Professional Refresher

Know Your Customer (KYC)
Refreshed August 2022 | CPD time: 1.75
Know your customer (KYC) is the process by which a firm gains sufficient knowledge of a customer to meet its regulatory obligations. This module provides an overview of the KYC process. While some of the specific examples are drawn from the UK, the main content of the module reflects international standards and best practice (in particular, the recommendations issued by the Financial Action Task Force (FATF)), and it outlines the principal elements of the KYC process, while recognising that most firms will have their own internal policies which will set out the specific steps that must be undertaken.
1. Introduction and Approach
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2. The Need for KYC
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3. The Principal Elements of KYC
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4. The Challenges of KYC
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Module Test
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