When leading a financial services entity, in particular
within the company service provision, one needs to be aware of the
consequences of business decisions that could undermine the
entity's business policies, systems and the overall
compliance culture. In this 5-part series of articles, I will
analyse 5 business decisions, through the legislative references
such decisions could fall foul of, the impact on the organisation
these decisions could have, and attempt to suggest a course of
action.
Revision of entity and role-specific AML training
Due to rising costs, business leaders could be tempted to
abandon role-specific training by reducing access to external
short-courses or terminating the sponsoring of academic
qualifications in AML/Compliance, to be replaced by short or
generic on-going company-wide courses, possibly on-line for further
cost cutting.
