Understand why the Know Your Client “KYC” must be documented and detailed analysis with plausible information which can be corroborated.
This training explains the key role of the KYC, when onboarding the business relationship and throughout the course of the business relationship. The training first presents each component of the KYC, i.e. the type of information to be collected and the persons under scope. Emphasis is placed on the origin of the funds.
The training continues with the treatment of the information, which must be corroborated and what kind of documents allow the corroboration, which lead to a plausibility analysis of the various components of the information received.
The training ends with a focus on the importance of regular updates of the KYC and its consistency with the transactions carried out by the client.