| The USA PATRIOT Act requires that all financial institutions in America have in place anti money laundering training programs. The Patriot Act was enacted following the terrorist bombings in America on 9/11 and was designed to extend the anti money laundering regulations that were already in place in order to make it harder for money laundering to take place. The act required that financial institutions in America put in place training programs to ensure that all relevant staff understood their role in preventing money laundering.
There are a number of key requirements of the USA Patriot Act. The first, already referred to, is that all staff must be trained. The second extended the Know Your Customer requirements. The third extended the Suspicious Activity Reporting. The fourth set out specific requirements in respect of foreign correspondent banks of US financial institutions.
Wide Learning has a number of relevant training programs, which can be used anywhere in the world that people want to know and comply with the USA Patriot Act. Firstly, there is a solid and comprehensive introductory course, which is designed to ensure that staff at all levels in an organisation have a good understanding of the all the key issues within the Patriot Act. Then there are separate programs for broker dealers and banks, and these are designed to provide more in depth training on specific areas within the Patriot Act, so that different components can be used by different parts of an organisation.
Wide Learning's USA Anti-Money Laundering programs deal with the key issues raised by this Patriot Act legislation.
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