Anti Money Laundering (AML) and KYC - E Learning - India

Every training channel has its advantages and disadvantages. Today, we will evaluate how AML E Learning can be an effective tool to manage money laundering.

Firstly, it is important to understand why Banks are at risk from money launderers. The biggest risk is the willingness of the Bank to prevent money laundering. Taking a few cases of international banks, these Banks knowingly allowed money laundering primarily with a business objective of earning larger profits from these transactions. It was a strategic decision.

But leaving aside the business motive, many Banks want to avoid Money Laundering because it is a huge reputation risk. To combat this, a Bank wide awareness of the importance of KYC (Know Your Customer) and AML is very important.

E Learning has the advantage because it can reach the lowest level of employees at very cost effective rates. Imagine training a person in a classroom training at Rs 10,000 for 2 days and then imagine training 10 employees for Rs 1,000 each. The cost is the same, but the coverage is significant.

What is most important is not whether the employees retain what has been taught, rather the fact that they realize the important of AML and are able to appreciate the consequences.

Therefore, we believe that E learning is a very effective tool to create awareness on AML.

For more details on AML Training, please visit following link:

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