Know Your Customer - KYC Essentials for Financial Services

Introduction

This new virtual classroom seminar will examine the key considerations and action points needed when regulated financial services firms conduct Know Your Customer (‘KYC’) on their clients.

It will provide an update on the FCA’s approach, practical tips and guidance on the KYC process and will touch upon how the new Consumer Duty has impacted financial services institutions.

Viewers will also hear about the SWIFT KYC Registry, its function and importance and how it is delivering blockchain interoperability.

What You Will Learn

This live and interactive session will cover the following:

• What are the FCA’s KYC requirements for regulated entities?
• The differences between KYC and AML
• The importance and function of risk assessments - why and how?
• The importance of creating and maintaining internal policies and procedures
• The mandatory requirement to conduct customer due diligence and the difference between standard due diligence and enhanced due diligence - how do we determine which is applicable?
• KYC Registries - SWIFT and blockchain interoperability
• Importance of the sanctions list and how it should be approached
• Money laundering officer and audits of employees
• The importance of regular training and development for employees
• The impact of the new Consumer Duty

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.