Access Our Courses on Skillcast Plans
Our compliance training courses are available across Skillcast plans. Our plans cover businesses with small to large teams and offer a mix of tailored and off-the-shelf courses.
We have three plans available; simply choose the one that meets your needs below.
CoreCompliance
Skillcast CoreCompliance plan provides your own portal pre-loaded with the key compliance courses needed in your sector. It's the most comprehensive and cost-effective compliance training solution on the market for teams of up to 50 staff.
Prices start from £349 for 12 months.
Standard Plan
Skillcast Standard is a flexible plan for building your digital compliance portal. You start with our award-winning Learning Management System and select one or more course libraries to train your staff.
Later, you can add the Policy Hub for policy attestations, DSE self-assessment, Gifts and Hospitality register, and other features to streamline staff compliance.
Premium Plan
Skillcast Premium combines our innovative technology tools and features into one simple solution. The premium plan is designed for companies that want a fully featured, branded and managed portal to transform their staff compliance.
It enables you to create comprehensive user journeys to deliver learning and policies, obtain declarations and submissions, and consolidate data to achieve your compliance outcomes.
More on AML & CTF
For decades, authorities in the UK, EU, and other regions have consistently introduced and intensified AML legislation and regulations. Yet money laundering and terrorist financing are as big a threat as ever. That's why regulators expect companies to continue improving their prevention measures. This encompasses a full spectrum of initiatives, from enhancing awareness and providing training to facilitating due diligence and encouraging reports of suspicious activities.
UK companies operating in sectors governed by Money Laundering Regulations must register with a supervisory authority, such as the FCA for regulated financial services firms, HMRC, or their professional body. These authorities offer broadly similar guidance to the companies they supervise on preventing money laundering and terrorist financing.
The regulations mandate that senior managers within your company oversee AML/CTF compliance and hold them personally liable if they fail to take the necessary measures to protect the business from money laundering and terrorist financing.
AML & Whistleblowing
Blowing the whistle about internal and external malpractices is vital for the functioning and survival of companies.
Whistleblowing is the process by which employees can report suspected or actual improper conduct. It is done in confidence or anonymously, which is vital as staff may feel unsafe or unable to report such behaviour to management.
A solution is to create an online whistleblowing register, enabling your employees to report any suspicion or knowledge of AML/CTF breaches anonymously.
AML Training
The regulations mandate that you provide comprehensive training to your employees and agents to ensure they are fully aware of the risks associated with money laundering and terrorist financing. This training must cover relevant legislation and their specific obligations under the law. Additionally, employees and agents must be informed about the identity of the nominated officer, their responsibilities concerning Customer Due Diligence (CDD), and the process for submitting Suspicious Activity Reports (SARs).
Training sessions must be conducted regularly, with a minimum frequency of every two years, to keep everyone updated on any legislative changes or emerging risks. Furthermore, you are required to maintain detailed records of all training activities. These records should include the dates of training sessions, the content covered, and the names of all participants. This documentation serves as evidence of compliance and ensures that your organisation can demonstrate its commitment to preventing money laundering and terrorist financing.
However, the repeated training that's required to comply can cause staff fatigue. Therefore, Skillcast provides its clients with an array of AML/CTF courses to help keep their staff aware and engaged on this risk.
AML & Policy Attestations
The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations necessitate the development and upkeep of comprehensive written policies, controls, and procedures. These documents should clearly outline how your business intends to manage and mitigate the risks of money laundering and terrorist financing as identified in your risk assessments.
To ensure these measures are effective, it is crucial that they are thoroughly communicated to all employees. This includes providing immediate and clear explanations to new hires during their onboarding process. Employees must be given ample opportunity to review these documents and should be encouraged to ask questions to ensure full comprehension.
Furthermore, it is essential to obtain a formal acknowledgement from all staff members, affirming that they understand and commit to adhering to these policies, controls, and procedures. Regular reviews and updates should be conducted to keep these documents current with any regulatory changes or new risk factors.
Maintaining records of these communications and acknowledgements is critical. This not only demonstrates compliance but also reinforces the importance of these protocols in safeguarding the integrity and security of your business operations. This proactive approach helps create a culture of compliance and vigilance against money laundering and terrorist financing within your organisation.
With Skillcast's online Policy Hub you can require employees to review and attest all the relevant policies in a timely and efficient manner. Therefore, you can evidence to your supervisory authority.
SAR Register
A fundamental aspect of AML and CTF compliance is ensuring that your staff and agents are well-trained to identify suspicious customers and transactions. They must be knowledgeable about the specific indicators of suspicious activity and understand the protocols for reporting these suspicions to your designated officer.
To foster a culture of diligence and responsiveness in filing Suspicious Activity Reports (SARs), consider implementing an online SAR register. This tool can streamline the reporting process, making it easier for employees to submit their observations promptly and accurately.
An effective online SAR register should offer a user-friendly interface that guides employees through the reporting process, ensuring all necessary details are captured comprehensively. Additionally, the system should facilitate the categorisation of SARs based on the nature and severity of the suspicious activity reported. This allows for efficient triage and ensures that each report is followed up appropriately.
Moreover, it is crucial to establish robust channels for the submission of SARs. These channels should be secure, ensuring the confidentiality of the information reported and protecting the identities of the reporters. A well-organised SAR management system can help track the status of each report, provide feedback to the reporting employees, and ensure that follow-up actions are timely and effective.
Regular training sessions should be conducted to keep employees updated on the latest trends in money laundering and terrorist financing, as well as any changes in reporting requirements. This training will reinforce the importance of vigilance and accuracy in the reporting process, thereby enhancing the overall effectiveness of your AML/CTF compliance programme.
By implementing these measures, you can ensure that your organisation not only meets regulatory requirements but also actively contributes to the global fight against financial crimes.
The Skillcast Declarations Tool helps you to manage your SARs efficiently and analyse the data over time to ensure compliance with your AML/CTF policies, controls and procedures.
AML Compliance Resources
We've created a comprehensive AML roadmap to help you navigate the compliance landscape, supported by several financial crime prevention courses in our Essentials Library.
We also have 100+ free compliance training aids, including assessments, best practice guides, checklists, desk aids, eBooks, games, posters, training presentations and even e-learning modules!
Finally, the SkillcastConnect community provides a unique opportunity to network with other compliance professionals in a vendor-free environment, priority access to our free online learning portal and other exclusive benefits.
