Your staff – from compliance officer, senior manager to frontline staff – all need to understand  AML/CFT requirements and more specifically what their responsibilities are in this area. Without a rigorous training programme the wheels will fall off very quickly and you could be in serious trouble.

As a starting point here are the topics that the supervisors will be expecting to see covered when it comes to your training programme:

• Training on relevant AML/CFT legislation.
• Your business’s AML/CFT procedures, policies and controls.
• Your ML/TF risks (as set out in your risk assessment).
• Trends and techniques of ML/TF including how to identify unusual/suspicious transactions/activities.
• How training is tailored for different employees depending on the tasks carried out and the level of AML/CFT risk your business faces.
• How employees are assessed for knowledge, application and retention of the AML/CFT training.

Some training can be completed in-house by your compliance officer once they have gained appropriate knowledge and confidence to do so. Other areas may require more specialised external expertise. Like any compliance programme, the key is to develop a training policy, a process of delivery and then a control to ensure that it is actually completed.  

Strategi Institute provides training on all aspects of AML/CFT and can help your key staff to understand the requirements and set up the policies, procedures and controls that you need to succeed. Get in touch today for more information.