Navigating Grey Areas in KYC and Due Diligence in AML

Goals

What You'll Learn:

1. Basics of KYC Fundamentals:

   • Define what KYC is and why it is important for AML.

   • Consider how KYC has changed over time.

   • Explore how AML regulations globally or regionally affect KYC requirements.

2. Key Components of KYC:

   • Explore the Customer Identification Program (CIP) in detail.

   • Understand the Risk-Based Approach (RBA) and its implementation.

   • Unpack advanced due diligence techniques, including Enhanced Due Diligence (EDD).

3. Challenges in KYC Implementation:

   • Address cultural, geographical and technological challenges.

   • Navigate the evolving landscape of KYC technology.

   • Balance KYC requirements with customer privacy and data protection regulations.

4. Expertise Challenges in KYC and Due Diligence:

   • Identify and address skill gaps within KYC teams.

   • Foster interdepartmental collaboration for holistic due diligence.

   • Explore strategies for continuous training and development.

5. Fraud Elements in KYC and Due Diligence:

   • Deep dive into identity fraud techniques.

   • Explore emerging threats in due diligence.

   • Detect transactional anomalies and red flags.

6. Advanced Techniques in KYC and Due Diligence:

   • Leverage Artificial Intelligence (AI) and Machine Learning (ML) applications.

   • Explore the role of blockchain technology in KYC.

   • Understand the additional documents required for Enhanced Due Diligence.

7. Handling Grey Areas in the Digital World:

   • Address challenges in onboarding diverse customers (e.g., disabled, non-tech-savvy).

   • Provide solutions for a human-centric approach to AML in the digital era.

   • Recap key learnings and outline next steps for continuous improvement.

Why Enroll: For AML professionals, compliance officers and any other individual who wishes to have a deep understanding of the different facets in KYC and Due Diligence, this course is meant just for you. By the end of it, you would be equipped with advanced knowledge as well as practical strategies to navigate the complex challenges attached to this confusing and ever changing world of AML compliance.

Prerequisites

No Prerequisites required