AML Compliance - Customer Due Diligence & KYC
This webinar will focus on the critical aspects of Customer Due Diligence (CDD) and also be a reminder of the importance of ‘know your client’ - KYC.
It will give you an insight into the importance of knowing who your client is, before undertaking their instructions. It will also discuss key questions that we should also be undertaking - source of wealth and source of funds - and will further discuss the crucial importance of the other duty, that of ongoing monitoring.
It will also focus on the SRA’s recently-increased attention to the issues of PEPs, sanctions, procedural efficacy and risk assessment.
What You Will Learn
This webinar will cover the following:
- CDD in theory and reality - key questions to ask of clients
- Who checks the credentials? Are they actually checking the right things?
- What to do if you spot something unusual - internal and external reporting
- Key aspects of KYC
- Duties of ongoing monitoring
- Key points arising from recent SRA thematic reviews
Quick Quiz - Test Your Knowledge: Money Laundering