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KYC Compliance Training Course - 5mins AI

KYC Compliance Training Course

Master UK Know Your Customer regulations, Customer Due Diligence, risk classification, and FCA compliance for financial crime prevention

Course Overview

Know Your Customer (KYC) compliance is mandatory under the Money Laundering Regulations 2017, as amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2022. This comprehensive training ensures you understand and can confidently apply KYC procedures in your daily role.

Enforced by the Financial Conduct Authority (FCA), KYC helps prevent money laundering and terrorist financing by ensuring we know exactly who we're dealing with. Learn the essential skills to identify customers, verify beneficial ownership, assess risk, and maintain ongoing monitoring for regulatory compliance.

🎯 Key Learning Outcomes

Customer Identification

Master the four-step KYC process including identification, verification, beneficial ownership, and relationship documentation

Legal Compliance

Understand UK Money Laundering Regulations, FCA requirements, and avoid penalties under Proceeds of Crime Act 2002

Risk Assessment

Classify customers accurately and apply appropriate due diligence levels (SDD, CDD, EDD) based on risk factors

Ongoing Monitoring

Implement effective monitoring systems, recognize suspicious activity, and fulfill reporting obligations to NCA

📋 Course Structure

Module 1: Introduction to KYC & Customer Due Diligence

KYC definition under Money Laundering Regulations 2017
Financial Conduct Authority (FCA) role and enforcement
Customer Due Diligence (CDD) purposes and requirements
Legal implications and non-compliance penalties
Proceeds of Crime Act 2002 consequences
Employee responsibilities for suspicious activity reporting
Key compliance principles and best practices

Module 2: KYC Process & Risk Classification

Four-step KYC process: identification, verification, beneficial ownership, relationship purpose
Required documentation and electronic verification systems
Beneficial ownership verification (25% threshold)
Persons of Significant Control (PSC) register usage
Economic Crime and Corporate Transparency Act 2022 compliance
Risk classification: Low, Medium, High risk categories
Simplified, Standard, and Enhanced Due Diligence procedures
Politically Exposed Persons (PEPs) identification

Module 3: Ongoing Monitoring & KYC Auditing

Continuous monitoring requirements and transaction pattern reviews
Periodic customer profile updates and risk reassessment
Suspicious activity identification and immediate reporting protocols
KYC audit process and key audit questions
Sanctions and PEP database screening (HM Treasury/OFSI)
Suspicious Activity Report (SAR) procedures
Record keeping compliance (5-year retention)
Employee responsibilities during regulatory audits

👥 Role-Based Best Practices for KYC Compliance

Banking and Financial Services Professionals

Customer onboarding and account opening teams
Compliance officers and AML specialists
Risk management professionals
Client relationship managers

Legal and Audit Teams

Legal and audit teams
Regulatory compliance staff
Internal audit personnel

New Employees in Financial Institutions

New employees in financial institutions
Anyone involved in customer due diligence processes

Compliance Testimonials Slider

Why fintech leaders love us

"5Mins.ai provides a readymade solution that allows me to provide tailored, up-to-date training to the entire firm while I build out our compliance function. It's scalable, efficient, and gives me reassurance."

Abdul Gofur

Head of Compliance & Anti-Financial Crime

"With 5Mins, compliance is no longer a box-ticking exercise. Continuous, bite-sized learning keeps employees vigilant while freeing our compliance team to focus on strategy. For fast-scaling fintechs, it's transformative."

Will Mason

Founder & CEO

"The platform doesn't just deliver information — it changes habits through spaced repetition, gamification, and relevance. 5Mins' approach of continuous micro-reinforcements creates a compliance foundation that can withstand scrutiny."

Udayan Goyal

Co-Founder

"Employees actually engage with compliance training voluntarily rather than dreading it."

Ed Lascelles

Partner

Compliance Hero Image

Compliance training your team won't dread

Compliance training and maintaining compliance is critical, but let's be honest, no one really likes doing it.

With 5Mins.ai you can:

Speed up training by 3 - 5x
Save your employees hours
Boost engagement by 6 - 10x
Gamify the full training experience

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KYC Compliance Training - FAQ

Frequently Asked Questions

What will I learn in this KYC course?

You'll learn how to identify and verify customers, spot suspicious activity, and apply a risk-based approach to keep your organisation safe from financial crime.

Who should take this course?

This course is ideal for anyone working in banking, finance, compliance, or customer-facing roles — especially those involved in onboarding or reviewing customer accounts.

Why is KYC important in everyday work?

KYC helps protect businesses and customers by preventing fraud, identity theft, and money laundering. It ensures you truly know who you're dealing with.

How is the course delivered?

The course is delivered through engaging, bite-sized lessons with real-life case studies and interactive examples that make learning practical and easy to apply.

KYC Compliance Training

Fast-track Know Your Customer compliance with bite-sized training.

With 5Mins.ai, KYC Compliance Training rules become snack-sized videos employees watch.

Fully automated tracking eliminates manual follow-ups.
Live dashboards prove compliance in a single click.
Super-short 3–5-minute lessons keep learning efficient.

Ready to Get Started?

Master KYC compliance and protect your organization from financial crime. Join thousands of financial professionals who have strengthened their regulatory compliance capabilities through comprehensive KYC training.

👥 50,000+ Learners • 🚀98% Completion Rate

🏆 Leader in Compliance Training

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