Wwft and Sanctions Act

As an employee or policy maker of a financial institution, you must be familiar with the provisions of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). To this end, you are obligated to periodically update your knowledge on the Wwft. The Ministry of Compliance offers various Wwft trainings to help you meet the legal training requirements.

Why take a Wwft training?

As a service provider in the financial sector, you can make an important contribution to the fight against money laundering and the financing of terrorism. If you are able to recognize suspicious transactions and know how and when to report them, you can help your organization comply with the Wwft and prevent financial and reputational damage.

Besides the fact that attending a Wwft training is important in the fight against financial crime, it is also required by law. According to Article 35 of the Wwft, an institution must ensure that its employees and policymakers are familiar with the provisions of the Wwft. This means that they must receive periodic training on the subject.

Who should take a Wwft training?

Periodically attending a Wwft training is mandatory for all employees involved in Customer Due Diligence activities. This concerns:

  • Employees (and their supervisors) who are involved in assessing the integrity of both existing and new customers.
  • Employees (and their supervisors) who are involved in the processing and/or assessment of transactions by customers. This includes almost all employees in the financial sector with customer contact.
  • Day-to-day policymakers in their role as the persons ultimately responsible for compliance with the legal provisions of the Wwft.

Aligned with your organizational policy

The purpose of a Wwft training is to teach employees to recognize suspicious, unusual transactions and to independently research and monitor their clients. Both during the onboarding of new clients and during the relationship with existing clients. We can easily adapt our courses to fit the policy and integrity risk appetite of your organization. We can also enrich the courses with examples from your daily practice. This way you can be sure that your employees have the right knowledge and skills to effectively combat money laundering and the financiering of terrorism.

Tailor-made program

Our Wwft Awareness  e-learning provides basic knowledge of the Wwft and teaches you to recognize unusual transactions. The Sanctions Regulation Awareness e-learning aims to familiarize you with the (European and Dutch) Sanctions regulation. And if you want to gain more in-depth knowledge, you can follow our Wwft Customer Investigation and Wwft Transaction Monitoring courses. But even if you think a standard program is insufficient and you need a training in which your own organizational policies and procedures are addressed, we are happy to help. We regularly set up tailor-made programs for our clients, in which we combine the Wwft Awareness training with one or more (online) sessions. Want to know more? Please contact us. Together we will put together a program that fits your organization perfectly.

Personal advice

Interested in a hands-on training course that your employees will enjoy? Please feel free to contact us for more information about the possibilities.

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