Home > News > June 2006 > 15-Jun-2006

BBA launches new anti-money laundering training

The British Bankers' Association (BBA), in partnership with Absolutely Training, has launched a new version of their online anti-money laundering (AML) training programme.

The BBA says the new courses were written in accordance with the recently revised Joint Money Laundering Steering Group (JMLSG) guidance and are designed to help firms adapt to the industry's new 'risk-based' approach to AML - focusing firms' resources on those regions, products and customers likely to carry the greatest risk - before the guidance takes effect on August 31st.

Nigel Shattock, executive director of the BBA said: "The new programme explains the impact and implications of a risk-based approach, the importance of customer knowledge on an ongoing basis and how to report suspicious activities. It also reflects recent changes in the FSA's approach to anti-money laundering.

"Staff are a firm's first line of defence in the prevention of money laundering. This programme will provide the appropriate training at all levels to help keep these defences strong."

Shaun Walsh, course director at Absolutely Training commented: "The online learning programme offers a range of modules for firms to mould to their own risk assessments. The concept of 'one- size fits all' training is on borrowed time.

"Tailoring courses to tackle the risks that are appropriate to a firm's business provides better results for firms and their stakeholders. Additionally users will be much more responsive to material that reflects their job role."

External link

For further information, visit: www.bbae-learning.com

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