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Location: Central Bank of Bahrain Volume 5—Specialised Licensees > Common Modules (Applicable to all Specialised Licensees) > Part A > Business Standards > FC Financial Crime > FC-6 Staff Training and Recruitment > FC-6.1 General Requirements > FC-6.1.1
  • FC-6.1 General Requirements

    • FC-6.1.1

      A licenseeG must take reasonable steps to provide periodic training and information to ensure that staff who handle customer transactions, or are managerially responsible for such transactions, are made aware of:

      (a) Their responsibilities under the AML Law, this Module, and any other relevant AML/CFT laws and regulations;
      (b) The identity and responsibilities of the MLRO and his deputy;
      (c) The potential consequences, both individual and corporate, of any breach of the AML Law, this Module and any other relevant AML/CFT laws or regulations;
      (d) The licensee'sG current AML/CFT policies and procedures;
      (e) Money laundering and terrorist financing typologies and trends;
      (f) The type of customer activity or transaction that may justify an internal report in accordance with Section FC-5.1;
      (g) The licensee'sG procedures for making internal report in accordance with Section FC-5.1; and
      (h) Customer due diligence measures with respect to establishing business relations with customers.
      October 2010

    • FC-6.1.2

      The information referred to in Paragraph FC-6.1.1 must be brought to the attention of relevant new employees of licenseesG , and must remain available for reference by staff during their period of employment.

      October 2010

    • FC-6.1.3

      Relevant new employees must be given AML/CFT training within three months of joining a licenseeG .

      October 2010

    • FC-6.1.4

      LicenseesG must ensure that their AML/CFT training for relevant staff remains up-to-date, and is appropriate given the licensee'sG activities and customer base.

      October 2010

    • FC-6.1.5

      The CBB would normally expect AML/CFT training to be provided to relevant staff at least once a year.

      October 2010

    • FC-6.1.6

      LicenseesG must develop adequate screening procedures to ensure high standards when hiring employees. These procedures must include controls to prevent criminals or their associates from being employed by licenseesG .

      October 2010

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