AML & CFT Compliance
February 9, 2024 2025-02-03 15:23AML & CFT Compliance
AML & CFT COMPLIANCE CERTIFICATE
The EIF International Certification for Anti-Money Laundering and Countering the Financing of Terrorism Compliance is globally recognized and provides in-depth knowledge of global AML and CFT laws, regulations, and guidelines. This certification is crucial for professionals aiming to contribute effectively to their organizations and the broader financial ecosystem.
AML & CFT COMPLIANCE CERTIFICATE
The EIF International Certification for Anti-Money Laundering and Countering the Financing of Terrorism Compliance is globally recognized and provides in-depth knowledge of global AML and CFT laws, regulations, and guidelines. This certification is crucial for professionals aiming to contribute effectively to their organizations and the broader financial ecosystem.
PROGRAM OVERVIEW
The EIF-CBI International Certificate in AML & CFT Compliance is suitable for:
| Money Laundering Reporting Officer | AML Manager | KYC & CDD Manager |
| Compliance Officer | Transaction Monitoring Executive | AML Sanctions Manager |
| FCC Compliance Officer | Internal Auditor | Note: or similar roles |
- Understand the AML and CFT principles based on the UAE Federal Laws and Central Bank regulations.
- Acquire knowledge of international compliance recommendations and guidelines in the compliance domain.
- Understand the risk-based approach to managing CFT and proliferation.
- Familiarize with different aspects of TFS and the UAE Central Bank Guidelines on TFS.
- Identify the different types of sanctions and the sanction screening process.
- Understand the role of technology in combating financial crime
Examination: A two (2)-hour exam with 50 multiple-choice questions determines the outcome. A passing score is 60%.
| Program Name | Mode | Program Name | Mode | |
|---|---|---|---|---|
| Classroom | Classroom | |||
| E-Learning | Classroom | |||
| E-Learning | Classroom | |||
| E-Learning | Classroom | |||
| E-Learning | Classroom | |||
| E-Learning | Classroom |
PROGRAM OVERVIEW
The EIF-CBI International Certificate in AML & CFT Compliance is suitable for:
- Money Laundering Reporting officer
- AML Manager
- KYC & CDD Manager
- Compliance Officer
- Transaction Monitoring Executive
- AML Sanctions Manager
- FCC Compliance Officer
- Internal Auditor
- Similar roles
Upon completion of the learning pathway, the learners should be able to:
- Understand the AML and CFT principles based on the UAE Federal Laws and Central Bank regulations.
- Acquire knowledge of international compliance recommendations and guidelines in the compliance domain.
- Understand the risk-based approach to managing CFT and proliferation.
- Familiarize with different aspects of TFS and the UAE Central Bank Guidelines on TFS.
- Identify the different types of sanctions and the sanction screening process.
- Understand the role of technology in combating financial crime
- Entry Requirement: None
- Examination: A two (2)-hour exam with 50 multiple-choice questions determines the outcome. A passing score is 60%.
- KYC & CDD Compliance – (Classroom)
- Politically Exposed Persons (PEPS) – (E-Learning)
- Ultimate Beneficial Ownership (UBO) – (E-Learning)
- European union directives – (E-Learning)
- GOAML & STR – (E-Learning)
- Financial Intelligence Units (FIU) – (E-Learning)
- Transactions Monitoring Foundations – (Classroom)
- AML Laws Regulations and International Guidelines – (Classroom)
- Terrorist Financing – (Classroom)
- Sanctions Monitoring – (Classroom)
- Sanctions Compliance standards – (Classroom)
- Trade based Financial Crimes – (Classroom)
REASONS TO GET CERTIFIED
Those who have earned their certification in AML and CFT Compliance are better equipped to fight money laundering and terrorism financing in the financial industry. People who receive thorough training acquire a thorough awareness of counter-financing of terrorism (CFT) strategies and tactics, as well as anti-money laundering (AML) legislation, regulations, and best practices.
In order to detect, avoid, and minimize the risks of money laundering and terrorism financing, financial institutions need to have strong compliance programs, and certified AML and CFT Compliance specialists are essential to this process. In order to ensure compliance with regulatory regulations and industry standards, they are skilled in completing Know Your Customer (KYC) procedures, customer due diligence (CDD), transaction monitoring, and suspicious activity reporting (SAR).
Furthermore, the significance of ethics, integrity, and regulatory compliance in all facets of banking and financial operations is emphasized by AML and CFT Compliance certification programs. To prevent financial crimes, certified specialists are educated to conduct risk assessments, identify and resolve potential compliance concerns, and create efficient compliance policies and procedures.
AML and CFT Compliance certification programs emphasize leadership, teamwork, and communication skills in addition to technical knowledge. In order to handle compliance concerns and advance a compliance culture inside firms, certified professionals are prepared to interact with internal and external stakeholders, train personnel on AML/CFT procedures, and effectively convey compliance needs.
FREQUENTLY ASKED QUESTIONS
- AML: Anti-Money Laundering refers to a set of laws, regulations, and procedures designed to prevent the illegal movement of money obtained through criminal activities.
- CFT: Countering the Financing of Terrorism refers to measures aimed at preventing the funding of terrorist organizations and their activities.
- An AML/CFT Compliance certification is a formal recognition of an individual’s knowledge and expertise in identifying and mitigating the risks of money laundering and terrorist financing.
- Mitigates Financial Crime: Helps prevent money laundering and terrorist financing, safeguarding the integrity of the financial system.
- Ensures Compliance: Helps organizations comply with relevant laws and regulations, minimizing the risk of fines and legal penalties.
- Protects Reputation: Maintains public trust and protects the organization’s reputation.
- Enhances Risk Management: Improves the ability to identify, assess, and mitigate financial crime risks.
- Customer Due Diligence (CDD): Identifying and verifying customer information to understand their business activities and assess risks.
- Enhanced Due Diligence (EDD): Conducting more rigorous checks on high-risk customers, such as politically exposed persons (PEPs).
- Transaction Monitoring: Continuously monitoring customer transactions for suspicious activity.
- Suspicious Activity Reporting (SAR): Reporting suspicious transactions to the relevant authorities (e.g., Financial Intelligence Units).
- Record Keeping: Maintaining accurate and up-to-date records of customer information and transactions.
- Financial institutions (banks, insurance companies, investment firms)
- Money service businesses (e.g., money transfer companies)
- Casinos and other gaming businesses
- Real estate agents
- Lawyers and accountants
- Designated Non-Financial Businesses and Professions (DNFBPs)
- Fines and Penalties: Significant fines imposed by regulatory authorities.
- Reputational Damage: Loss of customer trust and damage to the organization’s image.
- Legal Action: Criminal charges against individuals and organizations.
- License Revocation: Loss of operating licenses for financial institutions.
Discover how EIF can empower your professional development journey, just as it has empowered others.
Providing Quality and Excellence in banking and finance training since 1983.
CERTIFICATION ASSISTANCE
For more information on the certification programs offered by EIF, send an email to: certificates@eif.gov.ae
STAY CONNECTED
CONTACT US
