On my travels to visit Pubs and Clubs, I often come across staff that haven’t been adequately trained in AML/CTF and are really not sure of what to look out for.
They also are not aware of their important role in keeping the venue safe from money laundering activities.
Your staff are the eyes and ears of the venue. It’s so important for them to be aware of the potential avenues for money laundering, what the red flags are and how to report this information safely and promptly.
They also need to know what they can and can’t do – such as tipping off a suspect, and that they can be personally prosecuted by AUSTRAC if they do this.
I also get asked the question – “why do I need to provide a board report monthly?What do the board have to do with our anti money laundering controls?”
Just like the WHS Act where the Officers of the company can be up for industrial manslaughter if a fatality occurs at your workplace, it is your board who AUSTRAC will be prosecuting for major AML breaches. In answer to that question…they really need to be kept in the loop, understand their obligations and ensure the controls are in place from a strategic and operational perspective.
To this end, I have created two online courses for AML Awareness. One for staff and one for board members.
The courses are specifically created to provide practical and relevant information, aimed at each audience. The courses are available through DWS’ training partner, CTA Training Specialists, and are available to complete online at your convenience.
Access our courses below:
