Know Your Customer (KYC): Customer knowledge and due diligence
Target group:
- Money Laundering Officer and Compliance Manager
- KYC analysts and AML specialists
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Program:
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“KYC: Customer Due Diligence” – Benefit from more efficient processes and an improved customer experience through in-depth KYC knowledge.
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“Money Laundering Act: Updates and New EU Regulations” – Get a head start with up-to-date knowledge of the latest legal changes and EU-wide compliance requirements.
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The S+P Tool Box:
- Presentations as PDF: For quick reference and refresh of the seminar content.
- KYC Toolkit: You will receive the S+P Onboarding Excel Tool, which you can use to carry out efficient and well-founded KYC checks.
- Techniques for determining the Ultimate Beneficial Owner: You will learn how to effectively identify the true beneficial owner of a contractual partner in order to uncover possible interdependencies.
- Enhanced Due Diligence (EDD) Audit Techniques: The S+P Toolkits help you to meet the requirements for the Source of Funds Audit in accordance with Section 15 AMLA and to correctly assess suspicious transactions.
- Putting AMLD 6 into practice: The practical recommendations will help you effectively integrate the new requirements into your money laundering prevention strategies and ensure compliance.
S+P Case Studies:
Case Study 1: Identification of a Hidden Owner
Benefits: Through this case study, you’ll learn how to uncover hidden owners of a legal entity to identify and prevent potential risks of money laundering and fraud.
Case Study 2: Suspicious Money Flows in a Customer Account
Benefit: In this case study, you will learn how to identify suspicious money flows in a customer account and react appropriately to detect and report possible money laundering activities at an early stage.
Case Study 3: Due Diligence for International Clients
Benefits: This case study shows you how to conduct comprehensive due diligence for international clients to ensure compliance with KYC due diligence obligations and minimize potential risks in cross-border business.
Program
Do you want to learn how to create a smooth and enjoyable customer journey that fully complies with KYC obligations at the same time? Our seminar offers you the answers.
In this seminar, you will learn how to implement effective KYC processes that not only meet regulatory requirements, but also optimize the customer experience. We’ll show you methods on how to collect and process customer data without putting a strain on the customer relationship – an art that’s especially essential for customer touchpoints.
In this context, the consideration of ESG risks is also becoming increasingly important. You will learn how to integrate ESG criteria into KYC due diligence and UBO determination in order to identify and manage financial, environmental and ethical risks at an early stage.
You will gain valuable insights into how a well-thought-out design of the customer journey and compliance with KYC regulations go hand in hand. Through our training, you will become an expert in finding the balance between customer satisfaction and regulatory compliance – a decisive competitive advantage in today’s business world.
KYC: Customer Due Diligence
Ownership and control structure of the contractual partner
- UBO: Techniques for determining the Ultimate Beneficial Owner
- Legal entities and other companies
- Multi-level participation structures (AFCA recommendations)
- Foundations with legal capacity and similar legal arrangements
Perfect your customer journey with expert know-how in customer due diligence
- Collection of information for the purpose of identification
- Verification of this information for the purpose of identification
- Monitoring and screening: selection and filtering of suspicious transactions
Consider ESG risks: Integrate ESG criteria into KYC due diligence and UBO determination to ensure that financial, environmental and ethical risks are identified and managed at an early stage.
Deepen your knowledge of enhanced due diligence in accordance with § 15 GwG:
- ‘Source of Funds’: Learn how to analyse the client’s professional activities that serve as sources of income (e.g. salaries, business income) and how to check the transfer methods (e.g. bank transfers, electronic payments).
- Source of Wealth: Acquire skills to determine the origin of a client’s total wealth.
Your benefit: With S+P’s techniques, KYC is made easy – gain in-depth insights into the identification of ownership and control structures, increase the transparency of your business relationships and minimize legal risks.
Money Laundering Act: Updates and new EU regulations
Techniques for researching the contractual partner and the beneficial owner:
- Real Estate Transaction – Share Deals and Nested Corporate Structures
- Know Your Customer – for international customer relationships
- Adverse Media and SIP Testing (Wolfsberg Group Recommendations)
- Investment business – AIFMs, brokers and banks
- Syndicated loan business
- Trade Finance and Transaction Monitoring
6. Anti-Money Laundering Directive (AMLD 6) creates a Single EU Rulebook for AML/CFT
- EU-wide AML rules: AMLD 6 standardises anti-money laundering measures in the EU through a common set of rules.
