KYC That Delivers Value: A Step-By-Step Practical Guide to Obtaining KYC Documentation Based On Customer Typologies

Programme Overview

The flow of dirty money can damage the stability and reputation of the Nigerian financial sector, while terrorist financing can cause wanton destruction of human life and properties. Criminals naturally seek to exploit financial institutions in order to legalise illicitly acquired funds. Terrorist financing may also be conducted through similar means, through other methods or even legally acquired funds may be used to finance terrorist financing.

 

Programme Objective

To provide a robust and comprehensive step-by-step practical guide to obtaining KYC documentation based on customers’ typologies. By the end of the programme each participant will be able to:

  • Understand FATF’s role in KYC/CDD
  • Examine the Nigerian money laundering regime
  • Define KYC, CDD, EDD, PEP, RBA and beneficial owner
  • Gain insight into the acceptable means of identify (documentary evidence of identify) and proof of address (documentary evidence of address)
  • Explore the typology approach to KYC documentation – based on customer type Share and discuss the KYC challenges in practice, including the challenge of address verification
  • Appreciate the objective of financial inclusion and the role of tiered KYC

Programme Coverage

  • Overview of the FATF customer due diligence (CDD) regime
  • Overview of the Nigerian Anti-Money Laundering (AML) regime
  • KYC, CDD, EDD, PEP definitions
  • What does a beneficial owner mean?
  • What is the risk-based approach (RBA)
  • Documentary evidence of identity and proof of address
  • The typology approach to KYC documentation
  • Role plays
  • Group and individual exercises
  • Sample templates for discussion

Who Should Attend?

  • Front-line and customer facing employees of financial institutions and DNFBPs
  • Client engagement employees
  • Relationship managers
  • Customer support employees
  • Members of the KYC and customer on- boarding team
  • Members of the KYC review team
  • Cluster Compliance Officers
  • Heads of Compliance functions
  • Compliance Officers
  • AML Officers
  • Internal Control Officers
  • Internal Auditors
  • Financial institutions’ regulators

 

Duration: 1 day (In-house/In-plant only)

Date: As agreed with our client

Programme fee: As negotiated

Key benefits: Improved KYC and CDD skills, programme materials and certificate of participation