Know your Customer
Anti Money Laundering / Anti-Terror Financing
With increasing focus on anti-money laundering and anti-terrorism, all banks are required to comply with internationally established 'Know Your Customer' guidelines. The BIS stipulates that 'banks must have adequate controls and procedures in place so that they know the customers with whom they are dealing. Adequate due diligence on new and existing customers is a key part of these controls. Without this due diligence, banks can become subject to reputational, operational, legal and concentration risks, which can result in significant financial cost'.
The purpose of the course is to ensure delegates have a full understanding of anti-money laundering (AML), CDD, and the prevention of financial fraud.