- Tougher penalties: The directive tightens the penalties for money laundering and specifies the offences.
- More due diligence: AMLD 6 expands the identification obligations of beneficial owners and promotes official cooperation.
Your benefit: Stay up to date with the latest legal requirements and thus secure a decisive advantage in compliance with compliance regulations.
KYC: Customer Due Diligence – Become a Pro in KYC Check
The aim of the seminar is to provide you with a comprehensive knowledge of KYC customer due diligence and how to determine the ownership and control structure of contractors. You will learn how to identify the Ultimate Beneficial Owner (UBO) and how to deal with multi-level participation structures, foundations with legal capacity and similar legal structures.
Through practice-oriented expert know-how, you will perfect your customer journey and minimize legal risks.
With the seminar you will learn:
KYC: Customer Due Diligence:
- Identify and review the ownership and control structure of the contractor.
- Techniques for determining the Ultimate Beneficial Owner (UBO) for legal entities and other companies.
- Dealing with multi-level participation structures, foundations with legal capacity and similar legal structures.
Perfect your customer journey with expert know-how in customer due diligence:
- Collection and verification of information for the purpose of identification.
- Monitoring and screening for the selection and filtering of suspicious transactions.
- Deepen your knowledge of enhanced due diligence in accordance with Section 15 AMLA, including the analysis of the origin of a client’s funds and assets.
Techniques for researching the contractual partner and the beneficial owner:
- Dealing with real estate transactions, share deals and nested company constructions.
- Know Your Customer (KYC) for international customer interdependencies and conducting adverse media and SIP checks in accordance with Wolfsberg Group recommendations.
- Applying KYC practices in the investment business, syndicated lending business and trade finance.
Money Laundering Act: Updates and new EU regulations:
- The 6th Anti-Money Laundering Directive (AMLD 6) and the Single EU Rulebook for AML/CFT.
- Tougher penalties and more precise offences for money laundering.
- Extended identification obligations of beneficial owners and promotion of official cooperation.
Your benefit:
With S+P’s techniques, KYC is made easy – you gain in-depth insights into the identification of ownership and control structures, increase the transparency of your business relationships and minimize legal risks.
In addition, you will stay up to date with the latest legal requirements and thus secure a decisive advantage in compliance with compliance regulations.
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FAQ – What do I need to know?
The S+P seminars for money laundering officers offer practical training courses that are tailored to the current legal requirements and best practices in money laundering prevention. Highly qualified instructors impart specialised knowledge through interactive learning methods. Participants also benefit from the opportunity to network and exchange ideas with other specialists.
The seminars cover the key tasks and responsibilities of money laundering officers, including the identification and reporting of suspicious activities. Other topics include the latest legal requirements and their integration into existing compliance programmes. A special focus is placed on the implementation of customer due diligence (CDD) and the continuous monitoring of business relationships.
- C-level decision-makers: Managing directors and key executives who not only implement anti-money laundering measures, but also set the standard for compliance and integrity.
- Anti-money laundering officers and compliance managers who want to deepen their expertise in anti-money laundering and develop their career to C-level.
Registration for our S+P seminars is quick and easy via our website. There you will find all the necessary information and can reserve your place directly.
The S+P Tool Box is a comprehensive set of practical tools and templates that have been specially developed for participants in our seminars. It offers helpful resources for implementing the techniques learnt and supports you in applying the seminar knowledge directly in your company.
How to effectively identify the Ultimate Beneficial Owner (UBO)?
The identification of the UBO is carried out through a detailed review of the ownership and control structure of the contractual partner. This includes the analysis of multi-level shareholding structures, legal documents and public registers. In the seminar, you will learn how to efficiently collect and verify this information to ensure transparency.
What are the techniques for verifying and validating customer information as part of KYC?
Effective KYC practices include the collection and validation of customer information through official documents, adverse media research, and SIP checks (sanctions, Interpol, and PEP lists). In the seminar, you will learn how to use these techniques to ensure the accuracy and completeness of customer information.
What changes with AMLD 6?
The new anti-money laundering regulation expands the list of obligated entities to include crypto service providers and traders of luxury goods, such as precious metals and jewels. They must now comply with strict due diligence obligations and report suspicious activity. An EU-wide cap on cash payments of €10,000 has been set to make money laundering more difficult. Obliged entities must apply enhanced due diligence measures when doing business with high-risk third countries.
