The LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification is a foundational qualification designed for individuals who want to gain essential knowledge and skills in the prevention of money laundering and the verification of customer identities. In today’s financial and business environment, understanding anti-money laundering (AML) regulations and procedures is crucial for maintaining compliance and protecting organizations from financial crimes. This course provides learners with an introduction to the key concepts of AML, customer due diligence (CDD), and the importance of effective verification processes.
The LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification covers essential topics that are critical for anyone working in industries such as banking, finance, insurance, or any sector requiring strict adherence to regulatory standards. This course introduces learners to the principles of money laundering, the various techniques used to launder money, and the legal framework designed to prevent such activities.
Additionally, students will learn about customer verification processes, risk assessment, and the role of professionals in preventing fraud and protecting organizations from reputational damage. Key areas of study include the identification of suspicious activity, compliance with AML laws, and the steps required to verify and authenticate customer identities effectively.
By the end of the course, learners will have the confidence to implement AML procedures, conduct customer verification, and contribute to a secure and compliant work environment. This qualification provides a solid foundation for those pursuing a career in compliance, finance, or legal sectors where AML knowledge is vital, making it an essential step toward career advancement in these industries.
Course Overview
Qualification Title
LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification
Total Units
6
Total Credits
12
GLH
36
Qualification #
LICQ2200319
Qualification Specification
To enrol in the LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification, candidates must meet the following entry requirements:
- Educational Requirements: A minimum of a high school diploma or equivalent is required. No prior qualifications in finance or compliance are needed, making this course suitable for beginners.
- Experience: No prior work experience in anti-money laundering or customer verification is necessary. However, any basic understanding of financial services, business, or legal environments would be advantageous for learners.
- English Language Proficiency: Proficiency in English is required, as course materials and assessments are conducted in English. Candidates should have at least an intermediate level of English proficiency (B1 or higher) to understand course content, engage in discussions, and complete written assignments effectively.
- Age Requirement: Candidates must be at least 18 years of age at the time of enrolment.
|
Qualification# |
Unit Title |
Credits |
GLH |
|---|---|---|---|
|
LICQ2200319-1 |
Introduction to Anti-Money Laundering (AML) |
2 |
6 |
|
LICQ2200319-2 |
Key Regulations and Legislation for AML |
2 |
6 |
|
LICQ2200319-3 |
Understanding Money Laundering Techniques |
2 |
6 |
|
LICQ2200319-4 |
Customer Due Diligence (CDD) and Verification |
2 |
6 |
|
LICQ2200319-5 |
Recognizing Suspicious Activity |
2 |
6 |
|
LICQ2200319-6 |
AML Reporting and Record Keeping |
2 |
6 |
By the end of this course, learners will be able to:
Introduction to Anti-Money Laundering (AML):
- Understand the concept of money laundering and the importance of AML in maintaining financial integrity.
- Describe the stages of the money laundering process and the risks associated with it.
- Identify the role of financial institutions and businesses in preventing money laundering activities.
Key Regulations and Legislation for AML:
- Demonstrate knowledge of the key regulations and legislation governing anti-money laundering efforts, including local and international frameworks.
- Understand the legal obligations of businesses and individuals under AML laws and how they are enforced.
- Explain the penalties for non-compliance with AML regulations.
Understanding Money Laundering Techniques:
- Identify various methods and techniques used for money laundering, such as layering, integration, and placement.
- Understand the red flags and signs associated with different types of money laundering activities.
- Develop a basic understanding of how money laundering impacts businesses and the broader financial system.
Customer Due Diligence (CDD) and Verification:
- Describe the process of conducting customer due diligence (CDD) and the importance of verifying customer identities.
- Understand the different levels of CDD, including standard and enhanced due diligence, based on risk factors.
- Recognize the importance of ongoing customer monitoring to ensure compliance with AML regulations.
Recognizing Suspicious Activity:
- Learn how to identify suspicious activities that may indicate money laundering or other financial crimes.
- Understand the indicators of suspicious behavior that should prompt further investigation or reporting.
- Apply basic knowledge to assess potential risks in customer transactions and interactions.
AML Reporting and Record Keeping:
- Understand the importance of reporting suspicious activities to the relevant authorities in a timely manner.
- Learn the best practices for maintaining accurate and up-to-date records in line with AML requirements.
- Explain the role of financial institutions in reporting to authorities and how records should be stored securely for compliance purposes.
This diploma is ideal for:
- Individuals looking to start a career in financial services, compliance, or anti-money laundering.
- Beginners who want to gain foundational knowledge of money laundering techniques, AML regulations, and customer verification processes.
- Professionals working in sectors such as banking, insurance, or financial institutions who want to enhance their understanding of AML compliance.
- Anyone interested in pursuing a role in customer due diligence (CDD), compliance, or financial crime prevention.
- Those seeking to develop a deeper understanding of AML legislation, reporting procedures, and record-keeping best practices.
- Business owners or managers in industries that require compliance with AML regulations, such as legal, accounting, or real estate sectors.
- Individuals interested in gaining a recognized qualification to advance their career in anti-money laundering and compliance.
Assessment and Verification
All units within this qualification are subject to internal assessment by the approved centre and external verification by LICQual. The qualification follows a criterion-referenced assessment approach, ensuring that learners meet all specified learning outcomes.
To achieve a ‘Pass’ in any unit, learners must provide valid, sufficient, and authentic evidence demonstrating their attainment of all learning outcomes and compliance with the prescribed assessment criteria. The Assessor is responsible for evaluating the evidence and determining whether the learner has successfully met the required standards.
Assessors must maintain a clear and comprehensive audit trail, documenting the basis for their assessment decisions to ensure transparency, consistency, and compliance with quality assurance requirements.
