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The Certification Program in Risk Based Approach to AML & KYC provides the understanding to the new and senior level management of financial institution with the risk associated in AML &KYC Domain.
Globalisation and the establishment of common market resulted in expansion of business.That reached beyond the national borders that allows the goods and services. As a part of expanding in the compliance community, Indiaforensic sets in motion to start anew chapter related to AML &KYC certification. Hence, the Certification Program in Risk Based Approach to AML & KYC has set a global standard in the AML and compliance domain.
Professional judgement is complyimg to the AML legislation. Money launderers are always painstakingly scrambling to find new “outlets” for black money. In the Risk based approach to AML & KYC, banks are required to identify and analyse the changes that are taking place in the black money in order to find different methods to combat money laundering. Therefore, keeping everything in mind the bank should integrate and develop the risk-based control ideas, mechanism, different requirements associated with it.
Certification Program in Risk Based Approach to AML & KYC
Since, the Risk Based Approach to AML & KYC is regarded as one of the milestones for Indiaforensic. The concept of Risk Based Money Laundering was first implemented in 2007 by Financial Action Task Force. Further updated in 2012. Risk Management is the concept which is central to the effective AML control.
“FATF Recoomend to apply risk-based approach on several levels”.Firstly, the countries shall develop the national risk assessment structure. They shall combat money laundering and CTF. Earlier the financial institutions were not serious of collecting the basic information from the customers. Banks starts identifying the high-risk customers such as credit rating, business operation, money management etc.”.
Accurately judging the risk level of customer money laundering is an important prerequisite for the “risk-based” approach. Banks need to conduct due diligence.Business operations, industries, customer characteristics and regions are conducted. In order to obtain adequate, complete and truthful customer information as the basis of analyses.
Understanding the RBML Certification
The Risk Based Approach to AML & KYC aspirants will have an understanding of different procedures and strategies to access and validate the risk associated while doing the AML investigation. It will also help the aspirants to analyse the red flags easily.
Indiaforensic one of the crucial certification is the RBML certifictaion. It helps the aspirants to get the knoledge of AML and compliance sector. The Supervisory authorities will understand the red flags of the criminal hidden activities that are taking place.
As a part of accreditation process, Indiaforensic will provide the aspirants with the E-learning content, mock test. The examination would be a MCQ pattern test.
About Indiaforensic
C.A Mayur Joshi founded Indiaforensic in 2005. It is a Pune-based training and educational organization engaged in fraud examination, security, risk, management and forensic accounting in India. Riskpro Management Consulting Private Limited owns a brand named Indiaforensic since 2008. It started with 1 Certification and today catering 2 Flagship Professional Certifications, 3 Specialisations and 5 E-learning Certifications. Therefore, Indiaforensic is the pioneer in the field of forensic accounting, well connected and networked with the industry. Visit www.indiaforensic.com for more information.