Know Your Client (KYC) Training

Lysis Academy provides comprehensive KYC training to our new recruits with a range of accredited courses. These enable them to develop the knowledge and techniques to process a KYC case effectively, ensuring that they can slot straight into a KYC remediation or client on-boarding team.

Lysis Academy also operates as a bespoke training service for our customers, including corporate and investment banks, asset managers and hedge funds. We provide in-house training programmes to enable your teams to develop their KYC remediation skills and knowledge to a high industry standard.

We also provide in-house Executive courses. Our Executive courses provide a framework to assess and influence the success of a regulatory programme or operation, and will equip senior managers with the tools to steer their firm’s initiatives towards success.

Lysis Academy offers training in the following formats:

Full course – three-month intensive training for those new to KYC and banking operations.
Conversion course – two-week course for experienced banking operations personnel.
Executive course – one-day course summarising key requirements and processes.

Both our Full and Conversion courses end with a written exam.

Bespoke courses of different lengths can also be provided.

KYC Training Content

Module 1 – What is KYC?
Regulatory environment, enforcement, trends.
Summary of UK legislation.
Money laundering, terrorist financing and sanctions.
Money Laundering Regulations – obligations and the risk-based approach.
Customer Due Diligence – different stages and customer risk-ranking.

Module 2 – Legal Entities Types
A review of all legal entity types prevalent in financial services – from regulated financial services firms to funds and individuals.
ML/TF risk for each entity and how to conduct KYC.

Module 3 – Funds and SPVs
Detailed review and analysis of Funds, Collective Investment Schemes and SPVs.
Identifying relevant parties.
ML/TF risk for each entity and how to conduct KYC.

Module 4 – Enhanced Due Diligence
JMLSG guidelines for conducting Enhanced Due Diligence.
High risk clients – specifically correspondent banking and PEPs.
Establishing beneficial ownership.
Source of wealth; source of funds.
Verification of identity.
Monitoring – obligations and best practice.

Module 5 – Escalations and Suspicious Transactions
Reporting obligations under Proceeds of Crime Act.
Recognising suspicious transactions.

Module 6 – Risk and Procedures
This client-specific module focuses on a firm’s own procedures – for example on risk calculations, internal processes for conducting KYC and escalating higher risk entities, individual responsibilities.