Know Your Customer (KYC) Training

Included with Anti-Money Laundering course
Deliver on Ethena or your LMS (SCORM)
Auto-save training, mobile-friendly
Meets accessibility standards
AI authoring tools for easy customization

Course Summary

Know Your Customer, or KYC, is a set of financial services standards requiring businesses to do their due diligence in verifying the identity and risk profile for each individual customer. It’s one of the most important elements of an effective anti-money laundering program, and your employees play a key supporting role in maintaining it. With Ethena’s Know Your Customer mini-course, teach your team what a healthy KYC program looks like, why it’s important, and give them proper context on important topics like beneficial owner, CIP, CDD, and EDD.

Included Modules:

What is KYC?

Introduces Know Your Customer, the BSA/USA PATRIOT Act framework requiring institutions to verify and understand who they do business with.

Who Must Follow KYC?

Explains which financial institutions and covered businesses are bound by KYC obligations under the Bank Secrecy Act and its implementing rules.

When Does KYC Apply?

Covers the trigger points for KYC, from account opening and onboarding to ongoing monitoring and updates throughout the customer relationship.

KYC Requirements

Outlines the core Customer Identification Program elements, including collecting and verifying identity, and applying risk-based due diligence.

KYC Steps

Walks through the practical KYC process of identifying, verifying, and risk-rating customers, then monitoring activity for ongoing compliance.

KYC Violations

Explains the consequences of weak or failed KYC, including regulatory penalties, enforcement actions, and heightened money-laundering exposure.

Why is this training important for workplaces?

The concept of “Know Your Customer” (KYC) is a fundamental principle in various industries, particularly banking, finance, and retail. KYC refers to the process of verifying the identity of customers, understanding their financial activities, and assessing the associated risks. By implementing robust KYC procedures, businesses can mitigate the risk of fraud, money laundering, and terrorist financing, as well as comply with regulatory requirements and industry standards. KYC involves gathering relevant information about customers, such as their identity, address, occupation, and source of funds, and conducting due diligence to verify the accuracy and legitimacy of this information.

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