Anti money laundering training teaches participants about money laundering, what counts as money laundering, how to identify money laundering, and how to prevent it. It could be a legal requirement in certain industries to get or maintain your license, or to remain compliant with current regulations. You can take an anti money laundering course online or in-person.
Anti money laundering training is a good first step in preventing money laundering from impacting your organization. However, it is only one part of a comprehensive AML program. There must be processes in place that can help to enforce rules and monitor for fraudulent transactions, too. This includes transaction monitoring software, limiting access to funds to a smaller group of people, and increasing transparency in financial actions. International authorities such as FATF and world bank are collaborating with national authorities such as FINCEN, FINTRAC, FCA, FINMA, etc. and state banks to control money laundering.
AML training is an important part of preventing fraud and implementing anti money laundering checks. With increased focus on anti money laundering compliance in many industries, whether in finance, insurance, or other corporate enterprises, working with AML compliance consultants can be a good first step in getting your entire team into AML training and complying with any anti money laundering act that impacts your business.
An effective AML employee training program is one of the important pillars of AML Compliance Program and is a crucial component for bank and non-bank institute. It helps to maintain global compliance with the Bermuda Bank regulation.
Appropriate AML training must be provided to every personnel in an organization. The program should include appropriate methods for conducting ongoing customer due diligence, including complete understanding of the nature of customer relationships for the purpose of developing a customer risk profile.
SILO Compliance creates intuitive AML training and compliance solutions developed by former compliance professionals that have hands-on experience implementing and managing compliance programs. This enables SILO Compliance to sell solutions that meet the evolving standards for AML regulations so you don’t have to worry about trying to keep up with any new laws on your own. We can help you to comply, create documentation, and train your staff on anti money laundering best practices.
As the world becomes ever more connected on a global scale, the chances that your company will experience some type of money laundering continues to increase. Money laundering is a threat that is persistent and pervasive but can be stopped with the right policies and procedures in place. Let SILO Compliance help you build the AML program that your company needs to fight money laundering and protect itself from the legal and financial problems that could follow. Call SILO Compliance at +1 501-422-8030 to discuss how we can help you
SILO Compliance is a comprehensive and simple anti money laundering compliance solution that’s perfect for individual professionals and large teams. It includes training, streamlined dashboards, and ongoing AML monitoring features. It can reduce the time you waste updating spreadsheets for customer due diligence obligations and the number of software programs you must maintain.
AML compliance will continue to be a big part of your business, well after you go through anti money laundering compliance training. Fortunately, SILO Compliance makes it easy to almost seamlessly integrate AML best practices into businesses of all sizes. This applies even if you operate a company on your own as the only employee, as an insurance agent or financial planner. We have the right, scalable solutions for you.
Call SILO Compliance at +1 501-422-8030 to schedule a consultation. We can help you make AML compliance simpler, easier, and less intrusive to your other operations.Request Demo