AML Questions & Answers

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• What is AML/CTF?
• What is its purpose?
• How does it affect brokers?
• Do businesses have to be compliant?
• If so, do individual directors or owners have to be compliant?
• What is required to be compliant?
• What if I don't become compliant?
• How will anyone know if I don't become compliant?
• How are the privacy laws affected by reporting a suspicious client?
• Are the FBAA-DeloitteAML/CTF Courses up and running?
• When I register for AML/CTF via FBAA, what happens?
• What AML/CTF courses are available for Finance and Mortgage Brokers via the FBAA?
• Is the AML/CTF 101 "Common Core Content" available now on line?
• Will AML/CTF 102 "Client Facing/Broker" be available after completion of "101"?
• I have already registered via FBAA what happens next?
• What is next? (AML 103) - Sooner than later.
• I have staff that I would like to do the course as well as myself. If they cant get the 90% pass, are there second chances without extra costs or is there a reference paper/book etc so they can study and they pass. Some are fairly inexperienced so Im not sure what extent or depth of knowledge they really have, especially if the test was difficult.
• When will the AML course be available?
• I completed my Anti-Money Laundering course with Deloitte in approximately January last year. In the process of moving offices we have been unable to locate 101 and 10. How can I get another copy of my certificates?
• My membership number is 002041. I completed FBAA 101 and 102, 7/12/2009 with Deloitte. When I renewed my FBAA membership for the year I was asked to pay $70 covering furter training. When will this further training be offered by Deloitte. I emailed on 4/5/2009 in this regard and whilst a reply was due within 24 hours, nothing has come to me and I decided to write again. ( not very professional) Awaiting your reply.