EXPLORE PROGRAMS
Enhanced Due Diligence (EDD) on high-risk users is the workhorse of any risk-based AML program. Where a relationship is determined to be high-risk — by virtue of geography, occupation, product, or behaviour — the PCMLTFA requires reporting entities to take additional measures, including more frequent monitoring and senior management approval. This course gives compliance officers and analysts a practical framework for designing, executing, and documenting EDD reviews that satisfy FINTRAC examiners and stand up to internal audit. It covers how to determine high-risk status, what additional information to collect, how to corroborate source of funds and source of wealth, and how to escalate findings. Worked examples are provided for retail, commercial, and institutional contexts.
You will learn how to determine when a relationship is high-risk, what additional information to collect, how to corroborate source of funds and source of wealth, how to apply enhanced ongoing monitoring, how to obtain senior management approval where required, and how to document the EDD file.
Course Cost :
$100.00
