- The video of every lesson, and the word-for-word transcript beside it
- Every claim linked to its primary source, with a source register per lesson
- An assessment for each of the 7 modules, and an end-of-course assessment
- A printable certificate carrying your name, the date and the content version
- The downloadable artefacts and one page references for this course
Expensing it? The invoice can be made out to your firm, with its VAT number and your purchase order reference. Buying for several people: seats for a team.
The narrated video runs about 1 hour 31 minutes across the 30 lessons. That is short on purpose: no filler and no reading out of the law, with the work in the transcripts, the sources, the assessments and the artefacts.
Module 3. KYC and due diligence in practice
The risk assessment you have to be able to produce and the four questions an inspector asks of it, identification of a customer and of the ownership and control structure behind it, the beneficial owner and the register with the duty to report discrepancies, source of wealth against source of funds for politically exposed persons, and due diligence on the asset as well as on the investor.
Every instrument this lesson is built from, linked to its official text
Article 2-2 of the Law of 12 November 2004 is the entity obligation to carry out a risk assessment; article 2-2(2) requires the risk information in the national and supranational risk assessments, or communicated by the supervisory authorities, the self-regulatory bodies or the European supervisory authorities, to be integrated into it, and requires the assessment to be documented, kept up to date and made available to the supervisor. The risk assessment articles of CSSF Regulation 12-02 carry the operational detail, and the Grand-ducal Regulation of 1 February 2010 carries the risk factors and the circumstances triggering simplified or enhanced measures. The EBA risk factors guidelines are applied in Luxembourg by Circular CSSF 25/878 of 7 April 2025, which adopts the amending guidelines EBA/GL/2024/01 amending EBA/GL/2021/02, and complements Circulars CSSF 23/842 and 21/782. Article 9-1quinquies, inserted by the Law of 16 July 2026, governs the national assessment by the Comite de prevention and imposes nothing on the entity.
- CSSF Regulation No 12-02 of 14 December 2012 Coordinated version published by the CSSF https://www.cssf.lu/en/Document/cssf-regulation-n12-02-2/
- Grand-ducal Regulation of 1 February 2010 Coordinated version published by the CSSF https://www.cssf.lu/en/Document/grand-ducal-regulation-of-1-february-2010/
- EBA Guidelines EBA/GL/2021/02 of 1 March 2021 on money laundering and terrorist financing risk factors European Banking Authority, guidelines page with the consolidated text as amended by EBA/GL/2023/03 and EBA/GL/2024/01 https://www.eba.europa.eu/legacy/regulation-and-policy/regulatory-activities/anti-money-laundering-and-countering-financing-1
- Circular CSSF 25/878 of 7 April 2025 Adoption of the revised EBA guidelines on money laundering and terrorist financing risk factors, complementing Circulars CSSF 23/842 and 21/782 https://www.cssf.lu/en/Document/circular-cssf-25-878/
- Law of 16 July 2026 amending the Law of 12 November 2004 Memorial A n. 371, Legilux https://legilux.public.lu/eli/etat/leg/loi/2026/07/16/a371/jo
Module 3. KYC and due diligence in practice
- Lesson 3.1. The risk based approach, and what you must be able to show 2:58 · this page
- Lesson 3.2. Identifying the customer, and the chain behind it 2:38
- Lesson 3.3. The beneficial owner, and the register 2:50
- Lesson 3.4. Politically exposed persons and enhanced due diligence 2:38
- Lesson 3.5. Know Your Assets, and onboarding somebody you never meet 2:31
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