Autor: Mitchell Souza, CCI – Director of Sales, Capital Compliance Experts


A thorough and efficient training program is one of the most critical aspects for financial services businesses to stay in compliance and mitigate fraud. A good training program enables proper required education throughout your business and ensures compliance becomes a standard in your operation.


The Financial Crimes Enforcement Network (FinCEN) requires, as one of the pillars of an Anti-Money Laundering Program, to “provide education and training of appropriate personnel concerning their responsibilities under the program, including training in the detection of suspicious transactions to the extent that the money services business is required to report such transactions under the BSA.”

Your training program should include how to identify suspicious activity, understanding specific thresholds for additional reporting depending on services, anti-money laundering basics, key terms applicable to your industry, penalties of non-compliance, etc.


For larger or multi-location operations, it’s imperative that you have an automated system for training, as it becomes challenging to manage tens, if not hundreds, of employees.


In addition, when it comes time for your annual Third Party Independent Review, you will be required to show proof that your staff has taken the appropriate training based on their money services responsibilities. This is one of the many reasons why adopting an automated online training platform benefits compliance management.

Here are some features to keep in mind when searching for an effective training platform and content provider:


  • Custom, up-to-date training content, with a relevant library of courses
  • Bulk enrollment capability
  • Automated enrollment and completion email notifications
  • Individual user activity tracking
  • Automated and custom reporting
  • Pass/fail thresholds
  • Easy to reach the customer service team


Adhering to these features will ensure that your training program meets industry standards and will save you both time and money in the long run.


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