The LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training is designed for professionals looking to expand their knowledge and expertise in the fight against financial crime. As global regulations become stricter, understanding and implementing effective anti-money laundering (AML) practices is essential for businesses in the financial sector.
This diploma equips you with the skills and insights necessary to ensure compliance with AML laws, improve customer verification processes, and safeguard your organization from the risks of money laundering. Whether you’re working in compliance, risk management, or financial services, this course will enhance your ability to effectively detect, prevent, and report illicit activities within your organization.
The LICQual Level 2 Diploma in Anti-Money Laundering and Customer Verification Training covers a comprehensive range of topics essential for building a strong foundation in AML practices and customer verification. The curriculum is designed to help you understand the critical principles of anti-money laundering, including customer due diligence (CDD), Know Your Customer (KYC) processes, and suspicious activity reporting. You’ll also explore international AML regulations, best practices, and the latest compliance standards to ensure your business is up-to-date with global AML requirements.
Throughout the course, you’ll gain practical knowledge on identifying and mitigating financial crime risks, creating robust compliance programs, and developing effective customer verification systems. By the end of the program, you will be well-equipped to implement and manage AML strategies that protect your organization from financial crime and maintain regulatory compliance. Whether you’re advancing your career or looking to transition into a compliance-focused role, this diploma is a key step toward mastering AML and customer verification practices.
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.