Anti-money laundering, the processes and procedures surrounding the requirements and the changing regulatory and legal requirements have been one of the prevalent topics in iGaming for the past 2 years.
Let’s take a closer look at this changing environment, and how on-going training can benefit you, your business and your employees.
While it is, of course, important and a regulatory licensing requirement to train staff in the Prevention of money laundering, what happens after the initial training has been completed?
Immediately following a training session, teams are usually more alert to suspicious behaviour and more inclined to file internal reports. However, as time passes and the processes surrounding the anti-money laundering procedures become routine.
This is where the Refresher training can benefit these teams immensely as it reminds them of the main points of the initial training, as well as providing insight and information on the ever-changing regulatory landscape.
Furthermore, AML is a complex topic and on-going reminders and updates in training can prove a critical factor in maintaining the integrity of your AML program.
For certain roles within the organization, a yearly refresher is also a mandatory requirement, much in the same way as certain certifications require constant learning in order to maintain.
A last factor to consider, especially for the Malta operator is the fact that the updated regulations are still being released via draft and consultation versions, and keeping up with what the new requirements are likely to be is an invaluable tool in the preparation process for AML-readiness.
Author: Wendy Zitzman
Wendy Zitzman has worked in a fraud, payments and compliance capacity across the digital sector since early 2003. In 2008 she made the switch into iGaming and since then, has worked in several international companies.
Wendy is currently with iGaming Academy where her role includes the sourcing of new topics, trainers and content partners. Having amassed a wealth of experience and knowledge in the Fraud & Payments, AML structures and procedures as well as the area of Responsible Gaming, Wendy is also an experienced trainer and delivers the iGaming Academy’s Anti- Money Laundering training course.
