CDD and the Risk-Based Approach
International Compliance Association
Gain a foundational understanding of Know Your Customer (KYC) and Customer Due Diligence (CDD) and why it is crucial. Through this bite-sized course, you will also explore a risk-based approach and how to apply due diligence. Suitable for new entrants in CDD roles, those who wish to learn more about CDD, and anyone whose role involves managing risk in the CDD process.
About this Course
Gain a foundational understanding of Know Your Customer (KYC) and Customer Due Diligence (CDD) and why it is crucial. Through this bite-sized course, you will also explore a risk-based approach and how to apply due diligence. This course is suitable for new entrants in CDD roles, those who wish to learn more about CDD, and anyone whose role involves managing risk in the CDD process. By the end of this course, you will: Understand the key concepts of KYC and CDD, and why it is important Know the regulatory drivers, the key terms and different international perspectives Understand what a risk-based approach is, and what the key risk factors and common red flags are Apply due diligence and understand risk ratings
What You'll Learn
- Key concepts in KYC/CDD
- What is customer due diligence (CDD)?
- Why is CDD important?
- Regulatory drivers: AML, tax, conduct of business
- An overview of key terms
- The international perspective
- What is a risk-based approach?
- Key risk factors and common 'red flags'
- Applying simplified, standard and enhanced due diligence
- Risk rating and acceptance
- Firm-wide risk assessments