Which of the following is a requirement for firms’ training programs under Money Laundering regulations?

The requirement for firms' training programs under Money Laundering regulations emphasizes the need for comprehensive and continuous education. This approach is essential because the money laundering and terrorist financing landscapes are continuously evolving, and staff members must stay updated on the latest regulations, techniques used by criminals, and the firm's policies and procedures to identify and mitigate risks.

By providing comprehensive training, firms ensure that all employees, regardless of their position or level of experience, understand the signs of potential money laundering activities, the importance of compliance with regulations, and their specific responsibilities. Continuous education reinforces this knowledge over time, helping staff adapt to changes in legislation and operational practices, thereby strengthening the firm's overall defense against financial crime.

This training approach aligns with regulatory expectations, demonstrating a firm commitment to compliance and the protection of financial systems.