Implementing & Managing KYC – A Regulatory Perspective
Implementing & Managing KYC – A Regulatory Perspective
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview


    5 – 6 March 2018


    9:00 AM – 5:00 PM


    Asian Banking School



    CPE Points
    This course will provide participants with an insight into the implementation and management of KYC and what is required under current regulatory and good business practice requirements




    / PAX




    / PAX

    *inclusive of GST
  • Objectives & Outline
    By the end of the programme, participants will be able to have a full understanding of KYC, its importance, its implementation and its management to meet legal and regulatory requirements and expectations
    • Laws, new techniques and recent cases of Money Laundering and Financing of Terrorism 
    • Global compliance issues 
      • International initiatives (including the United Nations, World Bank and IMF, FATF and its regional groups) 
      • The “40 + 9” FATF recommendations (and the 2012 revised recommendations) 
      • Globalisation and the need for international regulation and cooperation 
      • Cost of non-compliance 

    Definition, objectives and uses of KYC
    • The history and rationale of the KYC requirement 
    • Definition of a customer/client 
    • Developing the customer’s transaction profile 
    • Uses and effectiveness of KYC application in businesses 

    KYC standards and regulatory requirements
    • The legal and regulatory framework 
    • Compliance programme 
    • Customer acceptance policy 
    • Conducting Customer Due Diligence (CDD) and Enhanced Customer Due Diligence (ECDD) 
    • Ongoing Monitoring 
    • The role of: 
      • Directors and senior management 
      • Supervisors and managers 
      • Auditors
      • Employees
    • Dealing with regulators and supervisors 

    Application of KYC
    • The AML policy and procedures, guidelines or manual 
    • Guidelines for opening accounts and establishing and terminating relationships
    • Conducting Customer Due Diligence (CDD) 
    • Conducting Enhanced Customer Due Diligence (ECDD) 

    Procedure for customer identification and verification
    • Identification procedure at different stages 
    • Establishing business relationship 
    • When carrying out a financial transaction 
    • Customer research and verification 
    • When the authenticity, veracity or adequacy of previously obtained customer identification data is in doubt 
    • Proof of identity – establishing identity and establishing present address 
    • Developing the customer’s profile 
    • KYC for existing account-holders 
    • Confidentiality of information collected and data protection under KYC 

    Specific identification issues
    • Minor accounts 
    • Trust, nominee and fiduciary accounts 
    • Joint accounts and mandates 
    • Corporate issues such as beneficial owners, controllers, use of Special Purpose Vehicles (SPVs) 
    • Introduced business and Third Party Intermediaries 
    • Including client accounts opened by professional intermediaries 
    • Politically exposed persons (PEPs), their relatives and close associates 
    • Non-face-to-face customers (example, through online, mobile, internet and electronic channels) 

    Workshop A
    • How to conduct CDD or ECDD for individual customers and small businesses and how to develop these customers’ profiles

    Workshop B
    • How to conduct CDD or ECDD for corporate customers and trusts/nominees accounts and how to develop  these customers’ profiles
    Adopting a risk based approach
    • Requirements under the legal framework
    • Assessing vulnerabilities and risk
    • Full KYC vs. Risk-based KYC
    • Why and when to conduct CDD and ECDD
    • When to implement increased or reduced KYC requirements

    Constructing the AML and KYC framework
    • Group policies
    • Risk assessments
    • Roles and responsibilities
      • Board of directors, senior management, audit, the MLRO/Chief Compliance Officer, the compliance function, HR, training, risk, IT and other critical departments managers and supervisors, business lines and all employees
    • Requirement of corporate governance and integrity of all employees
    • Training and awareness
    • Monitoring and record keeping
    • Reporting requirements – Threshold reporting and Suspicious Transaction Reporting (STR)
    • Dealing with the authorities and enforcement agencies
    • Audit
    • Management Information (MI) and oversight

    Implementing and managing the total KYC
    • Rationale and cost of implementing and managing total KYC
    • Uses and benefits of KYC

    Real life case-studies of KYC management
    • KYC failures and success
    • Ways to prevent such failures
    • Tips for successful implementation and management of KYC
    • Meeting and exceeding expectations of regulators and other stakeholders

    Workshop A
    • Avoiding KYC Failures

    Workshop B
    • How to implement and manage total KYC within one’s institution and yet remain profitable
  • Methodology

    Lectures and workshop-styled discussions

  • Participant Profile
    Senior management, compliance officers, credit officers in business and corporate banking and finance, business lines, regulators and supervisors
  • Trainer

    Datin Lee Mei Pheng

    Datin Dr Lee is presently a senior partner, banking law consultant and practitioner at Detta Samen & Co Advocates, one of the most established law firms in Sarawak. She is an Advocate and Solicitor of the High Court in Malaya and an Advocate of the High Court in Sabah and Sarawak. Besides her continuing law practice, she is a Fellow of the Law Faculty, University of Malaya in Kuala Lumpur and had served at OCBC Bank in Malaysia as Head of their Legal department and Assistant Vice President, Kuching Branch in Sarawak for ten years. Since 1984, she has been a leading consultant and lecturer for banks and financial institutions, regulators, large corporations locally and internationally in many areas of banking and finance laws, Islamic banking and finance law, fraud, anti-money laundering and anti-terrorism financing, banking operations, credit, offshore banking, regulations and compliance. She lectures internationally and is presently a Course Director for EUROMONEY Training in Hong Kong.

    Datin Dr Lee holds a Doctor of Philosophy (Laws) from the University of Liverpool, England, specialising in Banking and Finance Law, and her PHD research was on banking fraud. She holds an LLB First Class Honours degree from the University of Malaya, and since the year 2000, has been an Adjunct Associate Professor, Faculty of Law at the Bond University, Queensland, Australia. Datin Dr Lee resides in the Gold Coast in Australia and lectures post-graduate law subjects in that country on various areas of International Banking and Electronic Banking Law subjects. She is a Fellow of the Financial Services Institute of Australasia and Tim Fischer Centre for Global Trade & Finance, as well as a Member of the Law Advisory Board, Bond University, Australia.
    She was one of the first to be awarded an Associate Fellow of the Institute of Bankers, Malaysia (now known as Asian Institute of Chartered Bankers or AICB); having served as chief examiner for law subjects since 1985 and in recognition for her vast contributions in publishing, examinations and training for AICB for more than twenty-seven years. Her many other professional contributions include being a consultant, commissioned author and editorial reviewer, and specialist for LexisNexis, AICB and Oxford publications related to Banking Law and Practice and Banking and Finance statutes, an External Assessor for Business law and Company Law, Wawasan Open University, Penang, Malaysia and author of many publications.

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