Program Brief

In light of the efforts made by insurance companies to verify information related to their customers, they have taken great care to implement the "know your customer" rules and guidelines in order to combat financial crime and ensure that the principles of integrity prevail in all operations and activities. This training program is designed to familiarize participants with the concept of knowing your customer, the general rules for identifying customers and verifying their identities, and how to assess customer risks, as well as reviewing the instructions and regulations issued by the Central Bank regarding the principle of knowing your customer in the insurance sector.

Program Goals

At the end of the training program, the participant should be able to:

  • Acquire a thorough understanding of know-your-customer rules; for the purpose of effective application of due diligence procedures and thus reduce the risk of financial crimes.
  • Familiarity with the procedures for identifying customers and their true beneficiaries, to identify and report suspicious activities.
  • Identifying high-risk clients to properly deal with the risks they represent.
  • Reviewing the laws, regulations and directives related to the application of know your customer in the insurance sector issued by the Saudi Central Bank (SAMA) to promote a culture of compliance.
Jadarat
Program Agenda
Module 1: Know your Customer Concept
  • 1 The 'know your customer' principle

    • 2 Customer identification process

      • 3 The general rules for identifying customers and verifying their identity

        • 4 Customer Due Diligence

          Module 2: Identifying High-Risk Customer
          • 1 Detailed procedures for identifying clients and their true beneficiaries

            • 2 Means of following up on clients of insurance in terms of patterns of operations

              • 3 Customer risk assessment

                • 4 Examples of high-risk clients and ways to deal with the risks they represent

                  Module 3: The Concept of Compliance to the Rules of Know your Customer
                  • 1 Instructions of the Central Bank of Saudi Arabia related to the application of the compliance in insurance companies

                    • 2 The importance of compliance to the instructions of the regulatory authorities

                      • 3 The relationship between compliance, risk management and internal audit

                        • 4 Compliance relationship with the application of know your customer

                          Program Requirements

                          Not Available

                          Program Path

                          Names of the training programs that are integrated (enriched) with the training program:

                          Names of the training programs that after the training program:

                          Program Method
                          • Lecture
                          Evaluation Method
                          • Other
                          Training Type
                          • In Class Training
                          • Online Training

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