Falls Church, VA, May 29, 2009 --(PR.com
)-- 7. Qaran Compliance Program Training Policies
Qaran Financial Express LLC, is committed to strong BSA/AML training for its agents and officers including the Board of Directors to ensure they are trained in applicable regulatory requirements including:
Patriot Act requirements
Internal BSA/AML policies, procedures, and processes
Training will be conducted on an annual basis. In addition, Qaran is committed to provide ongoing training to all its personnel and to ensure that written procedures are updated to reflect any changes required in such training. Training can be conducted using various methods including face-to-face and online.
Qaran will maintain records to document training history and material. These will include training and testing materials, the dates of training sessions, attendance records, and be available for examiner review.
Qaran training will include, but not limited to:
Patriot Act requirement
Overview of different forms of Money Laundering
Customer Identification Program (CIP)
Detecting suspicious activities and filing SARs
Cash transaction reporting ($3000 or more) and filing CTRs
OFAC requirements and handling positive name matches
General recordkeeping, retention, and documentation
Personnel roles and responsibilities
Penalties for non-compliance
In addition, Qaran is committed to providing enhanced training to its Compliance Officer(s) and key management staff.