Client Identification Requirements – Canada

This course is part of Anti Money Laundering: Canada Specialization

Instructors: SkillUp

Access provided by Kyiv National Economic University named after Vadim Hetman

3 modules

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

3 hours to complete

Flexible schedule

Learn at your own pace

3 modules

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

3 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Explain client identification and identity verification requirements under the PCMLTFA, including verification triggers and timing obligations
Apply risk-based due diligence, including Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), to client identification
Describe prescribed identity verification methods, including third-party reliance, beneficial ownership, and third-party determination
Demonstrate compliance with EDD triggers, re-verification, ongoing monitoring, and recordkeeping requirements

Skills you'll gain

Details to know

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Assessments

8 assignments

Taught in English

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This course is part of the Anti Money Laundering: Canada Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 3 modules in this course

Master your client identification obligations under Canada's AML/ATF framework with this practical, scenario-driven course aligned to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) guidance.

Built for compliance professionals, money services businesses (MSBs), banks, and reporting entities, this course equips you with the skills to identify and verify clients, apply risk-based due diligence, meet beneficial ownership requirements, and maintain compliant records, all through real-world scenarios, interactive activities, and hands-on practice. You will learn to apply prescribed verification methods for individuals and entities, navigate basic customer due diligence (CDD) and enhanced due diligence (EDD), understand timing of verification obligations, fulfill third-party determination requirements, and support ongoing monitoring and recordkeeping in line with current FINTRAC regulatory requirements. Whether you are new to Canadian AML compliance or looking to strengthen your existing knowledge, this course provides the practical, regulation-grounded training you need to perform with confidence. Enroll today to build job-ready KYC compliance skills and meet your client identification obligations under the Canadian law.

Canada's AML/ATF framework places specific obligations on reporting entities to identify and verify their clients but meeting those obligations requires more than collecting information. This module establishes the conceptual and regulatory foundation for client identification under the PCMLTFA. Learners will work through the distinction between identification and verification, examine what triggers verification obligations and when verification must occur, and develop a working understanding of business relationships and the risk-based due diligence framework that governs how those obligations are applied in practice.

What's included

2 videos4 readings3 assignments4 plugins

2 videosTotal 4 minutes

Identification and Verification Basics2 minutes
Business Relationships and Risk-Based Due Diligence2 minutes

4 readingsTotal 9 minutes

Course Overview2 minutes
Why Client Identification Matters2 minutes
Applying a Risk-Based Approach3 minutes
Key Takeaways: Foundations of Client Identification2 minutes

3 assignmentsTotal 24 minutes

Practice Quiz: Client Identification Fundamentals6 minutes
Practice Quiz: Risk-Based Due Diligence6 minutes
Graded Quiz: Foundations of Client Identification12 minutes

4 pluginsTotal 35 minutes

Activity: Quiz: Pre-Course Reflection5 minutes
Activity: Common Verification Triggers10 minutes
Activity: CDD versus EDD at a Glance10 minutes
Activity: Apply CDD or EDD10 minutes

Knowing that verification is required is only part of the obligation, reporting entities must also apply it correctly. This module moves from concept to application, covering the prescribed methods for verifying individuals and entities, the conditions under which a reporting entity may rely on another to verify a client's identity, and the requirements around beneficial ownership and third-party determination, including the important regulatory distinction between ascertaining and verifying beneficial ownership. The module closes with ongoing compliance obligations: when mandatory EDD applies regardless of a reporting entity's own risk assessment, what circumstances require re-verification of an existing client, and what monitoring and recordkeeping obligations must be maintained.

What's included

3 videos4 readings4 assignments5 plugins

3 videosTotal 7 minutes

Individual and Entity Verification Methods3 minutes
Beneficial Ownership: Ascertaining versus Verifying2 minutes
Mandatory EDD, Re-Verification, and Ongoing Monitoring2 minutes

4 readingsTotal 14 minutes

Verification Methods in Practice4 minutes
Beneficial Ownership and Third-Party Determination in Practice4 minutes
Mandatory EDD: Specific Regulatory Requirements3 minutes
Key Takeaways: Verification and Compliance Requirements3 minutes

4 assignmentsTotal 28 minutes

Practice Quiz: Verification Methods4 minutes
Practice Quiz: Beneficial Ownership and Third-Party Determination6 minutes
Practice Quiz: Ongoing Compliance Requirements6 minutes
Graded Quiz: Verification and Compliance Requirements12 minutes

5 pluginsTotal 35 minutes

Activity: Verification Requirements by Client Type: A Quick Reference5 minutes
Activity: Choosing the Right Verification Method5 minutes
Activity: Beneficial Ownership Requirements by Entity Type10 minutes
Activity: The Compliance Inbox: Determining Third Parties10 minutes
Activity: Client Identification Recordkeeping Requirements5 minutes

This final module brings together the key concepts from both modules and gives learners an opportunity to apply their knowledge across realistic client identification scenarios before completing the final assessment.