One of the largest monetary losses incurred by financial institutions are from regulatory penalties due to non-compliance to Anti Money Laundering regulations. The failures primarily result due to people, process and technology and can easily be addressed using effective and impactful training.
With the ever increasing pressure of FATF compliance, regulators are also emphasizing that financial institutions ensure full compliance to AML/CFT guidelines. As such, non-compliance to such regulations is now one of the biggest operational risks for the industry.
AML/CFT compliance begins with the employees and effective employee training is one of the most powerful tools available to any organization. Generally, AML training content is developed and delivered in-house and not designed for content retention. Rather, the main purpose of such training is to primarily comply with regulatory requirement.
Because so many front-line staff play a key role in the proper implementation of AML/CFT guidelines, effective training for all staff including senior management and even the Board is a must.
We can help you address the risk of non-compliance to AML/CFT guidelines by your staff through well structured, expertly designed, and economically priced training content.
We deliver highly engaging and interactive courses on AML / CFT that can be taken on-demand or in-house.
Award-Winning Video Story-Line and Content
The courses have won numerous international awards and have already been rendered to thousands of employees at banks and money exchange bureaus in North America and the Middle East in English, Spanish and French languages.
The world-class, award winning courses have been designed by a team of international experts who are experienced and qualified in the subject of financial crime and can be delivered to thousands of staff, senior executives and board members within shortest possible time, least possible cost and will help organizations remain compliant with FATF regulations with respect to training and awareness.
The courses will help financial institutions remain fully compliant to regulations as follows:
- Cover all key areas of both AML and CFT compliance including overview, roles and responsibilities, ML techniques, suspicious transactions, risk based approach and customer management
- Provide knowledge of latest money laundering and terrorist financing techniques and help employees clearly understand the difference between suspicious and non-suspicious transactions
- Help employees clearly understand their roles and responsibilities in preventing Money Laundering and Terrorist Financing
- Test employee knowledge through comprehensive, well designed and content targeted quizzes and tests developed by industry experts
- Give your organization access to highest quality tried, tested and fully updated training content that has already been provided to thousands of front line staff internationally
- Keep employees further engaged via growing list of micro learning courses on key compliance subjects such as Sanctions, Red Flags, Asking Good Questions, Identity Fraud, Human Trafficking, Cyber Crime and others
- Provide AML / CFT training at all levels of the organization with specially designed content for Front Line Staff, Senior Management MANCOM Members, Compliance Heads and Board of Directors
- Offer award-winning teaching technique that uses full scale video story-line of money launderers including interviews with senior industry professionals, law enforcement agencies and even a real criminal who was arrested for money laundering
- Offer most cost effective training that can be managed centrally by L&D Teams and delivered to each and every employee via PC, Tablet or Mobile across all remote locations or in-house as required.
- Offer most time-effective compliance with regulatory guidelines by providing quality training within shortest possible time frame to maximum number of employees across your network.
- Generate completion certificates to each and every employee upon successfully clearing the final test
The online course is a clear, concise training program that includes video-based story, an overview of how money laundering works, interactive exercises, real-life examples, fictional scenarios, interviews with industry experts and the specific details staff need to know to address money laundering.
After building a strong foundation of AML and CFT knowledge through drama, interviews with experts, and interactive exercises, the course focuses on specific information that staff need from the compliance officer to ensure that their AML/CFT program meets or exceeds legal and social obligations while protecting the organization’s assets and reputation. This cost-effective and efficient training provides staff with the information and resources they need to fulfill their oversight of the AML/CFT compliance program.
Staff will learn
- How money laundering and terrorist financing work
- What they can do to effectively reduce their exposure to potential money laundering and terrorist financing
- About government agencies associated with money laundering and terrorist financing
- Organizational and personal liability
- Questions they should ask about the main elements of their compliance regime
- New ways of recognizing suspicious activity related to money laundering and terrorist financing
- A closer look at beneficial owners and why it matters
- Ongoing monitoring of accounts
- Enhanced diligence for high-risk clients
- Review of red flags and suspicious indicators
- PEPs – Politically Exposed Persons
- Measures used to control the risks through legislation and enforcement bodies
- Key principles of a risk-based approach to AML and CFT
- Benefits of a successful compliance program and much more
The course includes case studies based on examples provided by compliance specialists, role-specific content, Red Flag lists, video interviews with subject matter experts, and role-playing exercises to help staff learn how to ask questions. Short video excerpts from video story and enhanced gamification features ensure consistent learner engagement.
The built-in exam ensures a baseline level of knowledge throughout your organization. Compliance officers can track exam results with editable, on-demand reports. These allow you to track current progress for each participant and provide an overview of company progress.
Compliance Short Courses
The online short courses on compliance topics keep anti-money laundering and financial crime issues in the forefront of the minds of your entire staff. Key concepts from their annual main course series are reinforced and related financial crime topics are introduced.
Each short course module is 3 to 9 minutes long. These highly-concentrated lessons include new financial crime subjects not addressed in the annual AML training.
Key features include:
- Mobile Friendly
- Timely Regulatory Updates
- Interactive Exercises
- Short, focused content that keeps learners engaged
- Growing list of topics that fulfill ongoing training requirements
- Terrorist Financing
- Asking Good Questions
- High Quality STRs
- Identity Fraud
- Human Trafficking
- Cyber Crime
- Complicit Employees
- Tipping Off
- Enhanced Measures
- Verifying Identity
- Reasonable Grounds
- Predicate Crimes
- Tax Evasion
- Commingling of Funds
- Senior Scams
- Ponzi Schemes
- Romance Fraud