AML 12.1.1

A Relevant Person must

(a) provide AML training to all relevant Employees at appropriate and regular intervals;
(b) ensure that its AML training enables its Employees to:
(i) understand the relevant legislation relating to money laundering, including Federal AML legislation;
(ii) understand its policies, procedures, systems and controls related to money laundering and any changes to these;
(iii) recognise and deal with transactions and other activities which may be related to money laundering;
(iv) understand the types of activity that may constitute suspicious activity in the context of the business in which an Employee is engaged and that may warrant a notification to the MLRO under AML Rule 13.2.2;
(v) understand its arrangements regarding the making of a notification to the MLRO under AML Rule 13.2.2;
(vi) be aware of the prevailing techniques, methods and trends in money laundering relevant to the business of the Relevant Person;
(vii) understand the roles and responsibilities of Employees in combating money laundering, including the identity and responsibility of the Relevant Person's MLRO and deputy, where applicable; and
(viii) understand the relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions described in chapter 10; and
(c) ensure that its AML training:
(i) is appropriately tailored to the Relevant Person's activities, including its products, services, customers, distribution channels, business partners, level and complexity of its transactions; and
(ii) indicates the different levels of money laundering risk and vulnerabilities associated with the matters in (c)(i).
Derived from RM117/2013 [VER9/07-13]
[Amended] DFSA RM196/2016 (Made 7th December 2016). [VER13/02-17]