With money laundering costing economies an estimated $5.5 trillion each year, according to research by Napier AI, ensuring your organisation provides effective anti-money laundering (AML) compliance training is non-negotiable.
Below, we explore how to achieve that, using Skillcast’s managed services for your financial crime compliance management.
Key takeaways
- Maintaining effective AML compliance training programmes in-house can be resource-intensive and hard to scale, so managed services from providers like Skillcast are invaluable.
- Anti-money laundering compliance training includes topics such as CDD, EDD, SARs, identifying suspicious transactions and internal escalation procedures.
- Managed services for anti-money laundering compliance training are specialised outsourced solutions covering areas such as content creation and updates, LMS hosting, reporting and audit support, and analytics.
- Managed services for AML compliance training are important for several reasons, from regulatory compliance, risk reduction and cost efficiency to improved training quality and reduced operational burden.
- Managed services intersect with employee monitoring indirectly but crucially, by tracking learning behaviour, policy acknowledgement and regulatory compliance readiness.
- Skillcast is a strong vendor for managed AML compliance training because we offer many features, including off-the-shelf AML compliance e-learning content, customisation and branding, a fully managed learning platform (LMS), dedicated CSMs, a compliance breach register where staff can log AML-related breaches, and a 24/7 artificial intelligence digital assistant.
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Skillcast’s AML compliance training includes in-depth, refresher, express and microlearning courses, such as Anti-Money Laundering and Counter-Terrorist Financing and Financial Crime Prevention. Bridge knowledge gaps through Diagnostic Assessment, Nudge Learning and FastTrack pathways to ensure employees receive the right level of AML training based on their risk profile and performance.
Managed compliance services for anti-money laundering training
- What is AML compliance training?
- What are managed services for AML compliance training?
- Where do managed services come into play with staff monitoring?
- Why Skillcast is a strong vendor for managed AML compliance training
- Managed services for AML compliance training: FAQs
AML compliance is a critical responsibility for businesses operating in regulated industries such as financial services and legal sectors. As regulatory expectations grow increasingly complex and enforcement increases, you must ensure your employees are trained to detect and prevent financial crime.
But maintaining effective AML compliance training programmes internally can be resource-intensive and hard to scale. That’s where managed services from vendors like Skillcast come into play. They combine regulatory expertise and technology platforms with operational support, helping you deliver high-quality, up-to-date training and employee monitoring, without the burden of building everything in-house.
What is AML compliance training?
Anti-money laundering compliance training is a structured learning programme that helps staff understand laws, regulations and internal procedures around preventing financial crime. Topics generally covered include:
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Definition of money laundering
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Legal and regulatory frameworks
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Identifying suspicious transactions
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Enhanced due diligence (EDD)
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Reporting obligations, such as Suspicious Activity Reports (SARs)
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Sanctions compliance
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Internal escalation procedures
Regulators and supervisory bodies, such as the Financial Conduct Authority (FCA), expect companies to deliver role-specific, regular and auditable AML compliance training. Failure can result in fines, reputational damage and operational restrictions.
Did you know?According to the National Crime Agency: "It’s highly likely that over £12 billion of criminal cash is generated annually in the UK. It’s a realistic possibility that over £100 billion is laundered through and within the United Kingdom or UK-registered corporate structures each year." |
What are managed services for AML compliance training?
Managed services for anti-money laundering compliance training are specialised outsourced solutions, where providers design, deliver, update and monitor AML programmes on your behalf.
Rather than only purchasing e-learning content or a learning management system (LMS), you receive ongoing operational support. With that in mind, managed compliance services typically include:
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Content creation and updates aligned with regulatory changes
- LMS hosting and administration
- Training assignment and automation
- Reporting and audit support
- Localisation and role-based customisation with the option of translating content into different languages based on location
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Learning analytics and effectiveness tracking
Some vendors partner with you to develop bespoke compliance training, ensuring a perfect fit for your unique requirements.
Why are managed services for anti-money laundering compliance training important?
Managed services for AML compliance training are valuable for numerous reasons:
- Regulatory compliance and risk reduction
- Rapid adaptation to changing regulations
- Cost efficiency
- Improved compliance training quality
- Reduced operational burden
- Audit readiness and automated documentation
- Expertise and industry benchmarking
- Faster implementation
Where do managed services come into play with staff monitoring?
Employee monitoring is the tracking and analysis of people’s work activities, usually via software or digital tools. It helps businesses understand productivity, security and operational efficiency.
Managed services for AML compliance training connect to employee monitoring indirectly but vitally, especially in regulated industries such as banking, fintech, insurance and crypto.
How? Managed compliance services track learning behaviour, policy acknowledgement and regulatory compliance readiness.
