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Last Updated: Oct 29, 2020 - 3:12:04 PM |
Amidst Covid-19, local company launches online training in Anti-Money Laundering
By Tyrina Neely Fusion Integrated Marketing Communications
Oct 29, 2020 - 2:33:35 PM
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Tyrone Neely, President of Accord Services
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Nassau, Bahamas – Local risk and compliance company Accord Services announces the launch of AccordReady©, The Bahamas’ first digital training solution designed to help financial professionals manage the threat of financial crimes, including anti-money laundering, terrorist financing, and fraud.
“Financial crime is a serious problem worldwide, with the estimated annual cost of money laundering and associated crimes between US$1.4 trillion to US$3.5 trillion,” stated Tyrone Neely, Accord Services President. “The specialized and objective training provided by AccordReady helps to mitigate the risk of financial crime within The Bahamas, helping us all around.”
AccordReady is an online platform that provides comprehensive financial training through relevant and engaging content, including identifiable Bahamian personalities, imagery and effects, humor, music, and role-playing. The subject matter reinforces core concepts and includes updates to local legislation and guidelines, as well as international pronouncements and trends.
This tailored training platform is suitable for the entire Bahamian financial industry, including banks and trust companies, credit unions, money transfer agents, investment firms, FCSPs, insurance companies and broker/agents, law firms, real estate firms, casinos and webshops, and any other entities licensed under a financial regulator. Government agencies whose role includes revenue collection and distribution of funds are also ideal registrants for this training platform.
Local regulations require all companies licensed within the Bahamas under a financial services regulator to supply annual risk and compliance training to staff. However, to date, there has not been an online solution tailored to The Bahamian market.
AccordReady meets this need, enabling financial institutions to fulfill their regulatory requirement for annual staff training, using a comprehensive yet concise approach. The entire training experience may be completed within a few hours, is available for access at any time, and can be used continually as a reference tool.
“When a company incorporates a vibrant training program, not only does it remain compliant with the authorities, but it also mitigates the risk of loss, both of its reputation and financially, from the threat of the proceeds of crime,” stated Neely.
The training platform includes a real-time assessment session which measures the trainee’s understanding and proficiency in the subject matter. “Many international training programs do not assess the participant’s proficiency, leaving management to assume the results and ongoing benefits. AccordReady removes that doubt by measuring proficiency and proving instant results to management,” stated Neely.
AccordReady has been in development since 2018 and builds on the in-person financial training conducted by Accord Services over the past ten years.
Neely, a financial services leader with more than 40 years’ experience, has worn many hats during his career. They include computer programmer, certified public accountant, information systems consultant, financial controller, bank examiner, and risk and compliance consultant; while having tenure within international bank and trust companies, a big four accounting firm, and the principal regulator.
Given the current socio-economic landscape, the launch of AccordReady is relevant and timely. With the current Covid-19 social distancing protocols and work-from-home models in place, AccordReady enables Bahamian companies to provide their team with the vital risk and compliance training needed through a safe and effective online platform.
For further details, visit www.accordready.com.
© Copyright 2020 by thebahamasweekly.com
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