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CKYCA Certified Know Your Customer Associate Exam Prep Guide by Udemy
Video Guide of the CKYCA Exam Notes and Material
Course Highlights
- Learning the knowledge to pass the CKYCA exam
- Learning various knowledge from ACAMS exam
- Learn the key points and skills for a KYC program
- Learn the key points and skills for Anti Money Laundering
Skills you will learn!
Curriculum
121 Topics
KYC is intended to manage risk.
Who is your customer?
Definition of a customer
Types of customer in financial services
Types of risk: Regulatory legal financial reputational
Regulations related to KYC
Customer risk and red flags
Politically exposed person risk and red flags
Shell company risk and red flags
Jurisdiction risk and red flags
Product risk and red flags
Product risk and red flags (Case example)
Channel risk and red flags
Risk-based approach to business
Controlling risk
Residual risk equation
Risk-based approach to KYC (initial and ongoing)
Following organization-specific policies and procedures
Four research steps
Duty to report
Tipping off
Assess: To ask plan and prepare
Three lines of defense
Who reads the KYC customer profile and why?
Data security and privacy
Levels of due diligence
Customer identification process for a natural person
Customer identification process for a legal person
Documentary verification: Primary and secondary
Non-documentary verification: Primary and secondary
Beneficial ownership
Beneficial ownership: Legal arrangements
Beneficial ownership: Vs control
Beneficial ownership: How to research
CDD for a natural person
CDD for a natural person (Case example)
CDD for a PEP (Case example)
CDD for a legal person
CDD for a shell company (Case example)
Risk-based escalation Part 1
Risk-based escalation Part 2
EDD for a natural person Part 1
EDD For a natural person Part 2
EDD for a natural person (Case example)
EDD for a legal person
EDD for a legal person (Case example)
How much research is reasonably enough?
Explore (to investigate search and interview)
Criteria for selecting standard customer research sources
Sources especially useful for enhanced customer research
Internet search
Internet search: Techniques and taxonomies
Internet search (Case example)
Internet search: Sanctions screening
Internet search: Proprietary databases
Internet search: Adverse media checks
Conducting personal interviews
Conducting site visits
Documenting your research
Data security and privacy (Reminder)
Organize (to gather align collect and clarify)
Filter what customer information is relevant and important
Risk-rating by applying your institution's policies and tools
Present (to document persuade and defend)
Who reads the KYC customer profile and why? (Reminder)
Customer profile structure and format
Risk-based escalation (Accept / Reject)
Transaction monitoring and ongoing reviews
KYC is intended to manage risk
Know your jurisdictions
Categories of risk: Customer jurisdiction product channel
Dual citizenship / dual residency risk and red flags
Private banking risk and red flags
Trade finance risk and red flags
MSB risk and red flags
Correspondent banking risk and red flags
Designated non-financial businesses and professions risk and red flags
Third-party payment processor risk and red flags
FinTech risk and red flags
Trusts risk and red flags
Shell company risk and red flags
Shell company: Legal legitimate purposes
Shell company: Common characteristics
Nawaz Sharif (Case example)
Russian Laundromat (Case example)
Odebrecht Group Brazil (Case example)
Beneficial ownership
Ultimate beneficial ownership
Beneficial ownership: How to calculate - complex aggregate
Identifying source of wealth
Internet search: False positives
Name match: Mistaken identity (Case example)
Criteria for selecting standard customer research sources
Sources especially useful for enhanced customer research
Internet search: Protecting the privacy of the organization
Internet search: Government corporate registry online databases
Internet search: Government online publications
Internet search: Non-government online sources
Internet search: Social media and online presence
Internet search: Unbiased and skeptical
Filter what customer information is relevant and important
Politically exposed person risk and red flags
Anti-bribery and corruption
State-owned enterprise risk and red flags
Embassy risk and red flags
Gatekeeper risk and red flags
Charity / NGO risk and red flags
Tax avoidance vs tax evasion
Tax avoidance vs tax evasion: Jurisdiction risk
Tax avoidance vs tax evasion: Panama Papers (Case example)
Duty to report
Dual controls
Independence of the second line
Role of MLRO
Refusing to onboard a customer
Risk-based approach to KYC (initial and ongoing)
Transaction monitoring and ongoing reviews
Ongoing due diligence
The review cycle
Ongoing due diligence: Volume and deposit patterns have changed (Case example)
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CKYCA Certified Know Your Customer Associate Exam Prep Guide
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