KYC and Customer Due Diligence Training Australia

Strong customer verification processes are the first line of defence against financial crime, helping organisations...

4.6(7)
320
2-5 Hours
24
Intermediate

About This Course

Strong customer verification processes are the first line of defence against financial crime, helping organisations identify risks, protect their reputation, and meet regulatory expectations. Our KYC and Customer Due Diligence Training develops the knowledge and practical skills required to conduct effective Know Your Customer (KYC) and Customer Due Diligence (CDD) processes in line with Australia’s evolving Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations.

This comprehensive online KYC and CDD training course provides practical guidance on customer identification and verification, beneficial ownership checks, client risk assessments, enhanced due diligence (EDD), source of funds verification, ongoing monitoring, and suspicious matter escalation. Participants will gain an understanding of AUSTRAC expectations, risk-based compliance approaches, and the controls required to support AML/CTF compliance under Australia’s regulatory framework, including upcoming Tranche 2 reforms.

Designed for professionals in legal services, accounting, real estate, financial services, trust and company services, and other regulated industries, this course helps strengthen financial crime risk management capabilities. Through practical examples, real-world scenarios, and compliance-focused activities, learners will develop confidence in identifying high-risk customers, detecting suspicious activity, and improving customer onboarding controls. By completing this KYC and Customer Due Diligence training, participants will be better equipped to support effective AML/CTF frameworks, reduce financial crime risks, and maintain stronger regulatory compliance across their organisation.

What You'll Learn

By completing this course, you will be able to:

  • Understand Australia's AML/CTF framework, Tranche 2 reforms, and AUSTRAC compliance requirements.
  • Identify designated services and determine when customer due diligence (KYC) obligations apply.
  • Conduct effective customer identification and verification using reliable compliance methods.
  • Assess client authority, representatives, and service purposes before providing professional services.
  • Investigate beneficial ownership structures involving companies, trusts, and complex arrangements.
  • Apply customer risk assessment and risk-rating methodologies to identify higher-risk clients.
  • Recognise sanctions risks, politically exposed persons (PEPs), and high-risk jurisdictions.
  • Perform enhanced due diligence (EDD), including source of funds and source of wealth checks.
  • Monitor customer relationships, identify trigger events, and maintain accurate compliance records.
  • Detect suspicious activities, understand tipping-off restrictions, and support ongoing AML/CTF risk management.

Who should Take This Course

This course is ideal for:

  • Compliance Officers
  • AML/CTF Compliance Professionals
  • Risk and Governance Professionals
  • Lawyers and Legal Support Staff
  • Accountants and Bookkeepers
  • Real Estate Professionals
  • Financial Services Personnel
  • Trust and Company Service Providers
  • Customer Onboarding Teams
  • Client Relationship Managers
  • Business Owners and Directors
  • Anyone responsible for customer due diligence and regulatory compliance

Career opportunities

KYC and AML/CTF expertise is increasingly sought after across regulated industries as compliance obligations continue to expand.

This course can support career development in roles such as:

  • KYC Analyst
  • Customer Due Diligence Officer
  • AML/CTF Compliance Officer
  • Financial Crime Analyst
  • Compliance Coordinator
  • Risk and Compliance Advisor
  • Governance Officer
  • Regulatory Compliance Specialist
  • Client Onboarding Specialist
  • Risk Management Professional

As Australia's AML/CTF regime expands under Tranche 2 reforms, professionals with expertise in KYC, customer due diligence, beneficial ownership verification, and financial crime compliance will remain highly valued across multiple sectors.

Requirements

There are no formal prerequisites for this course.

The training is suitable for professionals working in compliance, legal services, accounting, real estate, financial services, governance, risk management, customer onboarding, and regulated industries. No prior AML/CTF experience is required.

Certification

Certification

Upon successful completion of the course and final assessment, learners will receive a Digital Certificate from Australian Compliance Training.

This certificate demonstrates knowledge of KYC procedures, customer due diligence requirements, beneficial ownership verification, enhanced due diligence, and AML/CTF compliance obligations within Australian regulated industries.

Certification

Why Choose Us

  • 100% online and self-paced learning designed for busy professionals.
  • Practical, compliance-focused training aligned with Australian AML/CTF requirements.
  • Industry-relevant content built around real-world customer due diligence challenges.
  • Interactive assessments that reinforce learning and practical application.
  • Instant digital certification upon successful completion.
  • Trusted compliance training designed to support regulatory readiness and business resilience.

Compliance and Regulatory Alignment

This course supports awareness and understanding of:

  • Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)
  • AUSTRAC AML/CTF Rules and Regulatory Guidance
  • Australia's Tranche 2 AML/CTF Reforms
  • Customer Due Diligence (CDD) Requirements
  • Know Your Customer (KYC) Obligations
  • Enhanced Due Diligence (EDD) Requirements
  • Beneficial Ownership Identification and Verification
  • Politically Exposed Person (PEP) Screening
  • Sanctions Compliance Requirements
  • Suspicious Matter Reporting (SMR) Obligations
  • Risk-Based AML/CTF Program Requirements

Course Curriculum

7 sections24 lectures2-5 Hours
▶ Tranche 2 Regulated Businesses
▶ Designated Services and Trigger Points
▶ AUSTRAC Expectations and Deadlines
▶ Business-Wide Risk Assessment Basics
▶ Quiz
▶ Client Identification Requirements
▶ Verification and Reasonable Grounds
▶ Authority to Act and Representatives
▶ Client Purpose and Matter Risk
▶ Quiz
▶ Companies and Corporate Layers
▶ Trusts and Control Parties
▶ Nominees and Hidden Influence
▶ Ownership Evidence and File Notes
▶ Quiz
▶ Client Risk Factors
▶ Service and Transaction Risk
▶ Geography and Sanctions Risk
▶ Low, Medium, and High-Risk Ratings
▶ Quiz
▶ High-Risk Clients and Matters
▶ Source of Funds Checks
▶ Source of Wealth Checks
▶ PEPs and High-Risk Jurisdictions
▶ Quiz
▶ Trigger Events and KYC Refresh
▶ Unusual Behaviour and Red Flags
▶ Suspicious Matter Escalation
▶ Tipping-Off and Internal Controls
▶ Quiz
▶ Quiz

Frequently Asked Questions

This course provides practical guidance on Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements under Australia's AML/CTF framework, helping businesses meet Tranche 2 compliance obligations.

The course is ideal for compliance officers, legal professionals, accountants, real estate professionals, trust and company service providers, financial services staff, and anyone responsible for customer onboarding and AML/CTF compliance.

Yes. It explains the Tranche 2 reforms, designated services, AUSTRAC expectations, business-wide risk assessments, and the compliance obligations for regulated businesses.

You will learn how to identify and verify clients, assess beneficial ownership, evaluate customer risk, conduct enhanced due diligence, and maintain compliant customer records.

Yes. The course covers enhanced due diligence for high-risk customers, including source of funds checks, source of wealth verification, politically exposed persons (PEPs), and high-risk jurisdictions.

Yes. It provides practical guidance on implementing KYC procedures, ongoing monitoring, suspicious matter escalation, record-keeping, and internal controls to support AUSTRAC compliance.

Effective KYC and CDD help prevent money laundering and financial crime, reduce regulatory risk, protect business reputation, and ensure compliance with Australian AML/CTF legislation.

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