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Anti Money Laundering (AML)

Regulation 21 of the Money Laundering Regulations 2007, requires businesses to take appropriate measures so that all relevant employees are:
- Made aware of the law relating to money laundering and terrorist financing
- Regularly given training on how to recognise and deal with transactions and other activities, which may be related to money laundering or terrorist financing.

Businesses should ensure that the frequency of the training is sufficient to maintain knowledge and competence for staff, appropriately applying customer due diligence measures. This will ensure that it is situated in accordance with the business risk assessment for the products and or services that they may offer.

Employees within the regulated sector, who have no knowledge or suspicion of money laundering, even though there were reasonable grounds for suspicion have a defense. That is, if they have not received training from their employers. Employers may be prosecuted for a breach of the Money Laundering Regulations 2007 if they fail to train their staff.

AML is a complex area and can be difficult to understand for those who are not frequently engaged with it. We at Financial Crime Consultants offer a wide range of training ensuring all members of staff are up to date with the latest market standards.

The scope of our AML training includes:
-Tailored training depending on staff experience and company position;
- Interactive state of the art training methods;
- Scenario training with efficient solution building;
- Group and/or one-to-one training sessions; and much more.

FCA Authorization
Ongoing Compliance Support
AML Training
Independent Compliance Audits
Policies and procedures
Software Risk Assessment
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