The LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training is an advanced qualification designed to enhance your expertise in combating money laundering and ensuring effective customer verification processes. As financial crime continues to evolve, businesses and financial institutions must stay ahead of the latest regulatory standards to protect themselves and their clients.
This diploma offers an in-depth understanding of anti-money laundering (AML) principles, risk management strategies, and customer due diligence (CDD). Whether you are working in banking, finance, insurance, or any regulated industry, this qualification will prepare you to manage AML compliance effectively and safeguard your organization against potential threats.
The LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training provides comprehensive knowledge of anti-money laundering regulations and customer verification procedures. This course covers critical areas such as identifying and mitigating money laundering risks, assessing customer backgrounds, and implementing CDD measures to prevent fraud and financial crimes. Learners will explore real-world applications of AML strategies, learn to detect suspicious transactions, and understand their legal obligations for reporting suspicious activity.
In addition to AML fundamentals, the course dives into practical customer verification techniques, including Know Your Customer (KYC) protocols, risk assessment methodologies, and compliance with global standards. Through detailed case studies and practical exercises, students will gain the confidence to identify high-risk situations and implement appropriate solutions.
Upon completion, graduates will be fully equipped to take on roles in compliance, risk management, or anti-money laundering departments across industries such as banking, finance, and insurance. The LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training is an essential qualification for professionals seeking to advance their careers and ensure their organization remains compliant with the latest regulatory requirements.
Course Overview
Qualification Title
LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training
Total Units
6
Total Credits
36
GLH
120
Qualification #
LICQ2200323
Qualification Specification
To enrol in the LICQual Level 2 Diploma 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 qualification is required. While no specific academic background is mandatory, a basic understanding of financial systems or business practices is beneficial.
- Experience: Some prior knowledge of or experience in anti-money laundering (AML), compliance, or customer verification is recommended but not mandatory. Candidates with experience in financial services, banking, or customer-facing roles may find the course content more accessible.
- English Language Proficiency: Proficiency in English is essential, as all course materials, discussions, and assessments are conducted in English. Candidates should have at least an intermediate level of English proficiency (B1 or higher) to fully engage with the content and complete assignments effectively.
- Age Requirement: Candidates must be at least 18 years of age at the time of enrolment.
|
Qualification# |
Unit Title |
Credits |
GLH |
|---|---|---|---|
|
LICQ2200323-1 |
International and National AML Frameworks |
6 |
20 |
|
LICQ2200323-2 |
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) |
6 |
20 |
|
LICQ2200323-3 |
Investigating Money Laundering and Financial Crime |
6 |
20 |
|
LICQ2200323-4 |
Developing Anti-Money Laundering Policies |
6 |
20 |
|
LICQ2200323-5 |
Risk Assessment and Control in AML |
6 |
20 |
|
LICQ2200323-6 |
Managing AML Compliance and Auditing |
6 |
20 |
By the end of this course, learners will be able to:
International and National AML Frameworks:
- Understand the key components of both international and national anti-money laundering (AML) frameworks.
- Evaluate the role of global organizations, such as the Financial Action Task Force (FATF), in shaping AML laws and regulations.
- Apply international AML standards to local compliance programs and stay updated on evolving regulatory requirements.
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD):
- Implement effective Customer Due Diligence (CDD) processes to assess customer risk profiles and ensure regulatory compliance.
- Understand and apply Enhanced Due Diligence (EDD) measures for high-risk customers, including Politically Exposed Persons (PEPs).
- Develop a comprehensive understanding of the KYC (Know Your Customer) process and its importance in preventing financial crime.
Investigating Money Laundering and Financial Crime:
- Identify and investigate potential money laundering activities using appropriate techniques and red flags.
- Develop skills to conduct in-depth investigations into suspicious activities and compile evidence for reporting purposes.
- Understand how to prepare and submit Suspicious Activity Reports (SARs) and follow regulatory procedures.
Developing Anti-Money Laundering Policies:
- Design and implement effective AML policies that align with both international regulations and the unique needs of an organization.
- Ensure that policies address key risk areas, such as customer verification, monitoring, and reporting.
- Promote a culture of compliance within the organization through clear and actionable AML policies.
Risk Assessment and Control in AML:
- Conduct comprehensive risk assessments to identify potential vulnerabilities to money laundering and financial crime.
- Develop strategies to mitigate AML risks and implement effective internal controls to prevent illicit activities.
- Monitor and evaluate the effectiveness of AML risk management controls within the organization.
Managing AML Compliance and Auditing:
- Understand how to manage AML compliance programs and ensure that all regulatory requirements are met.
- Conduct internal audits of AML programs to assess their effectiveness and identify areas for improvement.
- Develop and implement an AML compliance framework that ensures ongoing adherence to legal and regulatory standards.
This diploma is ideal for:
- Professionals working in compliance, risk management, or financial services who want to deepen their understanding of anti-money laundering (AML) practices.
- Compliance officers, customer verification specialists, or financial analysts looking to enhance their skills in AML and financial crime prevention.
- Individuals responsible for implementing or overseeing AML policies and procedures within organizations.
- Employees in banking, insurance, or other regulated industries aiming to formalize and expand their knowledge of AML regulations and customer due diligence (CDD).
- Those involved in investigating suspicious financial activities or preparing reports such as Suspicious Activity Reports (SARs).
- Professionals seeking to advance in the field of AML compliance or transition into roles focused on financial crime prevention.
- Anyone looking to build a solid foundation in AML, improve their risk assessment skills, and develop effective strategies for combating money laundering.
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.
