Regulatory Alerts2016-06-08
Financial Crime Supervision and Policy Division Training Thematic Review Report of Findings
The Financial Crime Supervision and Policy Division of the Bailiwick of Guernsey conducted a thematic review of AML/CFT training across 62 firms in 2015. The Commission found that while firms generally maintained good awareness of regulatory requirements, there was a significant disconnect between identified business risks and the actual content of staff training. Additionally, firms within international business groups spent substantially more on training than locally owned entities, resulting in more frequent instruction for their employees.
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