The LICQual Level 1 Diploma in Anti-Money Laundering and Customer Verification Training is the ideal starting point for anyone looking to build a career in financial crime prevention. As money laundering and fraudulent activities continue to threaten the integrity of financial institutions globally, this course provides a comprehensive foundation in anti-money laundering (AML) practices and customer verification.
Whether you’re new to the field or looking to formalize your existing knowledge, this diploma will equip you with the essential skills to detect and prevent illicit activities in the financial services sector. Gain a strong understanding of the legal frameworks, customer due diligence (CDD) procedures, and compliance requirements that are crucial in maintaining financial security.
The LICQual Level 1 Diploma in Anti-Money Laundering and Customer Verification Training offers an accessible yet thorough introduction to the core principles of AML and customer verification. Over the course of this diploma, you will explore key topics such as money laundering techniques, customer due diligence processes, and the importance of Know Your Customer (KYC) compliance.
You will also develop a solid understanding of the legal and regulatory frameworks that govern AML practices, ensuring that you are well-equipped to manage compliance and risk in a financial environment.
Designed for beginners or those seeking to formalize their expertise, this training offers practical insights into everyday AML operations, helping you understand how to implement effective customer verification and reporting procedures.
By the end of the course, you will be ready to contribute to a secure and compliant organization, making a meaningful impact in the fight against money laundering and financial crime. Enhance your career prospects and gain a recognized qualification with the LICQual Level 1 Diploma in Anti-Money Laundering and Customer Verification Training.
Course Overview
Qualification Title
LICQual Level 1 Diploma in Anti-Money Laundering and Customer Verification Training
Total Units
6
Total Credits
24
GLH
60
Qualification #
LICQ2200322
Qualification Specification
To enrol in the LICQual Level 1 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. No prior experience or qualifications in financial services or compliance are necessary, making this course suitable for beginners or those looking to switch careers.
- Experience: No prior experience in anti-money laundering (AML) or customer verification is needed. This diploma is designed for individuals with little to no experience in the field, as well as those seeking to formalize and enhance their knowledge.
- English Language Proficiency:Proficiency in English is essential, as all course materials, assessments, and discussions are conducted in English. Candidates should have an intermediate level of English proficiency (B1 or higher) to understand the course content, participate in activities, 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 |
|---|---|---|---|
|
LICQ2200322-1 |
Introduction to Money Laundering and Financial Crime |
4 |
10 |
|
LICQ2200322-2 |
Customer Identification and Verification (CDD & KYC) |
4 |
10 |
|
LICQ2200322-3 |
Understanding the Financial Crime Risks |
4 |
10 |
|
LICQ2200322-4 |
Reporting and Record Keeping in AML |
4 |
10 |
|
LICQ2200322-5 |
Identifying Suspicious Transactions |
4 |
10 |
|
LICQ2200322-6 |
International AML Laws and Practices |
4 |
10 |
By the end of this course, learners will be able to:
- Introduction to Money Laundering and Financial Crime:
- Understand the definition and stages of money laundering, including placement, layering, and integration.
- Recognize the different types of financial crimes and their impact on businesses and financial systems.
- Identify the importance of anti-money laundering (AML) efforts in maintaining the integrity of financial institutions.
- Customer Identification and Verification (CDD & KYC):
- Apply Customer Due Diligence (CDD) and Know Your Customer (KYC) processes to verify customer identities and assess risk profiles.
- Implement the necessary steps for collecting, validating, and documenting customer information to ensure regulatory compliance.
- Understand the role of KYC in preventing money laundering and the need for ongoing monitoring of customers.
- Understanding the Financial Crime Risks:
- Analyze the different financial crime risks businesses face and how to identify potential threats.
- Understand the factors that contribute to financial crime and how these risks can be mitigated through appropriate controls and procedures.
- Assess the risk of money laundering activities in various financial sectors and determine suitable responses.
- Reporting and Record Keeping in AML:
- Comprehend the importance of accurate record-keeping and timely reporting of suspicious activities to the relevant authorities.
- Understand the legal obligations related to the retention of AML records and the processes for submitting Suspicious Activity Reports (SARs).
- Apply best practices for ensuring compliance with reporting and record-keeping regulations in financial transactions.
- Identifying Suspicious Transactions:
- Recognize red flags and indicators of suspicious transactions that could signal potential money laundering activities.
- Develop the skills to assess transaction patterns and behaviors that may require further investigation or reporting.
- Understand the role of businesses in monitoring and escalating suspicious activities to prevent financial crimes.
- International AML Laws and Practices:
- Gain an understanding of international anti-money laundering laws and the global standards set by regulatory bodies such as the Financial Action Task Force (FATF).
- Apply international best practices in AML to local compliance efforts.
- Recognize the importance of adhering to international AML guidelines and how global cooperation helps in combating financial crimes.
This diploma is ideal for:
- Individuals starting their career in compliance, anti-money laundering (AML), or financial crime prevention who want to build a solid foundation in AML practices.
- Professionals working in banking, finance, insurance, or related industries looking to formalize their knowledge of AML and customer verification processes.
- Compliance officers or staff members responsible for ensuring regulatory compliance and implementing AML practices within their organizations.
- Employees in roles related to customer service, risk management, or fraud detection who want to gain a deeper understanding of AML regulations and customer due diligence (CDD).
- Those new to the financial services industry seeking to develop skills in financial crime prevention and enhance their career prospects.
- Individuals looking to transition into a compliance-focused role and gain a recognized qualification in anti-money laundering and customer verification.
- Anyone interested in learning the basics of AML regulations, KYC procedures, and the importance of reporting suspicious activity.
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.