Professional Qualifications in Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT)

What is Professional Qualifications in Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT)?


AICB offers professional qualifications in Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT) in a strategic partnership with the International Compliance Association (ICA), a global education and training professional body in the field  of Compliance, AML and Financial Crime Prevention.

These qualifications, which have the support of the Asian Institute of Finance (AIF), are one of the initiatives of the AICB-Compliance Officers’ Networking Group (CONG) to inject professionalism and enhance the capacity building of compliance officers in financial institutions in Malaysia.

The qualifications, mapped to the International Occupational Standards of Competency in AML/CTF, are awarded by AICB and ICA. All ICA qualifications are awarded in association with Alliance Manchester Business School, the University of Manchester, the largest campus-based business and management school in the UK.

The qualifications are at three levels


Certification
in
AML/CFT

Who it is for?

  • Staff involved in compliance and AML/CFT
  • Staff involved in risk functions
  • Staff involved in internal and external audit
  • Regulatory representatives
  • Staff new to compliance and AML

Membership Requirement – Candidates are required to be Individual Members of AICB.

  • Standard Route (Enrolment)
    • Holds the SPM or equivalent or higher-level qualification; AND
    • Has the ability to complete the reading and written aspects of the programme in English
  • Accelerated Route (Exemption)
    • Not applicable

Advanced Certification in AML/CFT

Who it is for?

  • Compliance, AML and Financial Crime Officer
  • Money Laundering Reporting Officer
  • Managers with responsibility for Internal Compliance Controls
  • Internal and External Audit Staff
  • Company Secretaries
  • Legal Practitioners and Support Staff
  • Accountants

Membership Requirement – Candidates are required to be Individual Members of AICB.

  • Standard Route (Enrolment)
    • Completed Certification in Anti-Money Laundering and Counter Financing of Terrorism (ICA/AICB); AND
    • at least 1 year of AML-related experience
  • Accelerated Route (Exemption)
    • Exemptions will be considered for the Certification in Anti-Money Laundering and Counter Financing of Terrorism based on the following requirements:
      • Holds a degree or professional qualification; AND
      • Have 3 years of AML-related work experience.

Certified Professional in AML/CFT

Who it is for?

  • Heads of Compliance, AML and Financial Crime
  • Money Laundering Reporting Officers
  • Money Laundering Prevention Officers
  • Compliance, AML and Financial Crime Managers and senior staff
  • Senior Risk Staff
  • Regulatory representatives
  • Legal practitioners
  • Internal and external audit staff
  • Company secretaries
  • Accountants

Membership Requirement – Candidates are required to be Individual Members of AICB.

  • Holding a senior position e.g. heading AML/Compliance/Audit/Risk/ Operations with at least 3 years’ experience in that position

Certification in Anti-Money Laundering/Counter Financing of Terrorism

Apply Now


Syllabus Structure

VIEW MORE

Module 1
Understanding Money Laundering and Terrorist Financing
Module 2
Malaysian AML/CFT Regulatory Framework
Module 3
Recognition, Handling and Reporting Transactions and Dealing with Authorities
Module 4
Customer Due Diligence, Risk Profiling and Detection Methodologies
Module 5
AML/CFT Typologies Across industry Sectors

Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism

Apply Now


Syllabus Structure

VIEW MORE

Module 1
International Anti-Money Laundering/Counter-Terrorist Financing Strategies
Module 2
The Malaysian AML/CFT Regulatory Framework
Module 3
Money Laundering and Terrorist Financing – Definitions and Nature
Module 4
The Risk-based Approach to AML/CTF
Module 5
The Duties and Responsibilities of the Money Laundering Reporting Officer (MLRO) – Compliance Officer (AML/CFT)
Module 6
Recognition, Handling and Reporting Transactions
Module 7
Post-reporting Considerations
Module 8
Designing a Comprehensive Anti-Money Laundering Framework for a Financial Services Business
Module 9
Dealing with the Authorities
Module 10
Customer Due Dilligence (CDD) and Risk Profiling
Module 11
Financial Intelligence, Investigation and Enforcement
Module 12
Engendering an Effective Compliance Culture and Maintaining a High Level of Awareness
Module 13
Anti-Money Laundering Typologies across Industry Sectors
Module 14
AML/CFT Capital Markets

