This week, to end the 3 month series on AML/CFT essentials, I prepared a small booklet with tips for those whom are/will be involved in conducting training on similar topics in banking compliance, especially in AML/CFT. Click the picture to access the resource. Hope you find it useful. Stay tuned to the blog.... I will be starting a new series next week!
Last week we looked at some of the key topics we need to teach in order for the class to be equipped in their understanding of AML/CFT. We covered a few sub topics under the larger umbrella of Customer Due Diligence (CDD), as the first part of a bank's main responsibilities when it comes to AML/CFT. In general, there are 3 basic areas that a bank needs to be adept in: a. Performing quality Customer Due Diligence (CDD) to know sufficient about their customers in order to asses
Based on last week's post, we looked at some of the ways an AML/CFT class can be conducted for high levels of engagement, learning, retention and understanding. Now we want to focus on what are some of the key topics we need to teach in order for the class to be equipped in their understanding of AML/CFT. In general, I feel there are 3 basic areas that a bank needs to be adept in: a. Performing quality Customer Due Diligence (CDD) to know sufficient about their customers in o
For the past month or so, I have highlighted the official stuff: the regulations, the guidelines, the details within the guidelines and how and what a Malaysian bank / financial institution / Reporting Institution (RI) is supposed to comply with. Then, in the past 2 weeks we looked at the training requirements and also some way we can set up a basic training framework to meet those requirements. In the next month or so, I would like to dwell further into the following questio
Last week we saw what are the Training requirements for banks under the BNM guidelines on AML/CFT. Today we want to spend some time looking at a basic framework that can be set up to meet the requirements. Let me start by listing the requirements: 1. Awareness and Training Programs (Program) 2. Regularly, supplemented by refresher courses (Time factor) 3. Employees need to know potential for personal liability for non observance (Topics to cover) 4. Training to be according t