BBA offers online money laundering prevention training
30 August 2001 | 2701 views | 0
The British Bankers Association (BBA) is introducing a new e-learning programme which will provide online training in money laundering prevention to the financial services industry.
The new training package, available over the Internet from October, is the result of a joint venture between the BBA and online financial training provider Absolutely Training Ltd (ATL).
The package has been designed to provide training for all levels of staff working in the financial services industry, including banking, legal, insurance and accountancy sectors, through three targeted modules. The programme will be supported by a formal examination and accreditation process.
Paul Fegan, managing director of Absolutely Training, says: "The training is designed to include a large amount of interactive content, which increases an employee's retention rate and results in more effective training."
Testing occurs during and at the end of the course with results recorded centrally, giving a firm an audit trail that they have met their obligation to provide training in this area, he says.
Ian Mullen, chief executive of the BBA comments: "London is one of the largest financial centres in the world, handling billions of pounds worth of transactions every day...it is essential that every member of staff within all financial institutions is alerted to the possibility of money laundering activities."