AML/CFT & Client Due Diligence

The money laundering and terrorism financing risks banks face manifest themselves through the interaction with their customers. These same customers expect their banks to provide excellent service and managing these seemingly competing interests carefully is a delicate process, fraught with risks.

To address the AML/CFT risks, and following directives from their Regulators, banks have generally adopted a ‘3 lines of defence’ governance model and developed extensive, ‘risk-based’ customer due diligence procedures. Implementing this model and understanding the roles and responsibilities of each line can be a challenge, both for bankers as well as their customers.

Course Overview
Module 1 provides a general introduction to the world of financial crime and the importance for societies to prevent money laundering and financing of terrorism. Module 2 discusses the legal/regulatory framework and the practical implications for banks to manage these risks.
Target Audience
The target audience includes banks’ client facing staff, customer support staff, junior Compliance officers, and senior management. This course is also very well suited for non-bank actors dealing with this topic, such as Fund Managers, Trust & Company Services Providers, FinTech and RegTech.
Knowledge Test & Certification
Each module will end with a Knowledge Check to test if the participants have understood the content of the training. The results of the tests can be saved or printed and can serve as an audit trail for evidence towards the regulator.
Audit Reporting Package
Evidence of course completion of users including Knowledge Test scores & time stamp for local Regulators and Correspondent Bank relationships. Including document with e-learning content (slides) plus list of questions of the knowledge checks.

Course Objectives

At the end of the training, participants will be able to:

  • Discuss the impact of money-laundering and terrorist financing
  • Explain the three stages of Money Laundering
  • Discuss the need of AML/CFT legislation
  • Explain the role of regulatory authorities
  • Understand the implications of Customer Due Diligence investigations

Course Content

Module 1: Introduction to Money Laundering & Terrorism Financing

  • Why do criminals launder money
  • What are the consequences of money laundering
  • What are the 3 stages of money laundering
  • What is the role of banks
  • What is terrorism and terrorism financing
  • What are the principle uses and sources of money by terrorist organisations
  • What are the principal methods used by terrorist organisations to transfer money
  • Knowledge check

Module 2: Implications for banks: Customer Due Diligence

  • Laws & regulations
  • Three lines of defence
  • Three elements of KYC
  • Risk-based approach to CDD
  • Managing risks through the client lifecycle
  • Special CDD topics
  • Knowledge check

LMS platform & services

i-KYC’s e-learning courses are produced applying the industry standard SCORM 1.2 programming protocol. You may choose to have them delivered to you electronically, ready for uploading to your hosting platform. In case you need a hosting platform or wish to reduce the burden on your HR and IT organisations, i-KYC can support you in the roll-out with our low cost, state-of-the-art Learning Management Solution.

i-KYC offers a comprehensive cloud-based Learning Management Platform with the following essential features:

  • Exclusive LMS Platform with own ‘Look & Feel’
  • LMS administration and support services
  • Hosting of multiple e-learnings (including 3rd party providers)
  • Administer other training methods (e.g. classroom training, assessments)
  • Scalability, flexibility and operational efficiency
  • Monitoring and analytical capabilities

Benefits of the LMS Services

Outsourcing your LMS

Rapid and no-hassle deployment of your complete learning programme using a dedicated single point of contact.

Own Look & Feel

Create your exclusive Learning Management Platform with company logos and own Look & Feel.

Create Learning Paths

Combine multiple courses in logical groupings to create personalized learning paths for your valued learners to engage.

Third Party Content

Add content from various learning service providers (provided courses are SCORM compatible).

Management Reporting

Review performance and gain insight into training impact with reports and dashboards, or create custom reports delivered via email.

Audit Trails

Instant evidence to internal and external stakeholders of compliance with training-related regulatory obligations.

Special: Audit reporting package for
Management, Local Regulators and Correspondent Bank relations:

  • Evidence of course completion of users including Knowledge Check scores & time stamp
  • Document with e-learning content (slides) plus list of questions of the knowledge checks

i-KYC’s LMS administration and support services include:

  • administration of unique user accounts
  • grouping by Teams/Departments;
    uploading and installation of e-learning programmes
  • roll out of e-learning courses to the target group (invitation to attend)
  • administration of classroom trainings
  • data collection and progress monitoring
  • due date follow-up
  • periodic management reporting
Contact Us Now

Contact us today for more details
or a demo