According to general practice and standards, BSA/AML requires MLOs to be trained annually.
BSA is the acronym of Bank Secrecy Act
AML is the acronym for Anti-Money Laundering.
MLO is the acronym of Mortgage Loan Officer.
Generally, many examiners expect the FFIEC BSA AML Examination is that MLOs should trained and be tested annually.
However, in a case where the firm does not execute transactions with customers or possess customer accounts, or act as an introducing broker regarding customer accounts, MLOs are expected to be trained and tested every two years.
Hence, in this case, it is concluded that the correct answer is "annually."
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