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KYC and AML – Suitable for all firms with AML responsibilities


The UK is one of the world’s largest and most open economies, whose strength is based on substantial and productive relationships around the world. Government Ministers have the responsibility for national security and financial services, so they want the UK to remain to be an appealing country for legitimate business and a leading global financial centre. But they also recognise that the UK’s openness and position as a global financial centre exposes it to the risk of illicit financial flows and the need for Know Your Customer and Anti-Money Laundering (KYC and AML) is key to their longer term success.

Money laundering and terrorist financing are important threats. Recent terrorist attacks in London, Manchester and elsewhere highlight the value of the fight to deprive terrorists of the resources they need. Serious and organised crime has been estimated to cost the UK tens of billions of pounds yearly. That is why we must continue to squeeze out dirty money, strengthening the UK’s security and prosperity as well as that of our partners overseas.

What makes Our Course Different?

  • We have been delivering KYC training for over 12 years and are proud to have been chosen by some of the world’s leading banks.
  • Your course director is an expert on the subject, has over 30years’ experience in the industry and has delivered highly successful programmes to financial services firms at all levels; from small partnerships, to medium sized firms and global giants
  • The course is packed full of interesting points and actual case studies making it highly engaging and very relevant
  • Our feedback from past delegates has always been excellent

Objectivesaml template fca mlr2017

  • Understand fully the requirements of MLR2017
  • Understand that good enough, seldom is
  • Appreciate that this is mandatory, not optional
  • Recognise the importance of a risk assessment
  • Recognise the critical role of a risk based approach
  • Be able to put in place a framework meet the regulatory requirements fully
  • Recognise that AML is a holistic process and needs to be embedded into culture and form part of doing business as usual
  • Recognise and be able to deal with the challenges of implementing an effective system


  • Introduction – What is Money Laundering
  • Placement, Layering, Integration
  • How does this work in practice
  • The scale of the problem

Establishing a KYC framework

  • What should instittions have in place
  • Money Laundering Regulations 2017
  • Changes
  • General risk assessment
  • Risk mitigation policies
  • Level of due diligence
  • Reliance on third parties
  • PEPs
  • New Criminal Offence
  • Office for Professional Body Anti-Money Laundering Supervision (OPBAS)

What is KYC & CDD

  • Initial Risk Assessmnet
  • Risk based approach & Methodology
  • Risk driven controls
  • Material triggers
  • The customer lifecycle

The CDD process smcr project plan regulation buy now how do

  • KYC – getting to know the customer
  • IDV – checking what they say
  • SDD? Is it really viable?
  • EDD – more comprehensive client knowlede and due diligence
  • Ultimate Beneficial Ownership
  • Source of Wealth
  • Source of Funds
  • Regular review process

Remediation process – introducing new rules and requirements for the first time

  • How  Should CDD or EDD be applied
  • Using a risk based approach onlyl
  • How do we allocate the risk category
  • A typical Risk Assessment Methodology
  • Using the RAM in practice
  • The three plus two lines of defence model

Who needs to be subjected to KYC?

  • Onboarding and Review procedures
  • Using technology – a must for large volumes
  • Swim lines
  • Expetion report and alerts
  • The role of the second line of defence
  • The role of internal audit

Essential Elements of KYC Standards

  • Clear and user friendly procedures and guidelines
  • Customer acceptance policy
  • Customer identification policy
  • Guidelines for opening accounts
  • KYC for existing accounts – called “remediation” and needs to be managed well

Politically Exposed Persons

  • Definition – formal
  • Definition in practice
  • Why are they a special case
  • Mandatory high risk
  • UBO issues
  • Source of Wealth issues
  • Annual Review issues

Specific Identification & Verification Issues

  • Trust nominee and fiduciary accounts
  • Corporate vehicles
  • Complex Structures
  • Introduced business
  • Client accounts opened by professional intermediaries
  • Non face to face customers
  • Offshore accounts

Constructing the KYC Framework

  • Policies
  • Roles and Responsibilities
  • Senior Management and M.I. requirements
  • The MLRO (or equivalent) challenge!
  • Risk Assessments and Procedures

Implementing and Managing the Total KYC

  • Escalation
  • SAR’s & Whistleblowing
  • Due diligence (on-going)
  • Record keeping
  • Training
  • Monitoring
  • Reporting

Challenges with KYC & How To Control It

  • Staff & Client resistance
  • Embedding as part of the culture
  • Prevention & detection
  • Early warning systems
  • Controls, KPI & KRI

Course Summary, Open Forum, Close

Background of the Trainer

Course Director

Lee has worked with a range of organisations from smal start-ups through to FTSE100 companies, including foreign banks and institutions, many that have had difficulties identifying and managing compliance risk, and helped them develop effective, robust systems. He has adapted his experience to develop this course and supporting materials with the practical skills based focus. Lee’s skills, qualifications and experience make him ideal for supporting anyone wishing to develop top-class knowledge in the management of Anti-Money Laundering and Counter Terrorist Financing.

Course Summary

This is a highly interactive, user friendly and comprehensive workshop for both banks and other regulated institutions and practitioners alike. It covers the KYC procedures and systems that all regulated institutions must have in place and deals with the full range of clients from straightforward retail, to higher risk clients (including PEPs) and clients who use complex structures.

Who Should Attend

  1. Financial Institutions regulated by the FCA including those falling under EMI, PSD and MIFID.
  2. Anyone who onboards new clients for financial transactions as described under the MLR 2017.
  3. Anyone with an interest in the subject especially “Relevant persons” under the UK MLR 2017, i.e. Estate Agents etc, as below
  • Where previously only holders of a casino operating licence were covered by the regulations, they now pertain to all gambling providers
  • Trustees now have greater obligations in relation to revealing the beneficiaries of trusts
  • Those engaging in financial activity on ‘an occasional or very limited basis’ are not covered by the regulations. ‘Occasional or very limited’ is defined as:
    • annual turnover from financial activity of less than £100,000 (this figure was previously £64,000)
    • activity limited to transactions not exceeding EUR 1000 per customer
    • financial activity ancillary to a larger business
    • financial activity not more than 5% of the total turnover of the larger business
    • financial activity only offered to customers of the main business
Knowledge Pre-requisites
None required
from £250 pp – Minimum 5 persons


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