KYC means Know Your Customer and is a standard due diligence process used by financial institutions and other financial services companies to assess and monitor customer risk and verify a customer’s identity. KYC ensures that a customer is who they say they are.
Anti-Money Laundering (AML) is a set of policies, procedures, and technologies that prevents money laundering. It is implemented within all financial institutions to monitor potentially fraudulent activity.
Compliance with ‘Know Your Customer’ guidelines and ‘Anti-Money Laundering’ standards has become necessary for healthy financial relationships both by the banks / financial institutions in India. The course aims to provide a comprehensive coverage of the various guidelines , standards and guidance notes issued by RBI ,IBA and International bodies.
- What is Money Laundering
- Process & Impact of Money Laundering
- AML KYC Procedures and Customer Due Diligence
- Money Laundering and Correspondent Banking
- International Guidelines and Standards
- Up-to-date skills and knowledge that will help you to become more competent and effective in handling Low ,Medium and high risk accounts
- Understand the Criticality of AML &KYC in compliance and independently handle queries
Course Duration: 40 hours
Qualification: Graduate (Pursuing and completed) and Post Graduates
- Customer service Department are one of the most important teams in Banks ,BFSI and Fintech
- Relationship Manager in Banks &Fintech
- Customer facing roles
- Customer service executives
FAQs
As a rapidly evolving area, KYC-AML offers a broad variety of roles and jobs in the banking and finance sector.
KYC regulations have become an increasingly critical issue for almost any institution that interacts with money (so, just about every business). While banks are required to comply with KYC to limit fraud, they also pass down that requirement to those organizations with whom they do business
There are three major steps in money laundering (placement, layering, and integration), and various controls are put in place to monitor suspicious activity that could be involved in money laundering.
Some anti-money laundering controls include knowing your customers, software filtering, and implementing holding periods
