AML/CFTR 6.2.2 Training must be maintained and reviewed

(1) A firm's AML/CFT training must include ongoing training to ensure that its officers and employees:
(a) maintain their AML/CFT knowledge, skills and abilities;
(b) are kept up to date with new AML/CFT developments, including the latest money laundering and terrorism financing techniques, methods and trends; and
(c) are trained on changes to the firm's AML/CFT policies, procedures, systems and controls.
(2) A firm must, at regular and appropriate intervals, carry out reviews of the AML/CFT training needs of its officers and employees and must ensure that the needs are met.
(3) The firm's senior management must promptly:
(a) consider the outcomes of each review; and
(b) if a review identifies deficiencies in the firm's AML/CFT training — prepare or approve an action plan to remedy the deficiencies.
Note It is the MLRO's responsibility to monitor the firm's AML/CFT training programme (see rule 2.3.4 (f)).
Derived by QFCRA RM/2019-8 (as from 1st February 2020)