Certified Professional in Anti-Money Laundering/Counter Financing of Terrorism

Apply Now


Syllabus Structure

VIEW MORE

Module 1
AML Leadership – Building, Leading and Managing an AML Team (Part 1)
Module 2
AML Leadership – Building, Leading and Managing an AML Team (Part 2)
Module 3
Ethics, Corporate Governance and Corporate Responsibility
Module 4
Drafting the AML Compliance Policy, Procedures and Systems of the Organisation
Module 5
Compliance and Senior Management
Module 6
MIS and Compliance

Programme Fees (Inclusive 6% GST)


Level Published Price
(RM)
2017 Member Price
(RM)
Certification in AML/CFT 6,360 5,088
Advanced Certification in AML/CFT 8,480 6,784
Certified Professional in AML/CFT 10,070 8,056

ENROLMENT & EXEMPTION


Must be current AICB individual member
Certification Certification
in Anti-Money Laundering and Counter Financing of Terrorism
Advanced Certification
in Anti-Money Laundering and Counter Financing of Terrorism
Certified
Professional in Anti-Money Laundering and Counter Financing of Terrorism
Qualification Minimum SPM certificate or equivalent and has the ability
to complete the reading and written aspects of the programme English
Completed certificate in Anti-Money Laundering and Counter Financing of Terrorism  (ICA/ aspects of the AICB) with at least 1 year of AML- related experience Holding a senior position e.g. heading AML/ Compliance/Audit/ Risk/Operations
with at least 3 years’
experience in that position

 

Professional Qualifications in AML/CFT – Exemptions Guidelines
(a) An applicant who holds a degree or professional qualification with at least three years of AML-related experience, is exempted from the first level of the AML/CFT suite of qualifications, Certification in AML/CFT, and is eligible to enrol for the second level qualification, Advanced Certification in AML/CFT.

(b) An applicant who holds a senior position e.g. heading AML/ Compliance/Audit/Risk/Operations, with at least three years’ experience in that position, is exempted from the first and second level of the AML/CFT suite of qualifications, and is eligible to enrol for the final level qualification, Certified Professional in AML/CFT.

Click here to read more on the Enrolment and Exemption Guidelines.

Certification in Anti-Money Laundering and Counter Financing of Terrorism (Cert. AML/CFT)


(a) Assessment Structure
Type of Assessment
 Weightage
1 assignment: approximately 2,500 words 50%
1  exam:   1  hour   45  minutes  (15  minutes reading time), open book format 50%
(b) Assignment

Referencing and Plagiarism

i) Failure to properly reference and plagiarism are taken extremely seriously. Referencing methods are set out in Appendix 3 to the ICA Study Handbook.

ii) Any candidate found guilty of plagiarism will be subject to appropriate disciplinary procedures and sanctions.

Marking

i) Assignments are forwarded to the first marker for detailed review and comment. Assignments are marked out of 100.

ii) All assignments graded more than 70% or less than 50%, together with a percentage of all assignments initially graded between 51 – 69% are automatically independently re-marked by a second marker.

iii) All assignments achieving more than 70% and less than 50% at the second marking are then examined by a third marker, prior to the final marking agreed by the internal marking team.

(c) Examination Format
Question Format  Essay
No. of Questions 5 (Candidates to choose 2)
Duration of Exam 1 hour 45 minutes (The first 15 minutes is for reading only; candidates may write  notes  on  the  question  paper only but cannot commence answering questions)
Pass Mark 50%
Examination Type Open    book.
Questions  papers  are collected back  after the examination.
(d) Pass Criteria

The pass mark is 50% of the total mark allocation for assignment and examination. The examination mark is added to the assignment mark and averaged to determine the final assessment result. The pass mark is 50, however, if either the assignment or the examination mark is below 40, this will be deemed as a fail, and this element must be taken again.

