Why does Wwft training matter?
Wwft training keeps you up to date with current laws and regulations on combating money laundering and terrorist financing. The legislation is constantly changing, and so is what is expected of you and your organisation.
The aim is for employees to recognise unusual transactions and take the right action to prevent money laundering and terrorist financing. They must also be able to carry out client due diligence properly and completely, both when accepting a client (onboarding) and throughout the relationship (periodic or event-driven reviews).
The basics of the Wwft are the same for every organisation. Even so, we recommend aligning the training with your own risk policy and risk class. That way your employees make well-considered decisions.
Who is it for?
Wwft training is mandatory for employees who are involved to a greater or lesser extent in Customer Due Diligence (CDD) activities, and for day-to-day policymakers. This covers:
- employees and their managers involved in assessing the integrity of existing and new clients;
- employees and their managers involved in processing or assessing transactions for clients, which often brings every employee with client contact into scope;
- day-to-day policymakers, as those ultimately responsible for compliance with the Wwft.
Also take a look at the other courses in the Privacy Direct Academy.