Contact Us
Search

Adopting a Risk-Based Approach

A 16-minute compliance training course on how to apply a Risk-Based Approach to AML/CFT/CPF obligations. Learn how to identify risk, rate clients, and tailor Customer Due Diligence (CDD) measures based on risk level.

16 minutes of content

Course Certificate

Cayman Islands

Description

This self-paced course explores how financial institutions in the Cayman Islands can apply a risk-based approach (RBA) to manage AML/CFT/CPF obligations effectively. It offers practical guidance on assessing client risk factors, building risk profiles, and tailoring due diligence measures. The course supports compliance with Cayman Islands Monetary Authority (CIMA) expectations and international standards.

What will you learn?

  • Understand the principles and advantages of adopting a risk-based approach to AML/CFT compliance. 
  • Identify and assess client risk factors, including geography, business type, ownership complexity, and transactional behavior. 
  • Develop and implement structured risk rating methodologies to categorize clients into low, medium, or high-risk bands. 
  • Apply appropriate levels of customer due diligence (Simplified, Standard, Enhanced) based on client risk profiles. 
  • Manage the risks associated with non-face-to-face relationships and complex entities. 
  • Align institutional practices with Cayman Islands regulatory frameworks and global FATF standards. 

Course Content

  1. Introduction to the Risk-Based Approach 
    • Fundamentals and benefits of RBA 
    • Comparison to one-size-fits-all compliance 
    • Factors influencing client risk and tailored control measures 
  2. Client Risk Factors 
    • Risk factors: geography, business activity, ownership structure, delivery channels 
    • Managing non-face-to-face relationships 
    • Distinguishing between customer types: individuals vs. entities 
  3. Client Risk Profiles 
    • Building a risk rating methodology 
    • Assigning risk bands (low, medium, high) 
    • Tailoring CDD (Simplified, Standard, Enhanced) based on client risk profiles 

US$ 19.99

Enrollment for this course is temporarily disabled.

This course includes:

  • Cayman Islands
  • Course Certificate
  • 16 minutes of content

Do you need more information?

Contact Sales

Course Page Content

AML Compliance Made Easy

StudyAML offers country-specific, industry leading online courses covering governance, risk, compliance, AML, data protection, and more.

COMPANY

  • 300 Delaware Ave, Ste 210 #304, Wilmington, Delaware 19808
  • contact@studyaml.com

COMPANY

NEWSLETTER

Subscribe to our exclusive newsletter for expert insights, tips, and updates—delivered straight to your inbox. It’s free for StudyAML subscribers and packed with practical guidance to keep your compliance game strong.

By submitting this form, you are consenting to receive marketing emails from: marketing@studyaml.com You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.

Secure payments powered by: 

American_expressDiscoverMastercardVisa

SSL Secured • PCI Compliant

Copyright © 2023 VYKN LLC. All Rights Reserved.