ACAMS, FINTRAIL unveil AML compliance certification programme

Tuesday 8 December 2020 11:02 CET | News

ACAMS has launched a new certification programme for fintech companies seeking to meet regulatory standards in an evolving market environment. 

This was initiated in response to the rapidly growing nexus between financial technology and the AML sector. The Certified AML FinTech Compliance Associate (CAFCA) programme is developed in partnership with specialist consultancy FINTRAIL, and it is designed to expand the compliance toolkit of fintech personnel working in financial crime prevention at the entry level – whether they are remotely onboarding clients or helping to scale their firm’s AML processes to match consumer demand.

Besides the CAFCA programme, ACAMS now offers eight certifications for career professionals working in various roles in the AFC/AML compliance sector. ACAMS already launched its Certified Know Your Customer Associate (CKYCA), Certified Transaction Monitoring Associate (CTMA) and Certified Global Sanctions Specialist (CGSS) programmes.

After they enrol, CAFCA applicants will undergo eight hours of digital training on governance and regulations, customer due diligence controls, transaction monitoring best practices, investigatory procedures, regulatory reporting, and other topics at the core of AML compliance for the fintech industry. 

In addition, this programme aims to fit the needs of fintechs operating as prepaid card issuers, PSPs, neo-banks, Insuretech companies, and crowdfunding and peer-to-peer organisations, among other businesses in the sector. The second part of the programme entails a certification exam that tests the ability of individuals to apply the knowledge from the training to real-life, contextualised situations.

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Keywords: ACAMS, partnership, FINTRAIL, product launch, AML, compliance, fintech, onboarding, CAFCA, Certified AML FinTech Compliance Associate
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime