Wwft Customer Investigation (English)

Demonstrable expertise of the Wwft and Sanctions Act is a requirement for employees of a financial institution. However, following a Wwft training only makes sense if it is in line with the daily activities.

A certain degree of knowledge of the legal requirements and regulations is important for the proper execution of a customer investigation. But a client investigation is sometimes also detective work and requires a good dose of analytical ability. How do you analyze and assess the information you have about a customer? How do you come to conclusions? And not unimportantly, how do you record your conclusions?

This training serves to deepen the knowledge you already have about compliance with the Wwft and Sanctions Act, for example by following our Wwft Awareness course. During the course we help you in a practical way to go through the steps of customer research: analyze, assess, conclude and record.

Target audience

This in-depth training is intended for employees who are directly involved in the execution of the Customer Due Diligence process, but is also of interest to Compliance Officers.

Education level

This in-depth course is the next step after following our Wwft Awareness course. This is a course on HBO (higher vocational education) level. There are no specific prerequisites for this course. However, we assume that you have at least a general idea of the requirements that the Wwft and Sanctions Act set for financial institutions and their employees.

Objectives

Upon successful completion of the program, your understanding of the legal requirements in the area of customer due diligence under the Wwft, and the background to it, has been enhanced. You will also have been able to practice the skills you need in customer investigation.
The training:

• Tailors to your specific work activities
• Offers demonstrable results
• Is not larger than necessary, but relevant

Course content

The e-learning starts with an overview of the legal framework. What is expected of the company when it comes to determining whether its (potential) customers have integrity? On this basis we translate it into practice. Where possible, we make use of concrete examples and cases.

Baseline measurement

The training starts with a baseline measurement to determine whether you can take the test immediately or whether it is best to study the theory first.

Theory

The following topics will be covered during the training:

• The legal framework of CDD
• The risks that financial institutions face when it comes to doing business with clients of low integrity
• The purpose of customer due diligence, the different forms of customer due diligence and their application
• The risk indicators that play a role in customer due diligence
• The review of the purpose and nature of the relationship
• How to deal with a Politically Exposed Person (PEP)
• Explaining the difference between origin of funds and origin of assets

Test Wwft Client Investigation

Certificate Wwft Client Investigation

Study duration

The e-learning takes an average of four hours to complete, depending on your prior knowledge of transaction monitoring.

Why our Wwft Customer Investigation course?

• Developed by specialists from Charco & Dique
• Flexible learning where and when it suits you, through our online learning environment or app
• Baseline measurement at the beginning of the program, so you know exactly what material you need to go through or can skip
• Meet the periodic Wwft training obligation