Improve Your AML Compliance Training: Train More Staff Faster for Less

Improve Your AML Compliance Training: Train More Staff Faster for Less
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January 19, 2022

Resource: Blog Industry: Casino
Tags: Anti-Money Laundering (AML), Online Training, Vector LMS and Training Management

In today’s ever-changing world, being nimble and knowing how to pivot quickly can make or break a business. With online training, you’ve already won half the battle. Online learning provides more options, flexibility, and numerous ways to save time and money. Your team members can train anytime, anywhere without the casino paying overtime, compliance officers juggling dozens of differing schedules, or employees being put at risk during the uncertainty within the ongoing pandemic.

As the world continues to shift, online training is your ace in the pocket for efficiency and pivoting to successfully adapt your plans and needs in these unpredictable times.

Further, when it comes to training for compliance, all casinos have a duty to maintain compliance with the Title 31 regulations as it is required by FinCEN and the IRS. This commitment starts with prioritizing compliance among the property’s objectives, policies, and procedures, and should be implemented through employee training, AML program monitoring, and enforcement. With AML training online, your team members can always stay updated with training courses no matter where they are.

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All Bets are Off on Money Laundering

AML training programs are not a “one size fits all”. When building a strong and robust training program you should consider the size of the property, the roles and responsibilities of each employee, and the method of communication for the required training. The assigned training courses should be completed on a recurring basis to ensure employees are understanding compliance fundamentals and any changes to the gaming laws and regulations to maintain compliance on property.

Self-reporting demonstrates to FinCEN that the property is committed to building a culture of compliance as reporting of completed training is required for all employees. Manual reporting may require multiple people to share the workload and keep tracking up to date. It also depends on the coordination and cooperation between various departments within the property.

Enter Vector Solutions Casinos...

We understand the importance of employee training and building a strong AML compliance program at your property. That’s why we’ve created a report, All Bets Are Off on Money Laundering, that covers the state of AML today to serve as your go-to guide. It’s loaded with information and resources you’ll need to know as a compliance team member. This report works in tandem with our popular AML Compliance Program.

Because the gaming industry is unique and requires very specific course content, we designed our training to range from required compliance content to professional roadmaps for frontline to executive team members. Our course catalog includes a Title 31 Suite for employee training. Our Title 31 Suite training courses are regularly updated to comply with Federal training requirements

Vector Solutions Casinos’ learning management system, Vector LMS for Casinos, is the most user-friendly platform on the market and allows for automated course completion tracking. Our support team assists with assigning the correct course content for all employees varying by department and provides regular updates with employee completion reports. Check out our Training Completion Tracking Made Easy t blog to learn more!

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About Vector Solutions

Vector Solutions for Casinos has been in the industry for over 10 years, as the leading Saas provider for online Title 31 and Anti-Money laundering training, helping clients meet federal mandates for reporting certain currency transactions to uncover money laundering and other financial crimes. Over the years we have built a comprehensive gaming-specific course catalog containing nearly 150 online training courses from Customer Loyalty, to Safety, Leadership Training and more, all hosted in our powerful Learning Management system, Vector LMS (formerly CELEXA, a Casino Essentials brand).

We proudly serve over 350 casinos nationwide. Vector LMS for Casinos is trusted by Boyd Gaming, Jack Entertainment, Bally’s Corporation, Four Winds Casinos, Wind Creek Hospitality, Desert Diamond Casinos, Muscogee Creek Nation Casinos, Delaware North Casinos, & Foxwoods Resort Casino and more! Our learning management system, Vector LMS for Casinos, is the most user-friendly platform on the market.

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