Money Laundering Awareness
This course shows users how to assess the risk of money laundering in their business, report suspicious transactions or activities, what the everyday responsibilities under the money laundering regulations are and the measures that can be taken to protect businesses against the risk of money laundering.
Duration: 1-2 hours
Course type: eLearning
Number of candidates: 1 per licence
- Understand money laundering regulations
- Understand the importance of a risk assessment
- Recognise the importance of nominated officers and staff training
- Recognise and understand how to report suspicious actions or activities
- Explain the three stages of money laundering
- Identify which business sectors money laundering regulations apply to
- Outline the use of a ‘risk-based’ approach to preventing money laundering and list the five stages of a risk assessment
- Apply customer due diligence measures in appropriate circumstances
- Complete a policy statement for your business detailing your approach to preventing money laundering
- Outline the role of the nominated officer
- Recognise suspicious transactions and submit a Suspicious Activity Report if necessary
- Outline offences relating to money laundering under the Proceeds of Crime Act 2002
Who needs this qualification?
Any business who is rich in cash such as pubs, clubs, restaurants and casinos.
Why is this training important?
This course is essential to understand the everyday responsibilities under the money laundering regulations, which have been set in place to protect businesses from being used for criminal activities.
Individuals who work with accounts, book-keeping and businesses where large sums of money are dealt with should take this course. Working within this regulated sector means businesses have to legally put in place systems and preventatives of potential financial crime from occurring such as money laundering.
Learners will be assessed throughout the course, with a total of 15 questions.
70% of the questions will need to be answered correctly in order to pass and receive a certificate.
eLearning is purchased on an individual cost per licence basis and one licence is needed per candidate that you require to be trained. Licences can be pre purchased as part of one of our bundles. To view our bundles visit our Training page.