The Client Due Diligence Process

Course Summary

Designed for participants wishing to learn about the requirements of Client Due Diligence and how to implement a process.

Introduction

This workshop addresses the regulatory requirements for undertaking due diligence on clients at all levels. Participants will learn about the information and documentation required and how to risk rate clients using a risk based approach in accordance with the Guernsey regulatory requirements.

Topics

• AML/CFT – what is it and what is its importance
• The regulatory requirements and a risk based approach
• How to evidence due diligence undertaken
• Politically exposed persons and high risk categories
• The requirements for simplified and enhanced due diligence
• The role of the MLRO
• Barriers and how to overcome them

Course Benefits

After attending the course, participants will:

Understand the regulatory requirements relating to AML/CFT

Be aware of the importance of reviewing and evidencing due diligence

Have gained a greater understanding of a "risk-based approach"

Be able to implement a process to undertake client due diligence