What are your compliance training objectives for 2018?

The beginning of a new year is a good opportunity to formalise learning objectives and prepare training schedules. With many new regulations implemented in 2017, and more to come in 2018, VinciWorks has prepared guidance to help you focus on the important compliance topics for the coming year.

General Data Protection Regulation

GDPR will be coming into full force on 25 May. Companies will need to implement staff training, rewrite their privacy policies, review the ways they currently obtain consent from data subjects and assess whether their processes will be valid under GDPR. You can learn more about preparing for GDPR here. We have also published a free data protection policy template and have released a GDPR training course.

Criminal Finances Act

While the Criminal Finances Act came into force over four months ago, many businesses lack clear training plans, policies and procedures. A recent VinciWorks survey revealed that staff in 25% of companies are unaware of their organisation’s financial crime policies.

Download a tax evasion policy template
Download a Criminal Finances Act e-book
Tax Evasion: Failure to Prevent course demo — 45 minute version for management teams
Tax Evasion: Failure to Prevent course demo — 15 minute version for all other staff

Modern Slavery Act

The start of 2018 marks the end of the first year in which companies with a turnover of at least £36m are required to publish a slavery and human trafficking transparency statement. On 4 October 2017, the UK Home Office released revised guidance on how businesses should comply with the Modern Slavery Act. We have therefore published new guidance on what the modern slavery statement in the second year should look like. The Home Office now advises even smaller businesses to voluntarily produce statements and we have added new courses to our Modern Slavery Act training suite to enable managers to enrol each staff member in the course most suited to their role and needs. VinciWorks has a useful modern slavery statement template that can easily be edited to suit your organisation, staff and industry.

Fourth Money Laundering Directive

On 26 June 2017, the European Union’s Fourth Money Laundering Directive came into force. The Directive includes some fundamental changes to the anti-money laundering procedures, including changes to CDD, a central register for beneficial owners, enhanced measures for local PEPs and a focus on risk assessments.

For an overview of the changes you can download our free mini-course on what has changed, or watch a webinar that we hosted with Amy Bell, chair of the Law Society’s Money Laundering Task Force

Our new course Anti-Money Laundering: Know Your Risk, like all of our AML courses, reflects the new regulations. Its gamified, scenario based approach to training makes it the perfect course for training all staff.

The above regulations should be part of your organisation’s 2018 learning objectives. If you would like to find out more about any of the above topics or about our training, feel free to contact us using the form below.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

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