Financial Compliance

KYC - Know Your Customer (FC002)

We’ve all seen heists in the movies and on TV. A car full of bad guys show up at a bank, break in, then drive away with bags full of swag. But with the expanding global economy and a new reliance on internet transactions, it’s getting harder and harder to know who the bad guys are.

KYC, or Know Your Customer, standards exist to protect financial institutions and consumers from money laundering, terrorist financing, corruption, and fraud. Thorough KYC processes are essential for compliance and risk management in financial organizations. As the global economy grows, there are huge benefits to KYC systems, but also challenges. This course will give you a good overview.

By the end of this course, you’ll be able to:

• Recognize the benefits of KYC
• Identify the challenges of KYC and cryptocurrency
• Demonstrate compliance through the KYC 3-step framework

Why take this course?

Everyone working in financial organizations needs to know who their customers are. KYC standards help prevent identity theft, money laundering, financial fraud, terrorism, and other financial crimes. With effective KYC processes, you can protect yourself, your customers, and your firm. In this course, you’ll learn about the benefits and challenges of KYC. You’ll also learn about compliance through the KYC 3-step framework.

10 mins | SCORM | Takeaway Tasks

  • KYC - Know Your Customer
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: 3 years