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Staff members that are affected by ML/TF risks should understand the business's AML/CTF policies, methods and processes to manage the ML/TF risk and the importance of implementing and maintaining a program.
AML/CTF Rules |
| Part 8.2 of the AML/CTF Rules specifies that Part A of an AML/CTF program must include an ML/TF risk awareness training program for employees that meets the requirements set out in the AML/CTF Rules. The training program should be designed to give appropriate training at appropriate intervals for the ML/TF risk that your business may reasonably face. The term 'employees' includes agents and consultants who carry out functions connected with the designated services provided by your business. |
Part A of your AML/CTF program should detail how your business will ensure employees are aware of:
- their obligations under the AML/CTF Act and Rules
- the consequences of non-compliance
- the nature and consequences of ML/TF risk they may reasonably face
- the processes and procedures in the AML/CTF program that are relevant to their role.
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