We offer a comprehensive set of AML/CTF compliance training solutions tailored to your specific organisational requirements, including:
- Your organisational goals
- The size of your business
- Your operational structure and resources (human resources, technology, and budget)
- Your governance structure
- Your client base and jurisdictions of operation
- Applicable AML/CTF laws and regulations
- Sector-specific red flags and indicators
- Industry standards for AML/CFT compliance
- Business-specific risks, vulnerabilities, and ML/TF red flags identified in your AML/CTF Risk Assessment
- Role-specific AML/CFT obligations
AML/CFT Training Solutions Key Personnel
We provide training solutions for a wide range of professionals, including:
- Risk and Compliance Managers
- Anti-Fraud Teams
- MLROs and AML/CFT officers
- Customer onboarding teams
- Customer support teams
- Sales and business development teams
- Marketing teams
- Senior managers and decision-makers
- Operations and settlement teams
- IT personnel managing compliance triggers and systems
Focused AML/CFT Training
Our AML/CFT training programs are tailored to meet the specific needs of reporting entities, covering the following key areas:
- Role-specific training for compliance teams, management, and boards
- ML/TF risk identification and mitigation training
- CDD, know your business (KYB) and know your customer (KYC) processes training
- Sanctions, PEP, and adverse media screening practices
- Suspicious matter, activity and transaction identification and reporting
- Transaction monitoring and red flag identification
- Enhanced due diligence (EDD) procedures
- EDD for high-risk customers and transactions
- Recordkeeping and audit readiness
- Training on regulator and auditor expectations
- Integration of AML/CTF requirements into operational processes
- Training for onboarding and ongoing monitoring workflows
- Sector-specific AML/CTF compliance obligations
- Governance training on AML/CTF responsibilities
- Risk-based training modules aligned with your risk management framework
- Interactive scenario-based training for ML/TF risks
- Periodic refresher training programs to align with evolving regulations
- Metrics and KPIs for training effectiveness
Services Coverage
Our AML/CFT training services cover:
MLRO and Compliance Training
- Tailored training for understanding AML/CFT obligations
- Focus on compliance program design and implementation
- Filing SARs/STRs and managing EDD processes
Senior Management Training
- Decision-making aligned with AML/CFT requirements
- Identifying and mitigating ML/TF risks in business operations
- Escalation protocols for suspicious activities
Customer Onboarding and Due Diligence Training
- Conducting KYC and CDD procedures
- Assigning risk levels to clients based on verified information
- Implementing ongoing due diligence programs
- Identifying and managing material changes in client relationships, including beneficial ownership and account details
Transaction Monitoring Training
- Setting up transaction monitoring controls and triggers
- Detecting complex and unusual transactions
- Managing high-risk client transactions
- Sector-specific red flags, and unusual settlement patterns
Record-Keeping Training
- Retention policies and compliance requirements
- Maintaining audit-ready records
- Documenting material changes in customer relationships
Risk Awareness and Sector-Specific Training
- Addressing inherent and entity-specific AML/CFT risks
- Sector-specific compliance challenges and solutions
- Managing risks associated with high-risk jurisdictions
- Addressing procedural gaps and weak spots in AML/CFT compliance manuals
Enhanced Due Diligence Training
- Conducting EDD during onboarding and ongoing relationships
- Verifying sources of wealth and funds
- Addressing compliance challenges for high-risk customers
- Specific scenarios, such as nominee shareholders, high-risk jurisdictions, and post-onboarding triggers like large or unusual transactions
SARs and STRs Training
- Detecting and reporting suspicious activities
- Filing SARs/STRs within regulatory deadlines
- Managing client relationships post-SAR/STR reporting
We provide AML/CTF compliance training to a wide range of financial institutions, financial service providers, and other reporting entities subject to AML/CTF regulations, including but not limited to:
- Investment bankers
- Investment firms
- Fund managers
- Brokers, including forex brokers
- Fintech companies
- Non-bank deposit takers
- Non-bank lenders
- Online casinos and gambling platforms
- Currency exchange providers
- E-money issuers
- Money remitters and money transmitters
- Payment gateway providers
- Derivatives issuers and platforms
- Neo-banks
- P2P lending platforms
- Crowdfunding services and platforms
- Financial advisers
- Investment advisers
- Wealth managers
- Custodial or depository service providers
- Consumer credit providers
- Building societies
- Savings and loan associations
- Credit unions
- Corporate finance providers
- Finance companies
- Designated non-financial businesses and professions (DNFBPs), including trust and company formation providers (TCSPs)
Jurisdictional Coverage
We deliver AML/CTF compliance training solutions across the following jurisdictions, including but not limited to:
- Australia: Where designated service providers are subject to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)
- United Kingdom: Where relevant persons, including financial institutions and DNFBPs, are governed by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) (subsequently updated in 2019 and beyond)
- United States: Where financial institutions and other covered entities are subject to the Bank Secrecy Act (BSA), the USA PATRIOT Act and other relevant laws and regulations.
- Singapore: Where depending on their nature of business, reporting entities, including financial institutions and DNFBPs, may have to comply with different acts and notices, including Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA), Terrorism (Suppression of Financing) Act, Payment Services Act (PSA) and MAS Notices like MAS Notice 626, MAS Notice 1014,
- MAS Notice 824, MAS Notice PSN01, MAS Notice PSN0, etc.
- European Union: Where obliged entities, as defined in the 6th Anti-Money Laundering Directive (6AMLD), must meet AML/CFT obligations
- New Zealand: Where reporting entities are regulated under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)
- Prominent Formation Centres
- Belize: Where reporting entities are regulated under the Money Laundering and Terrorism (Prevention) Act
- British Virgin Islands: Where reporting entities comply with the Proceeds of Criminal Conduct Act
- Cayman Islands: Where reporting entities are regulated under the Proceeds of Crime Act (2020 Revision) and the Anti-Money Laundering Regulations (2020 Revision).
- Jersey: Where relevant persons are governed by the Proceeds of Crime (Jersey) Law
- Malta: Where subject persons are regulated under the Prevention of Money Laundering Act (PMLA)
- Dubai: Where reporting entities are governed by the Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, along with its amendments and implementing regulations
- Bermuda: Reporting entities are subject to the Proceeds of Crime Act 1997, the Anti-Terrorism (Financial and Other Measures) Act 2004 and other relevant laws and regulations
- Mauritius: Where reporting entities are governed by the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA)
- Seychelles: Where reporting entities are subject to the Anti-Money Laundering and Countering the Financing of Terrorism Act 2020
- Vanuatu: Where reporting entities are regulated under the Anti-Money Laundering and Counter-Terrorism Financing Act 2014
AML/CFT Training Program Design
We offer well-designed AML/CFT training programs with a focus on:
- Comprehensive training aligned with regulatory requirements
- Tailored learning paths for different roles within your organisation
- Integration with existing AML/CFT risk assessment and AML/CFT compliance program
- Practical modules focusing on real-world applications
- Needs assessment and training gap analysis
- Development of role-specific training materials
- Inclusion of sector-specific risks and compliance obligations
- Interactive modules and workshops
- Regulatory compliance requirements for AML/CFT
- Role-specific AML/CFT obligations
- AML/CFT sector risk and supervisory guidance
We tailor our training to:
- Your business structure and strategy, Including size, governance structure, and objectives.
- Your products, services, and client base: Tailoring to the operational and risk factors associated with your services and products.
- Resources and technology: Aligning with available risk and AML/CFT compliance technology and internal resources.
AML/CTF Training Program Enhancement
We offer AML/CTF training program enhancements to increase its overall effectiveness, reflecting on:
- New compliance requirements, changes to the AML/CFT regulatory regime, and adaptations to AML/CFT compliance guidance
- Business growth and expansion
- Changes in risk ratings, risk appetite, risk assessment methodologies, emerging risks integration, etc
- AML/CFT auditors' and supervisors' findings, including identified deficiencies and breaches
- Results of previous AML/CFT controls testing
- Internally identified areas of improvement and gaps
- Introduction of new products
- Best practice benchmarking
AML/CFT Training Program Review
We offer thorough AML/CFT training program reviews to assess:
- Training effectiveness and knowledge retention
- Any gaps and areas requiring additional focus
- Points of improvement
- Incorporation of regulatory updates and feedback
We offer this service either as:
- A standalone solution
- As part of our internal AML/CFT review solution. For more information about coverage, please visit our Internal AML/CFT Review page.
- As part of our AML/CFT statutory audit solution. For more information about coverage, please visit our AML/CFT Statutory Audit page.
AML/CFT Training Solutions for Small Businesses and Startups
Getting your AML/CFT compliance right from the get-go is essential. It is better to be compliant than sorry, as the business size and being new to the market are not usually excuses.
Our AML/CFT training solutions are tailored to small businesses and startups, focusing on compliance education for a foundational understanding of AML/CFT risk management and its implementation across the business while allowing adjustment for future growth and continuous improvement as your business develops.
Our solutions for small businesses include:
- Cost-effective training modules tailored to small teams
- Practical guidance for meeting AML/CFT obligations
- Cost-effective training options
- Tailored compliance training
- User-friendly learning materials
AML/CFT Training Solutions for Company Groups
Managing AML/CFT compliance across multiple jurisdictions can be a complex challenge, specifically when it comes to non-personal customers’ onboarding and monitoring. It is often a situation in which one team handles certain areas of compliance across the group and escalates it to the country AML/CFT officer while having to comply with different regional and product-related compliance obligations. This makes AML/CFT compliance training about allocating your resources efficiently, focusing on jurisdictional details, and the ML/TF risks faced in each country of operation. Our AML/CFT compliance training solutions include, but are not limited to:
- Standardised training programs across multiple entities
- Adaptation to multi-jurisdictional AML/CFT requirements
- ML/TF risks identified in your jurisdictional AML/CFT risk assessment
- Alerts and red flags specified in a specific AML/CFT Program or/and procedure for each country of operation
- Efficiency in AML/CFT management across the group
AML/CFT Training Solutions for Company Groups
Managing AML/CFT compliance across multiple jurisdictions can be a complex challenge, specifically when it comes to non-personal customers’ onboarding and monitoring.
Often, one team manages certain areas of compliance across the group, escalating issues to the country AML/CFT officer while adhering to different regional and product-related compliance obligations. This makes AML/CFT compliance training about allocating your resources efficiently, focusing on jurisdictional details, and the ML/TF risks faced in each country of operation. Our AML/CFT compliance training solutions include, but are not limited to:
- Standardised training programs across multiple entities
- Adaptation to multi-jurisdictional AML/CFT requirements
- ML/TF risks identified in your jurisdictional AML/CFT risk assessment
- Alerts and red flags specified in the specific AML/CFT Program or/and procedure for each country of operation
- Efficiency in AML/CFT management across the group
AML/CFT Training Solutions for High-Risk Corporates
High-risk corporates face heightened regulatory scrutiny and reviews. With years of experience helping high-risk corporations maintain AML/CFT compliance and go through AML/CFT audits and reviews successfully, we understand that generic training may not always work. Our focus includes, but is not limited to:
- Enhanced due diligence and transaction monitoring training
- Advanced AML/CFT risk awareness programs
- Tailored training for high-risk industries and jurisdictions
- Tailored training for each key role, linked to your skills matrix, with consideration of AML/CFT risk concentration
- Training programs and materials that are based on both relevant and complex cases
