It’s crucial for your business to demonstrate a clear understanding of these requirements and training is the essential tool to achieving this.

From compliance officers to frontline staff, everyone must have a good understanding of the AML/CFT regulations and their specific responsibilities. Without robust training, your compliance efforts could falter, leading to serious consequences.

Here’s what supervisors will expect to see in your training programme:

• Comprehensive training on relevant AML/CFT legislation.
• Clear documentation of your business’s AML/CFT policies, procedures, and controls.
• Identification and assessment of ML/TF risks based on your risk assessment.
• Insight into ML/TF trends and techniques, including recognising unusual transactions or activities.
• Tailored training for different employees based on their roles and the AML/CFT risks associated with those roles.
• Evaluation of employees’ knowledge, application, and retention of AML/CFT training.

While some training can be conducted in-house by your compliance officer, other areas may require external expertise. Regardless, the key is to establish a training policy, a delivery process, and mechanisms for monitoring completion which could be as simple as setting up an excel spreadsheet.

Strategi offers comprehensive training on all aspects of AML/CFT, empowering your key staff to understand requirements and establish the necessary policies, procedures, and controls for success. 

Reach out today for more information, and if you haven’t already, sign up for your sector-specific training.