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ONLINE COURSE
Anti-Money Laundering Training Online
Our online anti-money laundering training explains what money laundering is, the law behind it, the red flags to look for, customer due diligence, and the internal controls and reporting that stop it. It’s for staff in businesses covered by the Money Laundering Regulations, and anyone whose work involves handling money. It’s CPD-accredited and self-paced, with a certificate on completion, and the first module is free to try.
- IOSH Approved Training Provider 4301
- Highfield Approved Centre 17588
- Reply within one working day.
Photo: Anastassia Anufrieva on Unsplash
The Short Answers
What is anti-money laundering training?
Anti-money laundering (AML) training teaches staff what money laundering is, how criminals try to use legitimate businesses to clean money, the warning signs to look for, and what to do if something looks wrong. It covers the law, customer due diligence, record keeping and how to report a concern inside your business.
Is AML training a legal requirement?
Yes, for businesses covered by the Money Laundering Regulations 2017. Regulation 24 requires them to make relevant employees aware of the law on money laundering, terrorist financing and proliferation financing, to give them regular training in recognising and dealing with suspicious transactions, and to keep a written record of that training.
Which businesses are covered by the regulations?
Regulation 8 lists them: banks and other financial institutions, auditors, insolvency practitioners, external accountants and tax advisers, independent legal professionals, trust or company service providers, estate and letting agents, high value dealers, casinos, art market participants and cryptoasset businesses. Each has a supervisor, such as the FCA, HMRC or a professional body.
Course facts
- Format
- E-learning approved by CPD and Institute of Hospitalityonline, self-paced, on any device
- Duration
- About 50 minutes2 CPD units
- Who it’s for
- Staff in businesses covered by the Money Laundering Regulationsand anyone whose work involves handling money or customer checks
- Certificate
- Certificate on completion
- The law
- Money Laundering Regulations 2017, regulation 24relevant employees must be regularly trained
- Price
- £35 + VATper learner. Team pricing available.
- Free trial
- First module freetry it before you buy
What the Anti-Money Laundering Course Covers
Five short video modules, each with questions to check understanding (70% pass mark).
Introduction
What money laundering is, what leads to it, and the effect it has on people, businesses and the economy.
The Law
The key legislation, the “regulated sector” as defined by the Proceeds of Crime Act, and how money laundering relates to other offences.
Money Laundering
Offences including tax evasion, theft, fraud, bribery and terrorist financing, and the red flags that could indicate illegal activity.
Due Diligence
How the regulated sector fights money laundering through compliance, due diligence and record keeping, and the regulators you can consult.
Internal Controls and Monitoring
Policy statements, effective reporting systems and staff responsibilities for spotting the signs and reporting concerns.
What Regulation 24 Asks of You
Regulation 24 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 says a business in scope must:
- take appropriate measures so that its relevant employees, and agents doing that kind of work, are made aware of the law on money laundering, terrorist financing and proliferation financing, and of the data protection rules that apply;
- regularly give them training in how to recognise and deal with transactions and situations that may be related to money laundering;
- keep a written record of the measures taken, especially the training given.
A relevant employee is anyone whose work affects compliance, or who could help identify, prevent or detect money laundering. What’s appropriate depends on your business’s nature, size and risks, and you can take account of guidance from the FCA or your supervisor. HMRC’s guidance adds that your policy statement should include a commitment to training employees, and that training records are part of the records you keep.
Is an Online AML Course Enough?
It’s a solid, recorded foundation for every relevant employee. It isn’t the whole of your training. The course teaches the general principles, so pair it with a short briefing on your own policies, controls and procedures: who your nominated officer is, how to report internally, and the risks in your sector. Your supervisor may publish its own guidance on what it expects, so check it. If you’re the nominated officer, look for more in-depth training as well. Our guide to training needs analysis can help you match training to each role.
Try before you buy
Try the First Module Free
See how the Anti-Money Laundering course works before you pay. Tell us where to send it and we’ll give you free access to the first module straight away.
Sources
- Money Laundering Regulations 2017, regulation 24: Training (legislation.gov.uk)
- Money Laundering Regulations 2017, regulation 8: Application (legislation.gov.uk)
- HMRC: Your responsibilities under money laundering supervision (GOV.UK)
- HMRC: Who needs to register for money laundering supervision (GOV.UK)
Ways to Take This Course
Buy for one person in a couple of minutes, or talk to us about a team.
CLARITY
Common Questions
How often should AML training be done?
Regulation 24 says relevant employees must be regularly given training, but it doesn’t set a fixed interval. Decide based on your business’s size, nature and money laundering risks, and on your supervisor’s guidance. Refresh it when the law, your risk assessment or someone’s role changes, and keep a written record each time.
Who counts as a relevant employee?
Under regulation 24, an employee whose work is relevant to your compliance with the regulations, or who could otherwise help identify, reduce, prevent or detect money laundering, terrorist financing or proliferation financing in your business. Depending on your business, that may include front-line, finance and onboarding staff as well as managers.
Is this course suitable if we’re not in the regulated sector?
Yes. The course is suitable for anyone working in an organisation that handles large amounts of money, and as an introduction for people working or planning to work in a regulated sector. Training staff is also one way to show you’re actively working to identify and discourage money laundering.
Does the course replace our own AML policy?
No. The regulations expect you to have your own policies, controls and procedures, based on your own risk assessment. Use this course to give everyone the general knowledge, then brief staff on your internal procedures, including how to report a suspicion to your nominated officer.
Can we train our whole team and keep records?
Yes. Enrol everyone on our e-learning platform, see who has finished and download certificates, which helps with the written training record regulation 24 asks for. Use the form on this page and we’ll send team pricing within one working day.
Get Team Pricing
Training more than a few people on Anti-Money Laundering? Tell us how many and we’ll send team pricing within one working day.
- IOSH Approved Training Provider 4301
- Highfield Approved Centre 17588
- Reply within one working day.
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