Know Your Customer & Customer Due Diligence Training

Q: What does Know Your Customer entail?

Know Your Customer , KYC, is a due diligence process that financial companies and institutions undertake to verify their customer’s identity, monitor and assess risk. It’s a process to ensure the customer is who they say they are.

Q: What are the components of Know Your Customer?

Some of the key components of Know Your Customer are identity document verification, face verification, and proof of documentation like proof of residence and biometric verification.

Q: What skills are required to work as a KYC analyst?

To work as a KYC and due diligence analyst for an organisation, you need to have project management knowledge, understand team building processes, be able to multitask, work with little or no supervision, and a good grasp of risk and compliance. Find out more in Alison’s free course Know Your Customer & Customer Due Diligence Training .

Q: What is the best KYC training course?

Alison offers a comprehensive Know Your Customer & Customer Due Diligence Training course. The course willl teach you the concept of KYC, how to verify customers' identities and prevent fraud. The course will also discuss KYC compliance and the role it plays in combating money laundering and terrorism funding. It will outline the three categories of customer due diligence based on the level of risk associated with each individual and more.

Discover how to verify the authenticity of customers' identities and prevent fraudulent acts in this free online course.

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Avg. Duration1.5-3 Hours (Contains Video)
Available Languages (3)
English
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Learning Outcomes

In this free course, you will learn how to:

Explain the phrase ‘know your customers’
Discuss KYC compliance and the role it plays in combating money laundering and terrorism funding
List the three components of KYC
Outline the three categories of customer due diligence based on the level of risk associated with each individual
Recall the steps of the KYC verification process
Identify the two methods of collecting data from documents
Recall the types of transactions that are indicators of risk
Outline the stages of money laundering operations and provide examples
Summarise AML, AML compliance programmes and AML client onboarding as well as its processes
Recall the penalties of non-compliance

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