing participants with a granular view of what constitutes a robust KYC system. As with the previous module, learners will test their knowledge through a multiple-choice quiz.

Module 3 shifts the focus to the core pillars of sanctions screening. Participants will gain insights into the design and management of sanctions screening policies and procedures, the role of a sanctions compliance officer, risk assessment strategies, and effective internal controls. The importance of testing for sanctions screening effectiveness will also be highlighted, complemented by a practical case study on designing an internal sanctions compliance program. After absorbing these essential components, a multiple-choice quiz will serve to gauge learners’ comprehension. The program concludes with a final assessment, ensuring participants have grasped the entire curriculum and are ready to apply their newfound knowledge to real-world scenarios.


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

Learning Objectives

  • Understand the fundamental principles of sanctions screening and its significance in organizations, particularly in the context of KYC and customer onboarding.
  • Grasp the role and importance of the sanctions screening program and recognize the interplay between sanctions screening and KYC.
  • Recognize the vital role of regulatory bodies such as OFAC and FCC in guiding and overseeing sanctions screening.
  • Delve into the core pillars of KYC, including understanding the three steps of a KYC Screening Compliance Framework, the creation and implementation of KYC policies, and the role of technology in streamlining and enhancing KYC processes.
  • Explore and understand the relevance of KYC data and the technology utilized in effective KYC implementation.
  • Gain in-depth knowledge of the five central pillars of sanctions internal compliance programs.
  • Apply theoretical knowledge into practical scenarios, leveraging real-world case studies related to planning and implementing a sanctions screening program within an organization.

Target Audience

  • Compliance Professionals: Those working in compliance functions who are responsible for ensuring that their organizations remain compliant with local and international regulations related to KYC and sanctions screening.
  •  Anti-Money Laundering & Anti-Financial Crime Professionals: Experts dealing with financial crimes and money laundering will benefit from a deeper understanding of KYC and sanctions screening as preventive measures.
  •  Risk Management Professionals: This group includes individuals in roles focused on assessing and managing organizational risks, particularly those related to financial transactions and customer relationships.
  •  Internal Controls & Internal Auditors: Professionals who monitor and audit internal processes related to financial transactions and customer interactions to ensure adherence to compliance norms.
  •  Business Leaders: Executives, including CEOs, CFOs, and other top-level management members who need an overview of KYC and sanctions screening processes to make informed business decisions and ensure regulatory compliance.
  •  IT and Data Professionals: Individuals in charge of managing and deploying technology solutions for KYC and sanctions screening will benefit from an understanding of the compliance requirements and best practices.
  •  Professionals Interested in Compliance & KYC: Any individuals, whether they are transitioning roles or expanding their knowledge base, keen on understanding the core concepts of KYC and sanctions compliance.

Requirements

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

Module 1: Introduction to Sanctions Screening & KYC Foundations

  • Introduction to this Module
  • Relevance of Sanctions Screening of Transactions and Customers for the Organization
  • Overview of the Sanctions Screening Program
  • Relevance of KYC for Effective Sanctions Screening
  • Wolfsberg Group: Guidance on Sanctions Screening
  • Case Study: Role of OFAC and FCC in Sanctions Screening
  • Module Summary
  • Multiple Choice Quiz

Module 2: Core Pillars of KYC

  • Introduction to this Module
  • Three Steps of a KYC Screening Compliance Framework
  • Core Pillar #1: KYC Policy
  • Core Pillar #2: KYC Process
  • Core Pillar #3: KYC related Data
  • Core Pillar #4: KYC-related Technology
  • Module Summary
  • Multiple Choice Quiz

Module 3: Core Pillars of Sanctions Screening

  • Core Pillars of Sanctions Screening
  • Introduction to this Module
  • Core Pillar #1: Sanctions Screening Policies and Procedures
  • Core Pillar #2: Responsible Person or Sanctions Compliance Officer
  • Core Pillar #3: Sanctions Screening Risk Assessment
  • Core Pillar #4: Internal Controls Relating to Sanctions Screening
  • Core Pillar #5: Sanctions Screening Effectiveness Testing
  • Case Study: Design of the Sanctions Internal Compliance Program in Practice
  • Module Summary
  • Multiple Choice Quiz

Final Assessment

  • Final Assessment

Completing the Program

  • Completing the Program

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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?

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