Welcome to the LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification, the perfect starting point for anyone looking to build a solid foundation in financial crime prevention. In today’s fast-paced financial environment, organizations face growing risks from money laundering and fraudulent activities.
This course is designed to equip you with the essential knowledge and skills to identify and prevent money laundering, as well as to effectively verify customers in line with industry regulations. Whether you are looking to start a career in compliance, financial services, or enhance your current skill set, this certificate offers practical insights into combating financial crime.
With clear, straightforward content, the LICQual Level 1 Certificate introduces you to the world of anti-money laundering (AML) and customer verification, making it accessible even for beginners. This certification provides you with the tools to understand the key regulatory frameworks, customer due diligence processes, and the importance of suspicious activity reporting, empowering you to contribute to the security and integrity of your organization.
The LICQual Level 1 Certificate in Anti-Money Laundering and Customer Verification is designed to offer a comprehensive introduction to the core concepts of AML and customer verification. Over the duration of the course, you’ll gain an understanding of the key regulations governing AML, including customer due diligence (CDD) procedures and recognizing suspicious activity. You will also learn the importance of maintaining accurate records and reporting as part of an effective AML strategy.
This course provides practical, real-world knowledge that can be applied immediately, whether you’re entering the field of financial services, compliance, or seeking to upgrade your skills. By the end of the program, you will have gained essential expertise in preventing financial crime and performing critical customer verification tasks, setting you up for further growth in the field of financial crime prevention.
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.