AML training programs should extend beyond basic concepts to deliver targeted training by:
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A. B. C. D.C
AML (Anti-Money Laundering) training programs play a crucial role in preventing financial crimes such as money laundering and terrorist financing. Effective AML training programs should go beyond basic concepts and provide targeted training that is relevant to the individual's role in the organization. The question asks which option delivers targeted training beyond basic concepts, and the correct answer is D: offering appropriate training tailored to the individual's specific roles, like alert investigators and SARs writers.
Option A is incorrect because offering internal policies training, such as customer identification and verification procedures and policies, is a basic concept in AML training programs, and it does not necessarily extend beyond basic concepts. Although internal policies training is essential, it is not enough to prevent financial crimes in today's dynamic environment.
Option B is also incorrect because offering periodic refresher training on AML basics for existing employees is a standard practice, and it is not targeted training that extends beyond basic concepts.
Option C is incorrect because offering general background and history training pertaining to money laundering controls may be beneficial, but it does not deliver targeted training that extends beyond basic concepts.
Option D is the correct answer because offering appropriate training tailored to the individual's specific roles, like alert investigators and SARs writers, is an essential component of effective AML training programs. This training is targeted and relevant to the individual's role in the organization and goes beyond basic concepts, enabling employees to identify and mitigate specific money laundering risks. Targeted training ensures that employees have the necessary skills and knowledge to perform their job duties effectively and comply with AML regulations.