(e) Grade Bands
Grade Band Marks
Distinction 70% and above
Merit 60-69%
Pass 50-59%
Marginal Fail 40-49%
Fail 39% and below
(f) Supplementary Award

In addition to the AICB/ICA Cert. AML/CFT award, candidates will obtain the international award, Advanced Certificate in Anti-Money Laundering and Counter Terrorist Financing, awarded by ICA in association with the University of Manchester, Alliance Manchester Business School.

 

Advanced Certification in Anti-Money Laundering and Counter Financing of Terrorism (Adv. Cert. AML/CFT)


(a) Assessment Structure
Type of Assessment
 Weightage
2 assignments: approximately 3,000 words
each
50%
1  examination: 3  hours   15  minutes, open book format 50%
(b) Assignment

Referencing and Plagiarism

i) Failure to properly reference and plagiarism are taken extremely seriously. Referencing methods are set out in Appendix 3 to the ICA Study Handbook.

ii) Any candidate found guilty of plagiarism will be subject to appropriate disciplinary procedures and sanctions.

Marking

i) Assignments are forwarded to the first marker for detailed review and comment. Assignments are marked out of 100.

ii) All assignments graded more than 70% or less than 50%, together with a percentage of all assignments initially graded between 51-69% are automatically independently re-marked by a second marker.

iii) All assignments achieving more than 70% and less than 50% at the second marking are then examined by a third marker, prior to the final marking agreed by the internal marking team.

(c) Examination Format
Question Format  Essay
No. of Questions 5 (Candidates to choose 2)
Duration of Exam 3 hour  15 minutes (The first 15 minutes is for reading only; candidates may write notes on the question paper only but cannot commence answering questions)
Pass Mark 50%
Examination Type Open book.
Questions papers are collected back  after the examination.
(d) Pass Criteria

The pass mark is 50% of the total mark allocation for assignment and examination. The examination mark is added to the assignment mark and averaged to determine the final assessment result. The pass mark is 50, however, if either the assignment or the examination mark is below 40, this will be deemed as a fail, and this element must be taken again.

(e) Grade Bands

Results will be expressed in grade bands as follows:

Grade Band Marks
Distinction 70% and above
Merit 60-69%
Pass 50-59%
Marginal Fail 40-49%
Fail 39% and below
(f) Supplementary Award

In addition to the Advanced Certification in AML/CFT award, candidates will obtain the international award, International Diploma in Anti-Money Laundering and Counter Terrorist Financing, awarded by ICA in association with the University of Manchester, Alliance Manchester Business School.

 

Certified Professional in Anti-Money Laundering and Counter
Financing of Terrorism [CP (AML/CFT)]

(a) Assessment Structure

Face-to-face interview assessment, approximately three hours, mapping candidate skills against the competencies for the programme.

  • Interview Assessment Committee
    The interviewers are senior assessors from ICA. Guidelines
    on the interview are from ICA.
  • Notification of Interview Assessment
    Candidates will be informed of the interview date,
    time, and venue three weeks before the interview.
  • Interview Format
    Face-to-face oral interview, approximately 3 hours.
  • Interview Schedule
    The interview will be scheduled upon successful completion of the six masterclasses.
  • Interview Venue
    The interview assessment will be held in Kuala Lumpur.
(b) Results

Results will be expressed as Competent or Not Competent for each competency. The award is only granted if a candidate is declared as Competent in all 6 competencies.

(c) Reassessment

Candidates can be re-assessed in individual competencies.

(d) Award Requirements

Candidates must be declared as competent in all six competencies to be granted the award.

(e) Supplementary Award

In addition to the CP (AML/CFT) award, candidates will obtain the international award, International Post-Graduate Diploma in Anti-Money Laundering, awarded by ICA in association with the University of Manchester, Alliance Manchester Business School.

