Anti-Money Laundering [Non-financial services version]
-
15 Minutes -
For all staff
-
UK
Tough laws exist in most countries to stop the proceeds of crime entering the formal economy, alongside measures preventing terrorist financing through trade payments, investments and remittances. This 15-minute refresher helps staff recall the three stages of the money laundering cycle, stay aware of the offences and penalties under AML legislation, and fulfil their own obligations.
Businesses outside financial services are used as laundering routes precisely because their controls are lighter: large cash transactions, property, high-value goods and professional services all feature. Staff often assume the rules do not reach them. A short annual refresher keeps that misconception corrected and maintains the awareness records regulated non-financial sectors are expected to hold.
What you’ll learn in
this course
- Recognise the three stages of the money laundering cycle
- Be aware of the offences and penalties under anti-money laundering legislation
- Fulfil your obligations in relation to customer due diligence and suspicious activity reporting