Training ensures that staff/agents are aware of their suspicious activity reporting obligations and understand and how to comply with a firm’s AML policies.
What we found in our 2023/24 AML monitoring reviews
We find that some firms haven’t provided sufficient AML training to their staff. It’s a good idea to design a formal training plan to ensure the right staff receive the right training and firms should keep a log of staff training. Getting staff to sign and date the log can help emphasise how important it is that they always follow their training.