New online course launched to help businesses fight money laundering

anti-money-laundering_blogMoney laundering - the filtering of criminal money into the economy, is a global problem and a massive threat to the UK’s national security. It is estimated that 2% of the money moving through the UK economy each year has been laundered - amounting to a massive £48 billion.

Money laundered in this way is often used to fund illegal activity - with unsuspecting businesses being used as cover-ups to disguise the source and owners of the money.

To help crack down on money laundering in Europe, a reformed EU anti-money laundering directive came into effect on 26 June 2015. Now all EU countries have two years to turn the rules under the new directive into national laws.

This means that all businesses involved in making or receiving cash payments for goods worth at least 10,000 euro (£7,806.20) will need to understand and adhere to the new rules.

WorkRite, the innovator behind the widely successful AssessRite e-learning module for display screen equipment set-up, has launched a new module to help all business employees understand their responsibilities under the new directive.

The interactive online course is made up of seven easy-to-digest modules which take users through the following crucial information:

  • types of money laundering
  • recognising the warning signs
  • importance of reporting suspicions
  • penalties for failing to do so
  • updates to legislation

Commenting on the new course, software manager Dan O’Driscoll said: “Our e-learning module offers employers a simple, cost-effective way of ensuring all staff understand their responsibilities under the new directive.

“We’ve designed the course to be as stimulating and interactive as possible to make the information easier to digest.”

To find out more about the course, please register your interest.