Sample statutory reqirement for training

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (U.K. Extract)


Training 24.—(1) A relevant person [i.e. a regulated entity] must—

(a) take appropriate measures to ensure that its relevant employees are—

- (i) made aware of the law relating to money laundering and terrorist financing, and to the requirements of data protection, which are relevant to the implementation of these Regulations; and -

(ii) regularly given training in how to recognise and deal with transactions and other activities or situations which may be related to money laundering or terrorist financing;

(b) maintain a record in writing of the measures taken under sub-paragraph (a), and in particular, of the training given to its relevant employees.

(2) For the purposes of paragraph (1), a relevant employee is an employee whose work is—

(a) relevant to the relevant person's compliance with any requirement in these Regulations, or

(b) otherwise capable of contributing to the—

- (i) identification or mitigation of the risk of money laundering and terrorist financing to which the relevant person's business is subject; or

- (ii) prevention or detection of money laundering and terrorist financing in relation to the relevant person's business.

(3) In determining what measures are appropriate under paragraph (1), a relevant person—

(a) must take account of—

- (i) the nature of its business;

- (ii) its size;

- (iii) the nature and extent of the risks of money laundering and terrorist financing to which its business is subject; and

(b) may take into account any guidance which has been—

- (i) issued by the Financial Conduct Authority; or

- (ii) issued by any other supervisory authority or appropriate body and approved by the Treasury.


Since 1994 our face to face training and since 2002 our on-line training has been designed according to these principles.


With Learning Ladders (tm) your employees can now increase the seniority of their training and with additional courses widen the scope of their training.


Note: The 2017 Regulations were amended by the The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 but this Regulation was not affected.

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