Understanding the concept and importance of Know Your Customer (KYC)

Identifying the relationship between KYC and Anti-Money Laundering (AML)

Applying KYC requirements in different regulatory contexts

Understanding international KYC frameworks (FATF, BCBS, Wolfsberg Group, EU, GDPR, AMLA 2020)

Implementing customer onboarding requirements for individuals and entities

Verifying customer identity and identifying the real beneficiary

Screening for Politically Exposed Persons (PEPs)

Understanding KYC requirements for corporate accounts and Ultimate Beneficial Owners (UBOs)

Assessing risks associated with charities and non-profit organizations (NPOs)

Understanding FATCA & CRS regulations and tax compliance obligations

Conducting customer due diligence and reasonableness tests for FATCA & CRS compliance

Applying a risk-based approach to customer due diligence (CDD)

Understanding customer risk rating and AML risk classification models

Implementing electronic AML risk rating and risk-scoring models

Managing account opening processes using centralized and decentralized approaches

Handling KYC updates and managing customer instructions via fax or email

Opening and monitoring non-face-to-face accounts

Managing incomplete, dormant, and closed accounts within compliance requirements

Understanding the role of digital identity in customer onboarding

Identifying challenges, threats, and benefits of digital identity solutions

Implementing mechanisms for secure and compliant online onboarding