Course Description
Money laundering and terrorist financing occurs all around the world. No country is immune. These threats can be minimized by using Know Your Customer. You will learn what exactly is meant by Know Your Customer and how to implement it in your organization. Some countries require organizations in specific industries to have a Know Your Customer Program. This program is designed to help organizations minimize the risks posed by money laundering and terrorist financing. You will gain an understanding of the parts that make up a Know Your Customer Program and what due diligence is. Part of a Know Your Customer program is the Customer Identification Program. This involves verifying a customer’s identification. By watching this course, you will learn how this program works and when it should be used. You will learn different techniques used to verify a customer’s identification as well as how long some information should be retained.
Learning Objectives
- Understand what Know Your Customer is
- Learn how to implement a Customer Identification Program
Skills You Will Learn
- Customer Analysis
- Customer Development
- Customer Profiling
- Customer Marketing
- Customer Risk
- Know Your Customer
What You'll Learn
- Understand what Know Your Customer means and how to implement it in your organization
- Identify the parts that make up a Know Your Customer Program and what due diligence is
- Implement a Customer Identification Program to verify a customer's identification
- Apply different techniques used to verify a customer's identification
- Determine how long certain customer information should be retained
- Recognize when a Customer Identification Program should be used
Key Takeaways
- Money laundering and terrorist financing occur around the world, and no country is immune to these threats.
- A Know Your Customer Program is designed to help organizations minimize the risks posed by money laundering and terrorist financing.
- Some countries require organizations in specific industries to have a Know Your Customer Program.
- The Customer Identification Program is part of a Know Your Customer program and involves verifying a customer's identification.
- Verifying a customer's identification involves different techniques, and some information should be retained for a certain length of time.
Frequently Asked Questions
What will I learn in this course?
You will learn what Know Your Customer means and how to implement it in your organization, the parts that make up a Know Your Customer Program, what due diligence is, and how to implement a Customer Identification Program to verify a customer's identification.
What is a Know Your Customer Program for?
A Know Your Customer Program is designed to help organizations minimize the risks posed by money laundering and terrorist financing. Some countries require organizations in specific industries to have one.
What does the Customer Identification Program cover?
The Customer Identification Program is part of a Know Your Customer program and involves verifying a customer's identification. The course covers how this program works, when it should be used, different techniques used to verify identification, and how long some information should be retained.
What topics does the course include?
The course includes two lessons: Know Your Customer and Customer Identification Program.
