Customer Due Diligence (CDD), or KYC (Know Your Customer) as it is often referred to internationally, is the cornerstone of the AML/CFT legislation. Simply stated, the more you know about your client and how they operate, the more likely it is you will be able to readily identify when something doesn’t add up. This session looks at the timing of CDD, and discusses how you can incorporate this into your practice’s operating procedures, as well as the three types of due diligence.
- Understand better what the AML/CFT legislation requires of reporting entities in respect of their customer due diligence, the three types of due diligence (simplified, standard, enhanced), when each is triggered and what is required.
- Gain insights into the types of forms, processes and checks you will need to develop to meet your obligations for both on-boarding and on-going customer CDD.
- Learn more about the Identity Verification Code of Practice, the option of electronic verification and automated electronic systems and how the requirements of the Code can be met through these, as well as accessing PEP (Politically Exposed Person) and sanctions watch lists.
Who should view?
Given the scope of the legislation, this On Demand seminar is relevant to almost all lawyers in practice but it will be of particular importance to senior partners, practice managers and AML Compliance Officers who will be responsible for the development of the policies and processes required to comply with the Act.
Access details will be delivered via email within 15 minutes.
Also in this series
The AML/CFT Toolkit Series: (1)
The Role of the Compliance Officer
The AML/CFT Toolkit Series: (2)
Barrister and Solicitor
AML Solutions Limited
Fiona Hall, who recently spoke at the AML Solutions AML/CFT Summit in Auckland, is a barrister and solicitor specialising in AML/CFT, consumer credit and privacy law. After her admission to the bar in 1987, Fiona initially practised general commercial litigation and banking law at large law firms in both Auckland and London, before moving in-house. Her in-house counsel roles covered a number of credit and credit related businesses as well as for a government regulator.
Fiona has acted as the head of compliance and both privacy and AML officer in conjunction with her legal roles. She has developed and implemented a number of AML/CFT programmes and was an invited speaker at the annual NZ Police FIU AML/CFT conference in 2015.
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