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12.3 Counterfeit Identification Training

N 35/2018 STA
  1. 12.3.1The Licensed Person must ensure that:
    1. a)properly documented periodical training is provided to all employees handling cash;
    2. b)training is provided to detect counterfeits, both in local as well as in foreign currencies;
    3. c)the training material covers complete counterfeit detection procedures, internal/external reporting procedures and identification features of relevant currencies that the Licensed Person may usually buy or sell across its branches;
    4. d)two such trainings are provided to employees during the first year of their employment and annual training is given thereafter; and
    5. e)identification features of newly introduced currencies, whether local or foreign, must be communicated immediately to all relevant employees.
  2. 12.3.2Counterfeit identification training may be in-house, external/outsourced, web based or a combination of all these;