Risk-Based AML Customer/Client Due Diligence

Risk-Based AML Customer/Client Due Diligence

Frequency: Quarterly   

Duration: 1 day

Duration: Location: Cordium UK offices, 130 Jermyn Street, London, SW1Y 4UR

Cost: £649 + VAT

Course Overview:

This course delivers practical guidance on the implementation of Risk Based Customer Due Diligence (CDD). With the continuing focus by the Regulator(s) on financial crime preventing, and particularly AML, it is vital that firms are able to demonstrate a risk based approach and evidence that appropriate CDD has been competed on all customers and other business relationships. There are many cases of firms getting this wrong and being fined, so whether your firm is in the wholesale or retail markets, this course is relevant to your business. Please note that attendance at this course assumes a good knowledge of the UK AML environment.

Course Objectives:

  • A sound knowledge of what CDD is and why it is a requirement
  • The ability to carry out the CDD process in a compliant manner
  • The ability to evidence a risk based approach
  • An opportunity to benchmark your current on-boarding arrangements
  • The potential for a “clean” report from the Regulator

Key topics:

  • The Law and Regulations
  • The Joint Money Laundering Steering Group
  • A Risk Based Approach
  • Standard identification and verification
  • An AML Risk Assessment
  • Customer Due Diligence (CDD)
  • Risk based CDD: Enhanced Due Diligence and Standard Due Diligence
  • Politically Exposed Persons (PEP) Sanctions
  • Monitoring

Course aimed at: Compliance, the Money Laundering Reporting Officer, individuals involved in client On-Boarding and Senior Management

Maximum numbers: 12

This course can also be delivered as an onsite course or as an instructor lead course at a firm’s office.