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.

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 Financial Crime Compliance

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 leadership role e.g. heading AML / Compliance / Audit / Risk / Operations with at least 3 years’ experience in that role. Level of seniority is C/C-1 and applicants should be from the Reporting Institutions under the AMLATFPUAA 2001; OR
  • Holding the AICB/ICA Advanced Certification in AML/CFT or in Regulatory Compliance with at least 7-8 years’ experience in a related discipline and currently work in a role that includes senior level responsibilities. The applicant should have the support and recommendation of the Chief Compliance Officer

Certification in Anti-Money Laundering/Counter Financing of Terrorism

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Syllabus Structure

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

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

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Syllabus Structure

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

Certified Professional in Financial Crime Compliance

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Syllabus Structure

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Module 1

Masterclass 1A: Current and Emerging Regulatory ‘Hot Topics’

Masterclass 1B: Using Corporate Governance Compliance for the Benefit of the Firm

Module 2

Masterclass 2A: AML/FCC in the Context of Organised Crime and Corruption

Masterclass 2B: Sanctions: Perspective from the Regulator

Module 3

Masterclass 3A: Strategic Risk Management for Leaders

Masterclass 3B: Development in Financial Crime

Module 4

Masterclass 4A: Cyber Security and Payment Services

Masterclass 4B: The Effective Use of Information Technology in AML/FCC

Programme Fees 


Level 2019 Price (RM)
(Inclusive of 6% Service Tax)
Certification in AML/CFT 6,360
Advanced Certification in AML/CFT 8,480
Certified Professional in Financial Crime Compliance 12,667

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 Financial Crime Compliance
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 leadership role e.g. heading AML / Compliance / Audit / Risk / Operations with at least 3 years’ experience in that role. Level of seniority is C/C-1 and applicants should be from the Reporting Institutions under the AMLATFPUAA 2001; OR
  • Holding the AICB/ICA Advanced Certification in AML/CFT or in Regulatory Compliance with at least 7-8 years’ experience in a related discipline and currently work in a role that includes senior level responsibilities. The applicant should have the support and recommendation of the Chief Compliance Officer

Applicants who do not fully meet the above requirements may be considered case-to-case with the recommendation of the Chief Compliance Officer.

 

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

  1. holds a senior leadership role e.g. heading AML / Compliance / Audit / Risk / Operations with at least 3 years’ experience in that role. Level of seniority is C/C-1 and applicants should be from the Reporting Institutions under the AMLATFPUAA 2001; OR
  2. holds the AICB/ICA Advanced Certification in AML/CFT or in Regulatory Compliance with at least 7-8 years’ experience in a related discipline and currently work in a role that includes senior level responsibilities. The applicant should have the support and recommendation of the Chief Compliance Officer

Applicants who do not fully meet the above requirements [b(i) and b(ii)] may be considered case-to-case with the recommendation of the Chief Compliance Officer.

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 Financial Crime Compliance 


(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

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EXAM ACTIVITY SCHEDULE 2019 INTAKE
AUGUST 2019
Programme Intake Code CE/08/19-17
Enrolment Period* 5 Apr 2019 (Friday) to
31 May 2019 (Friday)
Exam Closing Date or Payment /LND Approval Closing Date 28 Jun 2019 (Friday)
Commencement Intake (Access to ICA LMS) 15 Jul 2019 (Monday)
Dates for Workshop (Group 1)** 5 & 6 Aug 2019 (Monday / Tuesday)
Dates for Workshop (Group 2)** 7 & 8 Aug 2019 (Wednesday / Thursday)
Due Date for Assignment 16 Sep 2019 (Monday)
Exam Date 23 Nov 2019 (Saturday)
Result Release by AICB 7 Feb 2020  (Friday)
Exam Centre KL

Important Notes:

* New candidates are required to complete their qualification enrolments with AICB during the enrolment period.  Applications for qualification enrolments must be submitted with complete documentation, failing which applications will not be processed.

** Note: Workshops are conducted from 9.00 am – 5.00 pm at the 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 examinations and will not be liable for any claims, actions, costs, charges, expenses, damages, losses and liabilities due to the cancellation/deferment of these face-to-face workshops/sessions or examinations.
  2. Please adhere to the above closing dates to avoid any delays in the enrolment or registration process.
QUALIFICATION ENROLMENT & EXAMINATION SCHEDULE FOR 2020

Important Notes:

  1. AICB reserves the right to cancel, suspend, interrupt or reschedule any examinations and will not be liable for any claims, actions, costs, charges, expenses, damages, losses and liabilities due to the cancellation/deferment of these examinations.
  2. Please adhere to the above closing dates to avoid any delays in the enrolment or registration process.

