Online Anti-Money Laundering Training
Online anti money laundering training is straightforward to deliver to employees and difficult to deliver to everyone else, and in several regulated sectors most of the risk sits with everyone else.
Real estate agencies work with independent agents. Professional practices use contractors and consultants. Franchised networks have staff employed by the franchisee rather than by the brand at the centre.
None of these appear in your HR system, so none are assigned training automatically, and completion reporting looks healthy while a large part of the exposed population has done nothing.
Fix it at enrolment rather than by chasing completions. Build the list from operational systems rather than payroll, make completion a condition of access or engagement, and report by entity rather than as one organisation-wide number.
AUSTRAC publishes guidance for reporting entities. This is general information rather than legal advice, and obligations vary by state and territory.
See Sentrient’s AML/CTF training for real estate and learning management system.
3 Biggest Impacts of Money Laundering
Introducing illegally obtained funds into the stream of legitimate commerce and finance allows criminals to profit from their illegal activity, undermines the financial system, and erodes public trust. 1. Supports criminal activity When criminals profit from illegal activities, they can invest more money into the black-market economy and enable more crimes to be committed. As […]
The 6 Ways That Money Is Laundered
Criminals use diverse methods to launder money which is the proceeds of crimes such as drug trafficking, terrorist activities, and tax evasion. As with other criminal activity, these methods are used to sidestep regulatory and law enforcement measures and to exploit current and emerging channels. 1. Banking system The major channel for money laundering is […]
The 6 Ways That Terrorism Is Financed
How is terrorism financed? A number of channels are likely to pose an increased risk of being misused for terrorism financing. One significant difference between terrorism financing and other crime types is that most terrorism financing in Australia originates from legitimate sources and activities. 1. Banking and remittance Banking and remittance use bank, interbank and […]
New Compliance Course Released – Anti Money Laundering and Counter Terrorism Financing Training
Sentrient is proud to release the new online anti-money laundering (AML) and counter terrorism financing (CTF) course as its latest online course that forms part of a fast-growing and comprehensive suite of online workplace compliance courses for organisations with employees, contractors and volunteers who are based in Australia, New Zealand, Singapore, USA, Canada, UK, and […]
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