1. Employee AML Training
Businesses must conduct regular and role-based training programs to ensure employees understand AML obligations, red flags, and procedures.
- Purpose: Helps employees identify and report suspicious activities related to money laundering and financial crimes.
- Role-Based Training: Tailored programs for different departments, such as compliance officers, finance teams, and customer service staff.
- Regulatory Compliance: Training must align with UAE AML/CFT laws to meet legal requirements.
- Ongoing Education: Employees should receive annual refresher courses to stay updated on evolving AML risks.
2. Training Logs & Certificates
Businesses must maintain records of AML training for regulatory inspections and audits.
- Documentation Requirements: Companies must keep attendance records, training materials, and completion certificates.
- Audit Readiness: Proper record-keeping ensures businesses can demonstrate compliance during regulatory reviews.
- Certification Standards: Employees should receive official certificates upon completing AML training programs.
- Regulatory Oversight: Authorities may request proof of training to verify compliance with AML regulations.