Introduction to KYC-AML
The Focus on ML
Get to know why the fous on Money Laundering is required and how world-wide financial institutions are ML focussed
The Ills that are the focus of KYC-AML
The reasons for the focus on ML and the ill-effects of ML to the economy and society is dealt with in this session
The Role of Money
Get to know about how money plays role in Money Laundering
An Industry wide Effort
Find out what efforts are being made in the Financial institution industry to avoid money laundering
The process of ML
Money laundering is usually well planned. Find out the process of money laundering
The Law on KYC-AML
Get to know about the laws on KYC_AML
Home and Host
ML usually occurs across borders. In order to understand how ML happens between countries it is important to know about the Home and Host concept
Implications for banks
ML has severe implications on Banks. Find out the implications of ML on Banks.
ML is best taken care of by a sound KYC. Learn about the processes and core elements involved in KYC.
CoB in KYC-AML context
Establish the link between Client On Boarding and KYC-AML measures.
Client Background information
The fist step in the KYC is the Client background information. This helps us to know the complete details of the client.
Getting the Name Right
Verification of the name is the first step in CIP. Get to
Understanding Entity Types
It is important to understand the Entity types and the nature of business to understand the transactions of any enterprise. Understanding Entity is an important part of KYC.
Notable additional information adds to the general information about the customer and comes handy during implementation of AML measures
Let us understand why Due diligence is important and what steps are involved in due diligence
Simplified & Enhanced Due Diligence
Some set of customers require simplified due diligence while others require enhanced due diligence. This module helps us understand when and how SDD and EDD is done
Customer Acceptance Policy
The second core element of KYC is Customer Acceptance Policy. Let us understand how this is done
Transaction Patterns inML
It is important to know the transaction patterns of the customer as monitoring the accounts is a part of KYC
Sweep Accounts and ML
Let us get to know what sweep accounts are and how are they connected to AML
Technology in AML solution
This module helps us understand how technology helps AML.