Fighting Money Laundering with Effective Training

By: Stephanie Hodnett

Recently, the Financial Services Authority (FSA) in the U.K. fined Coutts & Company £8.75 million ($14 million) for failing to take adequate action to track and monitor potential money laundering activities.

The importance of having a strict anti-money laundering policy was also highlighted recently when the Milan Branch of JPMorgan Chase closed a Vatican-held bank account due to suspected money laundering activities.

In order for a bank’s compliance department to successfully avoid situations like these, it must be able to explain the importance of its policies and procedures. The best way to achieve this is through an active and effective training program. Many banks have had success with anti-money laundering courses from SS&C Zoologic Learning Solutions.

We offer several courses on the topic, each geared toward a particular audience with particular goals. Our Learning Services group can customize the courses to meet your bank’s particular business needs by creating a unique Learning Path or sequence of courses geared towards a series of topics in compliance or other areas relevant to your firm.

As with the rest of our library of finance courses, our anti-money laundering courses are fully modular and easy to take anytime, anywhere – whether on your desktop computer, your iPad, or other tablet device. We can provide a range of reporting services to ensure you are able to keep track of who has been through the training via your firm’s Learning Management System (LMS) or ours.

Want more information on Zoologic? Download our brochures, request more information or a demonstration or email us at solution@sscinc.com.