This training is designed to help participants understand how money laundering is perpetrated and how governments and anti-money laundering (AML) laws operate to counteract this crime. It also highlights the roles and responsibilities of the AMLC and covered persons in facing the threat of money laundering. Professional accountants, compliance officers, and other individuals in covered institutions such as banks, stock brokerages, casinos, and pawnshops will greatly benefit from this course.

In this lesson, participants should gain a firm grasp on the various Customer Due Diligence Measures, as well as vital areas of a Money Laundering and Terrorism Prevention Program, such as customer risk profiling, assessment, and recordkeeping.

Course curriculum

  • 1

    TEST YOUR KNOWLEDGE

    • TEST YOUR KNOWLEDGE

  • 2

    Handouts

    • Handouts - Anti-Money Laundering Series - Lesson 4

  • 3

    MODULE OVERVIEW

    • MODULE OVERVIEW

  • 4

    Customer Due Diligence and the Customer Identification Process (CIP)

    • CDD Purpose, Measures and Procedures

    • First Measure: Customer Identification Process (CIP)

  • 5

    SECTION REVIEW: Customer Due Diligence and the Customer Identification Process (CIP)

    • SECTION REVIEW: Customer Due Diligence and the Customer Identification Process (CIP)

  • 6

    Customer Due Diligence Measures

    • Second Measure: Customer Verification Process (CVP)

    • Third Measure: Identification and Verification of Agents (IVA)

    • Fourth Measure: Beneficial Ownership Verification (BOV)

    • 5th and 6th Measure - Determination of the Purpose of Relationship (DPR) and Ongoing Monitoring Process (OMP)

  • 7

    SECTION REVIEW: Customer Due Diligence Measures

    • SECTION REVIEW: Customer Due Diligence Measures

  • 8

    Customer Risk Profiling, Assessment and Recordkeeping

    • Customer Risk Profiling and Assessment

    • Recordkeeping

    • Characteristics of Businesses

  • 9

    SECTION REVIEW: Customer Risk Profiling, Assessment and Recordkeeping

    • SECTION REVIEW: Customer Risk Profiling, Assessment and Recordkeeping

  • 10

    Suspicious Circumstances

    • Suspicious Circumstances

  • 11

    SECTION REVIEW: Suspicious Circumstances

    • SECTION REVIEW: Suspicious Circumstances

  • 12

    EXERCISES

    • List of Scenarios

    • Scenario 1

    • Scenario 1 - Questions

    • Scenario 2

    • Scenario 2 - Questions

    • Scenario 3

    • Scenario 3 - Questions

  • 13

    CASE STUDY

    • CASE STUDY

    • CASE STUDY - Questions

  • 14

    Quiz: Anti-Money Laundering Series – Lesson 4

    • Quiz: Anti-Money Laundering Series – Lesson 4

  • 15

    Evaluation Form

    • Evaluation Form - Introduction to Anti-Money Laundering - Lesson 4