Focus on Client Due Diligence

Course outline and objectives

Gathering information about clients is a practice as old as the 'application form' and serves many purposes - practical, commercial, legal and regulatory. However, it has a special role to play in preventing financial crimes such as money laundering within the regulated sector.

This practical workshop will explore client due diligence from the perspective of those involved in preventing criminal activity within the regulated sector and our clients who are asked to provide information and documents to assist us in doing so. Rather than a detailed, technical analysis of relevant obligations, the emphasis will be very much on considering the practical steps involved in both performing client due diligence and using such due diligence to help prevent (and detect) financial crime.

Who will benefit?

• Anyone who has direct interaction with clients or their transactions
• Anyone responsible for supervising/managing those who have direct interaction with clients or their transactions
• Anyone responsible for implementing procedures and other controls relating to client relationships and transactions
• Anyone responsible for maintaining policies or providing advice and support relating to the prevention of money laundering or broader financial crime
• Individuals in Risk, Compliance and Audit with responsibility for monitoring financial crime prevention activities

The workshop will benefit not only those new to such roles (or looking to move into such roles in the future), but also those seeking to refresh their knowledge or identify potential improvements to controls in their own organisation.

Topics may include, but are not limited to:

• What is CDD and why perform it?
• How to perform CDD
• Using CDD and Risk Assessments
• Transaction Monitoring
• Obligations and legislation