Federal officials signal a more risk-based approach to AML compliance
A new regulatory streamlining initiative could create opportunities to reduce unnecessary compliance burden while maintaining the effectiveness of Canada's
The changes to Canada’s anti-money laundering (AML) regime through the Strong Borders Act (Bill C-12) are now in effect. So, it’s critical for Canadian credit unions to stay laser-focused on compliance training that meets today’s best practices.
At a recent industry day, FINTRAC officials signaled they're noticing weak points in training across the country: outdated materials, weak assessments of comprehension, and a lack of reporting of training completion.
CCUA’s AML training addresses all these points. Our course, It Begins with You: AML Fundamentals for Canadian Credit Unions, offers:
- Current AML training with updates made throughout the year, resulting in complimentary new materials added to the course on a regular basis
- Relevant, sector-specific training just for Canadian credit unions
- Assessments in each chapter concluding with a final quiz with a minimum pass percentage
- Progress tracking and completion reporting through CCUA Campus
If your credit union hasn't completed compliance training for the year, now is an ideal time to get started.
We're here to help. CCUA Campus has tiered subscription plans for member credit unions, and our Client Solutions experts can offer bulk enrollments and completion reports.
Reach out to clientsolutions@ccua.com to get started.
