AML & KYC
AML (Anti-Money Laundering) refers to regulations and practices aimed at preventing criminals from disguising illegally obtained funds as legitimate income.
KYC (Know Your Customer) is the process of verifying a customer’s identity before and during the business relationship to prevent fraud, money laundering, and terrorist financing.
- Understanding global AML/KYC regulations and compliance frameworks
- Customer identification and due diligence processes
- Transaction monitoring and risk management
- Suspicious activity reporting (SAR)
- Role of financial institutions and regulators
- Case studies and real-world scenarios
- Basic knowledge of banking or financial services (recommended but not mandatory)
- Understanding of regulatory environments is helpful
- Good communication and analytical skills
- AML & KYC
- Definition and history of AML/KYC
- Global regulations and key organizations (FATF, FinCEN, etc.)
- Customer Due Diligence (CDD)
- Types of KYC: Simplified, Standard, and Enhanced
- Customer Identification Program (CIP)
- Risk Assessment & Profiling
- Identifying high-risk customers
- PEPs (Politically Exposed Persons) and sanction screening
- Transaction Monitoring
- Behavioral patterns and red flags
- Automated vs manual monitoring systems
- Suspicious Activity Reporting
- When and how to file SARs
- Legal obligations and whistleblower protection
- Regulatory Frameworks & Penalties
- International standards and country-specific laws
- Consequences of non-compliance
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