As part of its expanding toolkit for the compliance community, ACAMS has launched its first-ever know your customer (KYC) certification for early career professionals and their supervisors. The Certified Know Your Customer Associate (CKYCA) program sets a new global standard for KYC compliance staff involved in analysis, onboarding, anti-money laundering prevention and other related roles, providing recipients the core competencies required to perform KYC/customer due diligence (CDD) including enhanced due diligence (EDD) duties for higher risk customers with minimal supervision and experience.
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“The importance of knowing your customer can’t be understated” – ACAMS launches its first-ever KYC certification for the compliance community.
CKYCA applicants will learn procedures and strategies to assess and validate customer data, identify ultimate beneficial owners (UBOs) and associated third parties, screen for matches from sanctions lists and media reports, analyze managed assets and red flags for risk assessment purposes and create customer profiles that account for privacy requirements and future audits, among other skills.
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“In the fight against financial crime, the importance of knowing your customer can’t be understated,” said Angela Salter, ACAMS interim president. “That’s why we’re proud to launch a certification program that, when coupled with approximately nine months of KYC/CDD experience, will allow compliance staff to perform the critical duties needed to protect their institutions from illicit actors.”
“The CKYCA program is a crucial piece of the ACAMS mission to equip our members with everything they need to excel in the anti-money laundering and anti-financial crime compliance sector. Whether you’re a junior KYC analyst or a team lead, this program will help you identify source of wealth and flag potential criminal activity hidden behind opaque and complex structures.”