Certification in Anti-Money Laundering / Counter Financing of Terrorism

Print
EXAM ACTIVITY SCHEDULE 2017 INTAKE
FEBRUARY 2017 AUGUST 2017
Programme Intake Code  CE/02/17-12 CE/08/17-13
Enrolment Period 7 Nov 2016 (Monday)
to
3 Jan 2017 (Tuesday)
25 Apr 2017 (Tuesday)
to
23 Jun 2017 (Friday)
Workshop & Exam Registration Closing Date 13 Jan 2017 (Friday) 7 Jul 2017 (Friday)
Commencement Intake
(Access to ICA LMS)
30 Jan 2017 (Monday) 24 Jul 2017 (Monday)
Dates for Workshop (Group 1)* 20 – 21 Feb 2017 (Mon – Tue) 14 – 15 Aug 2017 (Mon – Tue)
Dates for Workshop (Group 2)* 22 – 23 Feb 2017 (Wed – Thu) 16 – 17 Aug 2017 (Wed – Thu)
Due Date for Assignment 20 Mar 2017 (Monday) 11 Sep 2017 (Monday)
Exam Dates 27 May 2017 (Saturday) 25 Nov 2017 (Saturday)
Exam Result Release 8 Aug 2017 (Tuesday) 19 Jan 2018 (Friday)

* Note: Workshops are conducted from 9.00am – 5.00pm at Asian Banking School

 Disclaimer: 

  1. Both AICB and ICA reserve the right to cancel, suspend, interrupt or reschedule any face-to-face workshops/sessions or examination to another date and will not be liable for any claims, actions, costs, charges, expenses, damages, loss and liability due to the cancellation/deferment of these face-to-face workshops/sessions or examination. 
  1. Training workshops for AICB qualifications are conducted by Asian Banking School (ABS). Candidates are required to check ABS’ website for the latest workshop dates at https://www.asianbankingschool.com/our-programmes/professional-qualifications. 
  1. Candidates are required to complete their qualification enrolment with AICB before registering for training workshops with Asian Banking School (ABS), through ABS’ website: asianbankingschool.com. Terms and conditions apply.

Advanced Certification in Anti-Money Laundering / Counter Financing of Terrorism


EXAM ACTIVITY SCHEDULE 2017 INTAKE
FEBRUARY 2017 AUGUST 2017
Programme Intake Code AC/02/17-11 AC/08/17-12
Enrolment Period 7 Nov 2016 (Monday)
to
3 Jan 2017 (Tuesday)
15 May 2017 (Monday)
to
14 Jul 2017 (Friday)
Workshop & Exam Registration Closing Date 20 Jan 2017 (Friday) 28 Jul 2017 (Friday)
Commencement Intake
(Access to ICA LMS)
13 Feb 2017 (Monday) 14 Aug 2017 (Monday)
Dates for Workshop* Workshop 1
6 – 7 Mar 2017 (Mon – Tue)
Workshop 2
19 – 20 Jun 2017 (Mon – Tue)
Workshop 1
4 – 5 Sep 2017 (Mon – Tue)
Workshop 2
4 – 5 Dec 2017 (Mon – Tue)
Due Date for Assignment 1 8 May 2017 (Monday) 30 Oct 2017 (Monday)
Due Date for Assignment 2 7 Aug 2017 (Monday) 29 Jan 2018  (Monday)
Examination Date 7 Oct 2017 (Saturday) 7 Apr 2018 (Saturday)
Exam Result Release 15 Dec 2017 (Friday) 15 Jun 2018 (Friday)

* Note: Workshops are conducted from 9.00am – 5.00pm at Asian Banking School

Disclaimer:

  1. Both AICB and ICA reserve the right to cancel, suspend, interrupt or reschedule any face-to-face workshops/sessions or examination to another date and will not be liable for any claims, actions, costs, charges, expenses, damages, loss and liability due to the cancellation/deferment of these face-to-face workshops/sessions or examination.
  2. Training workshops for AICB qualifications are conducted by Asian Banking School (ABS). Candidates are required to check ABS’ website for the latest workshop dates at https://www.asianbankingschool.com/our-programmes/professional-qualifications.  
  3. Candidates are required to complete their qualification enrolment with AICB before registering for training workshops with Asian Banking School (ABS), through ABS’ website: asianbankingschool.com. Terms and conditions apply.

