Certification in Risk Based Approach to KYC and AML is a program designed for the senior management level employees of the financial institutions. The concept of risk-based Anti Money Laundering (RBML) was first implemented in 2007 by the Financial Action Task Force and further codified in its 2012 update. The International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation is also known as the ‘FATF Recommendations’. RBML, is shifting the focus of AML management from judgmental post-analysis to proactive management. Risk Management is the concept which is central to the effective AML control.
Risk Based Money Laundering
The FATF Recommendations require the risk-based approach to be applied on several levels. Firstly, countries should develop a national risk assessment structure to combat money laundering and terrorist financing risks in the jurisdiction. Secondly at the financial institution level. Previously, financial institutions were not serious about collecting information about their customers. They collected information about customers such as credit rating, business operations and money management etc. but these customers only accounted for a small fraction of their clients.
In-spite of this, Supervisory authorities imposed heavy penalties on financial institutions for the failure to deal with the identified risk. This vulnerability to deal with money laundering, however lead to identification of level of risk for all the customers. Banks started identifying the high risk customers. Hence, this course emphasize more on the high risk customers.
Course Syllabus
Syllabus for the Certification in Risk Based Approach to KYC and AML is designed carefully to address the needs of the compliance professionals working in the KYC domain. Effective implementation of the the guidelines issued by the FATF requires the banks to assess and understand the risk associated with the customers. Customer Due Diligence also known as CDD is the Basis of AML Management.
The curriculum of Certification in KYC and RBML is divided into various sessions listed below
Foreign PEP and Corruption
Overview of PEP
KYC vs. AML
Real Estate Money Laundering
What are the Sanctions ?
Business sectors considered as High Risk
Classification of Heightened Risk Entities
What are heightened risk entities ?
Due Diligence and its importance
Stages in Risk Management
How does Risk Based AML Work?
What is Risk Based Approach to Combat Money Laundering
KYC Course Background
Registration
As soon as your payment is received, you need to go to visit Profile page created for every member to make sure that all your admissions and certifications are reflected correctly. Once the registration is completed then you can also visit the course page to kick-start your e-learning journey with Indiaforensic.
Rajinder Singh –
Risk Based Anti Money Laundering is the next generation compliance approach proposed by Financial Action Task Force (FATF). This course is helpful to a great extent in understanding the different concepts in Money Laundering such as Politically Exposed Persons.
Rajesh Kenchi –
This certification is one of the best and affordable one in the market. Indiaforensic is the oldest body that developed courses on these subjects. Kudos to Indiaforensic. KYC and AML go hand in hand. The course addresses the the subject without leaving anything behind. Wonderful job IF.
Vijaya Mahale –
Enrolling in this certification course has proven to be highly beneficial. It offers a comprehensive perspective on the risks involved in money laundering, providing a 30-degree overview. My main objective for registering for this course was to acquire a thorough understanding of Anti Money Laundering and Know Your Customer practices. This certification specifically caters to the need of compliance professionals operating in AML and KYC domains. It effectively addresses their requirements by offering in-depth knowledge and insights into these crucial areas. This certification has proven to be a valuable resource in enhancing my expertise in AML and KYC compliance.
MOHAMMAD AHMAD –
The certification course is designed with a strong theoretical foundation, placing significant emphasis on the risks related to the Anti-Money laundering domain. This certification is widely recognized as the go-to certification. It focuses on the AML and KYC that equips professionals with the necessary skills to excel in their roles.