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.
3-month internship* with placement assistance will be provided in Wealth Management area under Wealth Management Services (WMS). (Possible job roles include: Product manager, corporate broker, product manager, operations assistant manager, client servicing agent; with estimated starting salary range of Rs. 15-22.5 K per month). *@ extra discounted cost of Rs.5500/-
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
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., Customer research – Suspicious transactions.
Yes placement assistance will be provided
REMOTE PROCTORED MODE Remote proctoring allows candidates to take an examination at a location of his/her choice while ensuring the integrity of the examination. These systems require students to confirm their identity, and, during the examination, the system monitors students through video, mic, etc. looking for behavior that could indicate unfair practices (cheating). Examinations are conducted over internet using a Desktop/Laptop. Taking examination using any other device is not permitted e.g. mobile, tabs, etc.
Anti-Money Laundering & Know Your Customer
Minimum marks for pass in the subject is 60 out of 100.
(i) Question Paper will contain 120 objective type multiple choice questions for 100 marks.
(ii) The examination will be held in Online Mode with remote proctoring only.
(iii) There will NOT be negative marking for wrong answers.
Examination will be conducted in English only.
The duration of the examination will be of 2 hours.
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.
5:30 PM to 7:00 PM