They intersect with staff monitoring by:
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Checking compliance behaviour instead of technical activity>
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Generating audit evidence and regulatory reports
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Integrating with human resources, risk and security monitoring
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Automating reminders and escalation (managed oversight)
Furthermore, by outsourcing content and regulatory updates to a vendor, you reduce the internal compliance workload while maintaining visibility into staff compliance status.
Why Skillcast is a strong vendor for managed AML compliance training
Skillcast provides managed compliance services for AML topics as part of a broader training platform. We offer the following:
- Structured AML learning journeys: Skillcast enables you to deliver AML compliance as a cohesive, end‑to‑end journey. Using learning paths, you can combine AML e-learning, policies, attestations, manager‑led check‑ins, and other mandatory activities into a single sequenced pathway. This ensures employees know exactly what to complete, in what order, and why -reducing confusion while improving completion quality.
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Off-the-shelf AML compliance e-learning content: A library of ready-made online courses explicitly covering AML and other financial crime topics that organisations can assign to staff.
- Customisation and branding: Bespoke anti-money laundering training solutions tailored to an organisation's policies, language(s), branding, etc.
- Fully managed learning platform (LMS): Cloud-based learning management system to deliver, track and report on compliance training, provided as a hosted, maintained service.
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Skillcast Compliance Portal: A "data-led, holistic solution to track progress and demonstrate compliance to regulators," available in Standard, Enhanced and Premium plans.
- Dedicated Customer Success Managers (CSMs): They assist with onboarding, portal branding, course assignment and ongoing product support, ensuring your compliance programme runs smoothly.
- Aida by Skillcast: Your digital artificial intelligence assistant designed specifically for compliance training, "focusing solely on delivering information pertinent to your organisation's policies".
Our off-the-shelf Financial Crime and Anti-Money Laundering Training Package “prepares your team to spot potential threats, understand their role in preventing financial crime, and adhere to vital regulations to maintain a strong compliance culture”. Courses span in-depth, refresher, express and microlearning, including:
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Anti-Money Laundering and Counter-Terrorist Financing (Continuing Professional Development – CPD – accredited)
- Anti-Money Laundering (non-financial services version)
- Financial Crime Prevention
- Money Laundering and Terrorist Financing Risks of Virtual Assets
Skillcast case study: Jupiter
Asset management firm Jupiter chose Skillcast to help refine and evolve their staff compliance training and improve efficiency.
"Having the tools to analyse our staff training to identify trends, breaches and policy violations and map this to training subjects has been invaluable."
Using our compliance management solution for topics such as anti-money laundering, Jupiter can now make the most of:
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Risk-based training frequency
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Data-driven insights and automation
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Continuous improvement
To find out more about what we offer, contact a Skillcast compliance expert today or book a demo. We’ll discuss your challenges and suggest a managed services learning solution that best fits your needs.
Managed services for AML compliance training: FAQs
How often should AML compliance training be conducted?
Annually, for relevant employees, with role-specific training for higher-risk positions such as compliance teams, transaction monitoring analysts and relationship managers. Some organisations also require training during onboarding.
Is AML compliance training mandatory?
In many jurisdictions, regulated businesses must ensure staff receive appropriate anti-money laundering training to detect and prevent financial crime. For example, this applies in the UK under the 2017 Money Laundering Regulations.
How quickly can a managed services AML training programme be implemented?
It typically takes two to six weeks, depending on the number of employees, customisation needs, LMS integration requirements and jurisdictional compliance obligations.
Looking for more compliance insights?
Our Essentials Library contains e-learning content designed to help organisations meet fundamental compliance requirements. If you’re looking for focused training, our training packages offer a complete solution for your compliance programme.
Our e-learning courses are designed to engage employees with our microlearning library, which was created to support knowledge retention.
Our Compliance Portal also features a range of tools to digitise and automate your compliance learning. These include our:
If you'd like to access leading insights and compliance tips, you can browse our free resources by topic to find guides, modules, compliance bites and more.
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References and further reading
BDO, The Three Lines of Defence Model has been updated- what does this mean for Internal Audit?
CPD Standards Office, What is CPD Accreditation?
FCA, Money laundering and terrorist financing
Napier AI, Money laundering costs $5.5 trillion USD across the globe, Napier AI finds
Written by: Emmeline de Chazal
Emmeline is an experienced digital editor and content marketing manager. She has a demonstrated history of working in both the education management and software industries. Emmeline has a degree in business science, and her skillset includes Search Engine Optimisation (SEO), Answer Engine Optimisation (AEO) and digital marketing analytics. She is passionate about education and utilising her skills to encourage greater access to e-learning.
