KYC, CDD, EDD & Beneficial Ownership in the UK

Course 3 of 6 in the StudyAML UK Series This course provides financial services professionals with a practical, risk-based understanding of Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and beneficial ownership requirements under the UK Money Laundering Regulations. Learn how to verify customers, identify who ultimately owns or controls corporate structures, apply enhanced measures for higher-risk relationships, and maintain defensible records that meet FCA and HMRC expectations.

20 - 25 minutes

Certificate Included

United Kingdom

Description

This 20–25 minute self-paced course explores how KYC and CDD operate in practice across the UK financial services sector. Participants will learn how identity verification, beneficial ownership transparency, and risk-based due diligence help prevent money laundering, terrorist financing, and proliferation financing. The course explains when standard due diligence is sufficient, when Enhanced Due Diligence is required, and how ongoing monitoring supports early detection of unusual or suspicious activity. Through realistic scenarios and clear guidance, learners will understand how to manage PEPs, complex ownership structures, high-risk jurisdictions, and changing customer behaviour — while maintaining strong records that stand up to regulatory scrutiny. This course builds on the UK AML framework introduced in earlier modules and prepares learners for more advanced reporting and sanctions obligations later in the series.

What will you learn?

Module 1 — Understanding KYC & CDD in the UK
Learn the purpose and principles of KYC and CDD, identity verification standards, and why understanding customer purpose and expected activity is critical to risk-based compliance.
Module 2 — Verifying Identity & Beneficial Ownership
Explore individual and corporate verification methods, UK company structures, trusts, partnerships, and the Persons with Significant Control (PSC) regime. Learn how to unravel complex ownership structures.
Module 3 — Enhanced Due Diligence & Ongoing Monitoring
Understand when EDD is required, how to manage PEPs and high-risk jurisdictions, recognise proliferation financing indicators, and apply effective ongoing monitoring.
Module 4 — Recordkeeping & Best Practices
Learn what records must be kept under the UK MLRs, how long to retain them, and how strong documentation supports audits, FCA reviews, and effective compliance governance.