Certified Professional in Anti-Money Laundering / Counter Financing of Terrorism


EXAM ACTIVITY SCHEDULE 2017 INTAKE
FEBRUARY 2017
Programme Intake Code
CP/02/17-5
Enrolment Period 12 Dec 2016 (Monday)
to
10 Feb 2017 (Friday)
Workshop & Exam Registration Closing Date
24 Feb 2017 (Friday)
Commencement Intake (Access to ICA LMS) 13 Mar 2017 (Monday)
Masterclass 1* 7 Apr 2017 (Friday)
Masterclass 2* 23 Jun 2017 (Friday)
Masterclass 3* 2 Aug 2017 (Wednesday)
Masterclass 4* 20 Sep 2017 (Wednesday)
Masterclass 5* 1 Nov 2017 (Wednesday)
Masterclass 6* 6 Dec 2017 (Wednesday)
Interview Date To be advised

* Note: Masterclasses are conducted from 1.30pm – 4.30pm at Asian Banking School

Disclaimer:

  1. Both AICB and ICA reserve the right to cancel, suspend, interrupt or reschedule any face-to-face workshops/sessions or examination to another date and will not be liable for any claims, actions, costs, charges, expenses, damages, loss and liability due to the cancellation/deferment of these face-to-face workshops/sessions or examination.]
  1. Training workshops for AICB qualifications are conducted by Asian Banking School (ABS). Candidates are required to check ABS’ website for the latest workshop dates at https://www.asianbankingschool.com/our-programmes/professional-qualifications.
  1. Candidates are required to complete their qualification enrolment with AICB before registering for training workshops with Asian Banking School (ABS), through ABS’ website: www.asianbankingschool.com. Terms and conditions apply.

DOCUMENTATION


The applications submitted will only be processed upon receipt of the full documentations.  Candidates who submit incomplete applications (i.e. incomplete details or incomplete supporting documents) will be given five working days to provide the required information and/or documentation.  If the candidate fails to submit the required information or complete set of relevant supporting documents within the five working days, the application will not be processed.

Below is the list of documents that are required for each qualification.

Qualification Documents Required
 Standard Route (Enrolment)  Accelerated Route (Exemption)
Certification In Anti-Money Laundering And Counter Financing Of Terrorism
  • Certificate of highest qualification (min SPM or equivalent certificate)
N/A
Advanced Certification In Anti-Money Laundering And Counter Financing Of Terrorism
  • Certification in Anti-Money Laundering and Counter Financing of Terrorism (ICA/AICB) Certificate; OR certificate of highest qualification; AND
  • Curriculum Vitae (CV) highlighting work experience in AML/CFT-related function
N/A
Certified Professional In Anti-Money Laundering And Counter Financing Of Terrorism
  • Certificate of highest qualification; AND
  • Qualification transcript; AND
  • Curriculum Vitae (CV) highlighting work experience in AML/CFT-related function
  • Organisation chart showing applicant’s position
N/A

Important notes:

Qualification certificates/transcripts submitted must be certified true copy by one of the following:

  • University Official; OR
  • Notary Public; OR
  • Commissioner for Oaths; OR
  • Officer of the employing organization; OR
  • Such other persons or agents as may be approved by Institute.

The signatory must sign and date the document(s) and provide the following details:

  • Name:
  • Designation:
  • E-mail:
  • Contact Number:

a) If the documents are not in English or Bahasa Malaysia, they must be accompanied by translation of the documents which is done by a certified translator. The credentials and contact information of the certified translator must be stated.

b) Qualifications submitted for enrolment as a candidate for a qualification or for exemption must be awarded by universities/higher education institutions recognised by the awarding country’s Ministry of Higher Education or equivalent authority or the National Qualification Accreditation Agencies.

c) Malaysian qualifications should be listed in the Malaysian Qualifications Register or in Finance Accreditation Agency (FAA) website.

d) AICB reserves the right to contact the awarding institution to verify a candidate’s qualification awards.