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


EXAM ACTIVITY SCHEDULE 2019 INTAKE
FEBRUARY 2019
Programme Intake Code AC/02/19-15
Enrolment Period* 26 Nov 2018 (Monday)
to
25 Jan 2019 (Friday)
Workshop & Exam Registration Closing Date 22 Feb 2019 (Friday)
Commencement Intake (Access to ICA LMS) 15 Mar 2019 (Friday)
Dates for Workshop** Workshop 1
1 & 2 Apr 2019 (Monday – Tuesday)
Workshop 2
8 & 9 Jul 2019 (Monday – Tuesday)
Due Date for Assignment 1 13 May 2019 (Monday)
Due Date for Assignment 2 12 Aug 2019 (Monday)
Examination Date 5 Oct 2019 (Saturday)
Result Release by AICB 20 Dec 2019 (Friday)
Exam Centre KL
EXAM ACTIVITY SCHEDULE 2019 INTAKE
AUGUST 2019
Programme Intake Code AC/08/19-16
Enrolment Period* 13 May 2019 (Friday)
to
12 Jul 2019 (Friday)
Exam Closing Date or Payment/LND Approval Closing Date 23 Aug 2019 (Friday)
Commencement Intake (Access to ICA LMS) 13 Sep 2019 (Friday)
Dates for Workshop** Workshop 1
7 & 8 Oct 2019 (Monday – Tuesday)
Workshop 2
6 & 7 Jan 2020 (Monday – Tuesday)
Due Date for Assignment 1 11 Nov 2019 (Monday)
Due Date for Assignment 2 27 Jan 2020 (Monday)
Examination Date 4 Apr 2020 (Saturday)
Result Release by AICB 19 Jun 2020 (Friday)
Exam Centre KL

Important Notes:

* New candidates are required to complete their qualification enrolments with AICB during the enrolment period.  Applications for qualification enrolments must be submitted with complete documentation, failing which applications will not be processed.

** Note: Workshops are conducted from 9.00 am – 5.00 pm at the 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 examinations and will not be liable for any claims, actions, costs, charges, expenses, damages, losses and liabilities due to the cancellation/deferment of these face-to-face workshops/sessions or examinations.
  2. Please adhere to the above closing dates to avoid any delays in the enrolment or registration process.

QUALIFICATION ENROLMENT & EXAMINATION SCHEDULE FOR 2020

Important Notes:

  1. AICB reserves the right to cancel, suspend, interrupt or reschedule any examinations and will not be liable for any claims, actions, costs, charges, expenses, damages, losses and liabilities due to the cancellation/deferment of these examinations.
  2. Please adhere to the above closing dates to avoid any delays in the enrolment or registration process.

** The schedule for Certified Professional in Financial Crime Compliance (CPFCC) is pending confirmation from the International Compliance Association (ICA).

Certified Professional in Financial Crime Compliance


EXAM ACTIVITY SCHEDULE 2019 INTAKE
FEBRUARY 2019
Programme Intake Code
CP/02/19-7
Enrolment Period * 26 Nov 2018 (Monday)
to
4 Mar 2019 (Monday)
Payment Approved / Successful 11 Mar 2019 (Monday)
Commencement Intake  15 Mar 2019 (Friday)
Masterclass 1* 4 Apr 2019 (Thursday)
9.00 am – 12.00 pm
Masterclass 2* 4 Apr 2019 (Thursday)
1.30 pm – 4.30 pm
Masterclass 3* 27 Jun 2019 (Thursday)
9.00 am – 12.00 pm
Masterclass 4* 27 Jun 2019 (Thursday)
1.30 pm – 4.30 pm
Masterclass 5* 22 Aug 2019 (Thursday)
9.00 am – 12.00 pm
Masterclass 6* 22 Aug 2019 (Thursday)
1.30 pm – 4.30 pm
Masterclass 7* 31 Oct 2019 (Thursday)
9.00 am – 12.00 pm
Masterclass 8* 31 Oct 2019 (Thursday)
1.30 pm – 4.30 pm
Interview Date To be advised

Important Notes:

* New candidates are required to complete their qualification enrolments with AICB during the enrolment period. Applications for qualification enrolments must be submitted with complete documentation, failing which applications will not be processed.

** Note: Workshops are conducted at the 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 examinations and will not be liable for any claims, actions, costs, charges, expenses, damages, losses and liabilities due to the cancellation/deferment of these face-to-face workshops/sessions or examinations. 
  2. Please adhere to the above closing dates to avoid any delays in the enrolment or registration process.

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 Financial Crime Compliance
  • Certificate of highest qualification; AND
  • Qualification transcript; AND
  • Curriculum Vitae (CV) highlighting work experience in AML/CFT-related function AND
  • Organisation chart showing applicant’s position
  • Recommendation letter from Chief Compliance Officer (if applicable)
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.