Enhancing AML Compliance: Risk Based Approach and Client Due Diligence

The objective of the seminar is to provide participants with a deep understanding of these crucial concepts and their practical implementation. The seminar aims to equip individuals with the knowledge and skills necessary to effectively assess and manage money laundering and terrorist financing risks through robust customer identification, verification, and risk assessment measures.

1. Understand CDD Requirements: The seminar seeks to familiarize participants with the regulatory requirements and best practices related to Customer Due Diligence (CDD). It aims to provide a comprehensive understanding of the various elements of CDD, including customer identification, verification, and ongoing monitoring.
2. Implement Risk-Based Approach: A key objective of the seminar is to educate participants about the Risk-Based Approach (RBA) and its importance in mitigating money laundering and terrorist financing risks. It aims to enable individuals to assess the risk levels associated with different customers, products, services, and geographic locations, and develop risk-based controls and procedures accordingly.
3. Enhance CDD Processes: The seminar aims to enhance participants’ knowledge of effective CDD processes and methodologies. It provides practical guidance on conducting thorough customer risk assessments, gathering and analyzing customer information, and determining the appropriate level of due diligence based on risk profiles.

By achieving these objectives, the AML seminar on CDD and the Risk-Based Approach aims to empower participants with the knowledge and skills necessary to develop and implement robust CDD processes, mitigate money laundering and terrorist financing risks, and comply with regulatory requirements.