The LICQual Level 2 Certificate in Anti-Money Laundering and Customer Verification Training is an advanced qualification designed to provide a deeper understanding of anti-money laundering (AML) procedures and customer verification practices. In an era where financial crimes are becoming increasingly sophisticated, this course equips professionals with the skills and knowledge needed to effectively combat money laundering risks and ensure robust customer identity verification.
Tailored for those working in regulated industries such as banking, finance, and insurance, this course offers an essential framework for maintaining compliance and protecting organizations from financial crimes.
The LICQual Level 2 Certificate in Anti-Money Laundering and Customer Verification Training delves deeper into the principles and practices of AML compliance. This course explores the intricacies of detecting suspicious financial activities, assessing risks, and implementing effective measures to prevent money laundering. Learners will also gain expertise in customer due diligence (CDD) procedures, understanding the importance of verifying customer identities and maintaining accurate records.
Key topics covered in the training include AML regulations and frameworks, risk management strategies, identification of high-risk customers, and the creation of effective policies for compliance. In addition, the course emphasizes the importance of internal controls, reporting obligations, and the roles of professionals in identifying and reporting suspicious activities.
Upon completion, students will be well-prepared to take on more advanced roles in compliance and risk management, making them invaluable assets to any organization committed to preventing financial crimes. The LICQual Level 2 Certificate in Anti-Money Laundering and Customer Verification Training serves as a critical stepping stone for individuals seeking career advancement in AML, compliance, or regulatory roles within various industries.
Course Overview
Qualification Title
LICQual Level 2 Certificate in Anti-Money Laundering and Customer Verification Training
Total Units
6
Total Credits
18
GLH
72
Qualification #
LICQ2200320
Qualification Specification
To enrol in the LICQual Level 2 Certificate in Anti-Money Laundering and Customer Verification Training, candidates must meet the following entry requirements:
- Educational Requirements: A minimum of a high school diploma (or equivalent) is required. While prior qualifications in finance or law are not mandatory, a basic understanding of financial systems or compliance is beneficial.
- Experience: It is recommended that candidates have some prior experience or knowledge of anti-money laundering (AML) or customer verification processes. This course is ideal for those who have completed an introductory AML course or those currently working in financial services, banking, or compliance-related roles.
- English Language Proficiency: Proficiency in English is required to ensure comprehension of course materials, participation in discussions, and completion of assessments. Candidates should have at least an intermediate level of English (B2 or higher) to fully engage with the content.
- Age Requirement: Candidates must be at least 18 years of age at the time of enrolment.
|
Qualification# |
Unit Title |
Credits |
GLH |
|---|---|---|---|
|
LICQ2200320-1 |
Advanced Anti-Money Laundering Frameworks |
3 |
12 |
|
LICQ2200320-2 |
Detailed Customer Due Diligence (CDD) and KYC Practices |
3 |
12 |
|
LICQ2200320-3 |
Risk-Based Approach to Money Laundering |
3 |
12 |
|
LICQ2200320-4 |
AML Compliance Program Development |
3 |
12 |
|
LICQ2200320-5 |
Monitoring and Reporting Suspicious Activity |
3 |
12 |
|
LICQ2200320-6 |
International AML Standards and Best Practices |
3 |
12 |
By the end of this course, learners will be able to:
Advanced Anti-Money Laundering Frameworks:
- Understand and apply advanced anti-money laundering (AML) frameworks to identify and mitigate financial crime risks.
- Design and implement AML strategies in alignment with regulatory requirements.
- Analyze and assess the effectiveness of AML frameworks in different organizational settings.
Detailed Customer Due Diligence (CDD) and KYC Practices:
- Conduct detailed customer due diligence (CDD) processes, including the application of Know Your Customer (KYC) procedures.
- Assess customer risk profiles and apply enhanced due diligence (EDD) measures for high-risk customers.
- Implement effective identity verification and screening processes to ensure compliance with regulatory standards.
Risk-Based Approach to Money Laundering:
- Apply a risk-based approach to anti-money laundering practices by identifying and assessing risks associated with different customer types and transactions.
- Develop strategies to address and mitigate high-risk scenarios.
- Prioritize resources and compliance efforts based on risk assessment outcomes.
AML Compliance Program Development:
- Develop comprehensive AML compliance programs tailored to meet regulatory requirements and organizational needs.
- Understand the components of an effective AML program, including internal policies, training, and monitoring mechanisms.
- Establish robust systems for continuous program evaluation and improvement.
Monitoring and Reporting Suspicious Activity:
- Implement systems to monitor transactions and behaviors for signs of suspicious activity.
- Recognize red flags and trigger points that necessitate further investigation or reporting.
- Prepare and file Suspicious Activity Reports (SARs) and maintain proper documentation for compliance purposes.
International AML Standards and Best Practices:
- Understand and apply international anti-money laundering standards, such as those set by the Financial Action Task Force (FATF).
- Evaluate best practices in AML compliance adopted globally and apply them to local regulations.
- Ensure that your organization’s AML efforts align with international frameworks and emerging trends in financial crime prevention.
This diploma is ideal for:
- Professionals working in compliance, financial services, banking, and other regulated industries who want to deepen their knowledge of anti-money laundering (AML) practices.
- Individuals responsible for ensuring compliance with financial regulations and managing AML risks within their organizations.
- Compliance officers and managers seeking to enhance their ability to implement and monitor effective AML programs.
- Those working in customer verification, due diligence, or risk management roles looking to gain specialized knowledge in AML frameworks and customer KYC practices.
- Professionals looking to advance their career in the growing field of financial crime prevention.
- Those who have completed introductory AML courses and are seeking to further their expertise with a more in-depth, practical understanding of AML compliance and reporting.
- Managers and directors who need to oversee AML processes and ensure their organizations stay compliant with both local and international AML standards.
- Individuals aiming to move into higher-level roles within AML, financial compliance, or risk management.
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.
