An AML training program should include which requirement?

Question

Options

• ANew tellers should receive training after their first year on the identification of suspicious or
• BNew lending staff should receive annual training on the preparation of currency transaction
• CNew staff should receive training during employee orientation or shortly thereafter on bank
• DNew operational staff should receive training shortly after hire on currency transaction reporting

• A
  6% (3)
• B
  4% (2)
• C
  73% (36)
• D
  16% (8)

Explanation

According to the Anti-Money Laundering Specialist (the 6th edition) study guide, an AML training program should include the requirement that new staff receive training during employee orientation or shortly thereafter on bank procedures. This is because new staff need to be aware of the bank's policies and procedures for complying with the money laundering regulations, such as customer due diligence, transaction monitoring, record-keeping, and reporting of suspicious activities. Training new staff as soon as possible also helps to reduce the risk of human errors or oversights that could facilitate money laundering or terrorist financing.

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