Training

A firm’s employees shall receive training to provide them with sufficient knowledge to follow the firm’s anti-money laundering procedures and guidelines.

A firm shall ensure that persons performing duties of significance to preventing the business from being used for money laundering and terrorist financing continually receive relevant training and information. This applies to employees, contractors and other people in the business.

The training shall ensure that employees have sufficient knowledge to ensure that the firm's procedures and guidelines are followed.

The content of the training shall be adapted to the employee's duties and responsibility, and the firm's general risk assessment. The timing of training and supplementary training shall be adapted to what the firm decided in its risk assessment and to any changes to the business or work duties.

The training shall inform of rules and guidelines, but also convey facts about trends, patterns, methods and other aspects with which those concerned might need to be familiar in order to prevent and detect attempts at money laundering and terrorist financing.

A firm shall document the training carried out. The content, list of participants of the training session and date of when it was held shall be included in such documentation.

Last reviewed: 2018-01-29
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