Scenarios demonstrate the need to obtain proper customer identification for institutional accounts and emphasize the importance of due diligence.
Upon completion of this course, students will be able to:
- recognize the importance of knowing your institutional customer
- describe identification and verification requirements specific to institutional customers and beneficial owners
- explain the varying levels of risk that institutional customers present
- identify and promptly escalate “red flags” that may be indicative of money laundering or other suspicious activity in institutional accounts