KYC & Customer Due Diligence in Canada

Course 3 of 8 of a StudyAML Canada series. KYC & Customer Due Diligence in Canada gives compliance professionals the practical skills and understanding needed to build trust, detect risk, and meet Canada’s AML/ATF requirements. Learn how to identify your clients, verify their information, and maintain accurate records that stand up to regulatory scrutiny — all through an engaging, principle-based learning experience designed for real-world application.

20 - 25 minutes

Certificate Included

Canada

Description

This self-paced course explores how Know Your Customer (KYC) and Customer Due Diligence (CDD) form the foundation of Canada’s anti–money laundering (AML) and anti–terrorist financing (ATF) framework. You’ll learn how to verify identities, identify beneficial ownership, assess client risk, and maintain accurate records in line with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Through clear examples and practical scenarios, the course helps you build confidence in meeting regulatory expectations and protecting your institution from financial crime.

What will you learn?

Module 1 – Understanding KYC & CDD
Discover how KYC and CDD fit within Canada’s AML/ATF framework. Learn why understanding your clients — who they are and why they transact — is central to maintaining trust and preventing financial crime.
Module 2 – Verifying Identities & Beneficial Ownership
Explore how to confirm client identities and uncover beneficial ownership to ensure transparency. Learn the accepted verification methods under Canadian law and how to handle complex ownership structures.
Module 3 – Managing Higher-Risk Clients & Ongoing Monitoring
Understand how to identify, assess, and monitor higher-risk clients. Apply Enhanced Due Diligence (EDD) measures and ongoing monitoring to detect red flags and strengthen proactive compliance.
Module 4 – Recordkeeping & Best Practices
Learn the recordkeeping requirements under the PCMLTFA and its Regulations. See how strong documentation, secure storage, and consistent review create a resilient compliance program ready for audit or regulatory review.

Course Content

Module 1 – Understanding KYC & CDD
Module 2 – Verifying Identities & Beneficial Ownership
Module 3 – Managing Higher-Risk Clients & Ongoing Monitoring
Module 4 – Recordkeeping & Best Practices