Frequently Asked Questions

Staff Training

Staff training is one of the important elements of an effective system in preventing and detecting money laundering/terrorist financing activities. Without providing operating staff adequate training, the effectiveness of an internal control system will be greatly affected albeit its sophisticated design.
Q1: Staff training is an important element of an effective system to prevent and detect money laundering/terrorist financing activities. What information should be included in the training record?
A1: MSOA suggests the following information should be included in the training record:
(1) Name, outline, category and format of the training course
(2) Date and time of the training
(3) Name of the training instructor and/or organization
(4) Training attendance record of staff
(5) Training materials
Q2: Does AMLO emphasize on staff training?
A2: MSO should provide training to all relevant staff in order to ensure they are made aware of the AMLO. Therefore, our Association suggests members to provide staff training or to sponsor staff to attend related courses and professional certified training in the market (please see related information provided by MSOA).
Please note: (1) Please proceed to our Forum of more discussions in relation to Staff Training; (2) The above information is for reference only.