Certificate course in AML/KYC

Sector:

BFSI

A brief note about the course:

Banks have set up specialized departments to attend to functions like credit card business, housing loans, vehicle loans, trade finance, consumer loans etc. Of late some of the banks have floated subsidiaries to take up these functions. Though banks offer some training to their staff to impart essential knowledge to handle these portfolios as per their requirements, there is a need for an educational programme considering the vast area of knowledge essential for such activities. Compliance with ‘Know Your Customer’ guidelines and ‘Anti-Money Laundering’ standards has become necessary for healthy financial relationships both by the banks/ financial institutions in India. The course aims to provide a comprehensive coverage of the various guidelines/ standards/ guidance notes issued by RBI/ IBA/ International bodies etc. Objective of the course is to provide advanced knowledge and understanding in AML/ KYC standards and to develop the professional competence of employees of banks and financial institutions.

Syllabus:-

Anti-Money Laundering Money Laundering - Origin - Definition - Techniques Impact on Banks -Structuring; Integration, Preventive Legislations - International Co-operation - UK; USA; India - Basel Committee - PMLA Objectives - RBI Guidelines – System Adequacy to Combat Money Laundering - Antiterrorism finance - Financial Intelligence Unit (FIU) The Financial Action Task Force (FATF) - IBA Working Group - Software for AML Screening: Money Laundering and Correspondent Banking - Exchange Companies – Foreign Branches
Know Your Customer - Introduction and overview Customer Profile - KYC Policies - Countries Deficient in KYC Policies, Initiatives by the RBI - Organized Financial Crimes Customer - Definition under the KYC Principles - Transaction Profile - Organizational Structure - Important KYC framework in RBI prescriptions - Operating Guidelines. Introduction of new accounts - Guidelines for Opening Accounts of Companies, Trusts, Firms, Intermediaries etc., Client Accounts opened by Professional Intermediaries - Trust/ Nominee or Fiduciary Accounts - Accounts of Politically Exposed Persons (PEPs) Residing Outside India, Accounts of ‘non-face-to-face’ Customers - Qualitative data - Joint accounts - Minor accounts - KYC for existing accounts - KYC for low income group customers. Monitoring Accounts - Customer research - Suspicious transactions.

Detailed Syllabus

PASSING CRITERIA:

Minimum marks for pass in the subject is 60 out of 100.

Date of Class Commencement:

01 October 2021

Eligibility:

Graduate in any discipline (students currently in the final year of graduation can also join)

Course Duration:

36 hours (over a period of 3 months)

Course Fees:

Training fees as 1st instalment – Rs.3870/- (including GST)
Examination fees as 2nd instalment – Rs. 1600/- (excluding GST)

Key recruiters:

EY, State Street, Amazon, Genpact India, PhonePe, 2COMS, WhiteHorse Manpower, Valde Tech, Synechron, Revolut

Average Annual Salary:

3.5 lakh per annum

Next Batch starts on:

20 September 2021

Certification:

Indian Institute of Banking and Finance (IIBF)

Career Options:

AML Specialist/Associate, Financial Crime Operations Delivery Lead, AML Compliance Analyst, KYC Analyst, Money laundering reporting officer. Most of them are employed with private money lending organisations or with nationalised banks. Larger firms in the world of consulting, technology and manufacturing also requires these AML/KYC officers.

Course highlights:

Upon entry you will likely have accepted a position of specialist, analyst, or investigator. Your work will likely entail research and analysis tasks associated with conducting investigations and/or due diligence. You may draft short summaries that are consumed internally or you may produce detailed BSA records that are filed with the Financial Crimes Enforcement Network (FinCEN), such as a Suspicious Activity Report (SAR) or Currency Transaction Report (CTR). The tasks and activities you complete are measured through the lens of management’s productivity and quality standards. The environment, unfortunately, revolves around production and deadlines. The production aspect of the work is grueling and often thought of as mundane. However, you will likely at some point be exposed to a significant matter – one that in scale could have impact at a national security level.

General Details about IIBF examinations APPLY HERE