JST558 Customer Due Diligence (2)

Students will explore the importance of Customer Due Diligence (CDD) in identifying, mitigating, and preventing financial crimes and how it can be applied as a key control to comply with regulatory requirements including monitoring and reporting of suspicious activity. Students will examine the notion of a risk-based approach and understand how to implement various CDD measures to mitigate and manage Money Laundering and Terrorist Financing (ML/TF) risk. The subject will also explore the concept of Enhanced Customer Due Diligence (ECDD) and the role it plays in detecting, disrupting ML/TF

Availability

Micro Session 4 (54)
Online
Canberra Campus

Continuing students should consult the SAL for current offering details: JST558. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

SY/US

Duration

One session

School

Australian Graduate School of Policing and Security

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to examine the role of CDD as a risk-based compliance approach within a AML/CTF Program;
  • be able to apply CDD knowledge and skills to customer identification procedures; and
  • be able to analyse knowledge and skills relating Ongoing Customer Due Diligence (OCDD) and Enhanced Customer Due Diligence (ECDD)

Syllabus

This subject will cover the following topics:
  • The CDD regulatory landscape and fundamentals of a risk-based approach
  • The core components of CDD (Simplified, Ongoing, Enhanced Due Diligence)
  • The implementation of risk based CDD policies, procedures, and processes to identify unusual transactions and behaviour
  • Meeting regulatory expectations and enforcement relating to poor CDD practices

The information contained in the CSU Handbook was accurate at the date of publication: June 2022. The University reserves the right to vary the information at any time without notice.

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