Know Your Customer (KYC) from a Quality Assurance perspective
About the course
This course’s primary purpose is to provide the international principles and techniques of Know Your Customer and Customer Due Diligence applied globally. The content is primarily applicable for Financial Institutions but can be applied to any size and sector-based company that accepts retail and/or corporate customers.
If you are interested in the Know Your Customer procedure on international standards or already have a conventional finance or economics background and want to understand the more in-depth the risks and challenges of Financial Economic Crime and risk management within institutions This course will help you learn from the theoretical and practical application aspects.
What will you learn
Know Your Customer (KYC) refers to the process institutions use to verify the identities of their customers and ascertain what fraud risks they may pose. The premise is that knowing your customers — performing identity verification, reviewing their financial activities, and assessing their risk factors — can keep money laundering, terrorism financing and other types of illicit financial activities in check.
In this short course, you will learn and understand the fundamentals of Know Your Customer policy in financial institutions and also across industries serving corporate and/or retail customers.
- The common terminology and meaning within KYC
- Laws & regulations: International and Local rules
- The concepts Know Your Customer and Customer Due Diligence
- Risks for Institutions being non-compliance
- Stages of Money Laundering and how it works in practice
- Financial Economic Crime scenarios
- Final Case Study
After the completion of the course, students will receive the prestigious TAIF certificate.