The financial system processes millions of transactions every day so it is vital for your firm to ‘know your customer’. Good customer due diligence collates all information about your customers to assess the extent of any risk they pose to the firm.
Effective KYC or CDD doesn’t simply mean taking a copy of a passport to prove identity. CDD checks include analysing the customer lifecycle from onboarding through to recognising key changes over time and undertaking regular reviews.
Understanding your customer makes great business sense as you respond to their needs, but it is also a hugely effective tool in anti money laundering, to prevent terrorist financiers and other criminals from exploiting your organisation and the wider financial system.
Help you understand the core areas of business.
Role levels: New Entrant/Operations
Help you apply your knowledge to better analyse situations.
Role levels: Analyst /Manager
