How to Comply with Anti-Money Laundering Training Requirements

(OnlineEd®, InlineEd) – Residential mortgage lenders take note: The August 13, 2012 deadline for compliance with the new anti-money laundering (AML) and suspicious activity report (SAR) final rule is fast approaching.

In A Nutshell

This new expanded regulation applies to every single non-bank mortgage brokerage and mortgage lending company, regardless of size. The mandatory compliance deadline is August 13, 2012. By this date or sooner, you must:

  • Perform an AML risk assessment
  • Implement a written AML Program, including policies and procedures
  • Train employees on AML
  • Develop training program for ongoing AML training and tracking of new employees
  • Conduct and keep records of annual AML training

Would you like an all-in-one solution for this? Would you like it right now? OnlineEd® has developed InlineEd to meet your compliance needs!

“Instant-AML” Training

The instant-solution to your Anti-Money Laundering training needs is called InlineEd. The InlineEd AML Compliance Bundle is a 100% web-based solution comes with AML training, complete record keeping and reporting abilities, and has no installation or IT integration requirements. Just sign up and you’ve got this issue solved!

How It Works:

  1. Submit your information and payment through the checkout page.
  2. Send us a list of all of your employees.
  3. We upload your list and give you back login information that you can issue to employees.
  4. You also receive a pre-made Anti-Money Laundering “policy template” which you can customize and use as your company’s own policy if you don’t already have one.

Each employee will then have personal access to the AML training online. Employees can log in and complete the training at their convenience. When the training is completed, their records are recorded in the online database. You can pull up these records at any time in real time.

You can use InlineEd to train your current employees and keep using the system for future employees. Just enter their information into the system when they are hired and the AML requirements will automatically be applied.

Room To Grow With InlineEd

InlineEd handles policies, procedures, training, tracking, report, records, and compliance.

InlineEd can also help you with many other compliance needs:

  • Company and compliance training
  • NMLS continuing education
  • Education tracking, records, and reporting
  • Policies & procedures

Take A Tour!

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InlineEd(TM) is a software system developed by  OnlineEd® for mortgage broker and real estate lender continuing education and national compliance courses, as well as course compliance tracking software for employers.

For more information about InlineEd, please contact Paul Cleary at OnlineEd: (866) 519-9597 or visit www.onlineed.com/inlineed

Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.