CKYCA case studies
CKYCA · Put your knowledge to work in context.
The Certified Know Your Customer Associate (CKYCA) is a professional credential for people who carry out customer due diligence and anti-money-laundering controls at banks, payment firms, brokers, insurers, and other regulated financial businesses. It suits analysts, onboarding and periodic-review specialists, compliance officers, and staff moving into financial crime roles from operations or relationship management. The CKYCA case studies are 5 cases and about 2,805 words.
1Remote onboarding with a four-part name and third-party address evidence
Meridian Pay, a Singapore-licensed e-money institution, is onboarding Ms. Maria Cristina dela Cruz Santos, a 34-year-old freelance graphic designer in Manila, for a multi-currency account to receive USD payments from overseas platforms.
568 words, about 3 min2Discretionary trust in a layered offshore ownership chain
Northbridge Trading Ltd, incorporated in Seychelles, applies for a corporate account at a Singapore bank. Its sole shareholder is Cedar Holdings SA (Panama).
600 words, about 3 min3Former official, current minister's brother-in-law, and an above-market state sale
A private bank in Geneva is asked to onboard Mr. A, a 58-year-old resident of Country X, who wants to deposit USD 2.5 million from the sale of his construction company.
572 words, about 3 min4Restaurant cash deposits just under the reporting threshold
Golden Wok, a restaurant customer of a US community bank for six years, has declared annual revenue of USD 400,000 and average monthly cash deposits of USD 18,000. Over the last eight weeks it made 14 cash deposits, each between USD 9,200 and USD 9,800, on Fridays, at three different branches.
530 words, about 3 min5Five-year retention, seven-year group policy, and a law enforcement request
At a mid-sized bank in a jurisdiction whose AML law requires customer records to be kept for five years after the end of the business relationship, a branch destroyed paper onboarding files in 2021 for accounts closed in 2016. The group policy requires seven years, but the local compliance manual repeated the five-year rule.
535 words, about 3 min