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

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PROFESSIONAL QUALIFICATIONS IN ANTI-MONEY LAUNDERING/COUNTER FINANCING OF TERRORISM (AML/CFT)

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INTRODUCTION TO 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/CFT, 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.

LEARNING OUTCOMES

The qualifications aim to produce AML/CFT professionals who:

  • display a sound understanding and knowledge of the AML/CFT environment on key regulatory requirements by Bank Negara Malaysia (BNM), and the roles and responsibilities of the AML/CFT function and the Money Laundering Reporting Officer (MLRO) Compliance Officer
  • are able to apply the knowledge and skills learnt when carrying out key AML/CFT compliance functions and activities in the workplace
  • are familiar with the various processes and methods of money laundering and terrorist financing, and the types of financial crimes and how to deter them effectively.

TARGET AUDIENCE

Certification in AML/CFT

  • 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

Advanced Certification in AML/CFT

  • Compliance, AML and financial crime officers
  • Money laundering reporting officers
  • Managers responsible for internal compliance controls
  • Internal and external audit staff
  • Company secretaries
  • Legal practitioners and support staff
  • Accountants

Certified Professional in Financial Crime Compliance

  • 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

CERTIFICATION PATHWAYS

For certification pathway details, click here.

ENROLMENT

Candidates are required to submit the prerequisite supporting documents for enrolment. For full details on documentation, click here.

MEMBERSHIP AND PROFESSIONAL DESIGNATION

Members who have completed the Advanced Certification in AML/CFT and the Certified Professional in Financial Crime Compliance will be upgraded to ‘Associate’ status and are entitled to use the membership designation, ‘Associate, AICB’. Click here to find out more.

ENTRY REQUIREMENTS

  1. Candidates are required to be Individual Members of AICB.
  2. Candidates must meet the following entry requirements.
QUALIFICATION ENTRY REQUIREMENTS
Certification in Anti-Money Laundering/Counter Financing of Terrorism

Available to individuals who possess:

  • SPM or an equivalent qualification; AND
  • the ability to complete the reading and written aspects of the programme in English.
Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism

Available to individuals who:

  • have completed the Certification in Anti-Money Laundering/Counter Financing of Terrorism qualification and have at least 1 year of AML-related experience; OR
  • hold a recognised degree or professional qualification and have at least 3 years of AML-related experience.
Certified Professional in Financial Crime Compliance

Available to individuals who:

  • have 3 years’ experience in a C/C-1 role, e.g. leading AML/Compliance/Audit/Risk/Operations in Reporting Institutions under the AMLATFPUAA 2001; OR
  • hold an AICB/ICA Advanced Certification in AML/CFT OR Advanced Certification in Regulatory Compliance, with at least 7–8 years’ experience in senior roles in a related discipline AND are recommended by their Chief Compliance Officer.

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

Approvals

  1. All applications for enrolments or exemptions will be processed according to the requirements set out in the regulations.
  2. Applications will be processed upon receipt of full and complete documentation as stated in the Enrolment section.
  3. Approvals for enrolments or exemptions will be granted based on the information/documents submitted and candidates may be contacted if additional information is required.
  4. Candidates whose qualifications and experience have been assessed by the Institute will be informed of the Institute’s decision within 10 working days of the application date, upon receipt of full and complete documentation.
  5. Where the candidates’ qualifications have not previously been assessed by the Institute, a longer processing time will be required.
  6. Candidates will be informed of the Institute’s decision via email.

ENROLMENT

Candidates who submit incomplete applications (i.e. applications with incomplete details or supporting documents) will be given 30 days to provide the required information and/or documentation, failing which the application will be declined.

The documents required are as follows:

QUALIFICATION DOCUMENTS REQUIRED
Certification in Anti-Money Laundering/Counter Financing of Terrorism
  • Certificate of highest qualification (minimum SPM or an equivalent qualification).
Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism
  • Certification in Anti-Money Laundering/Counter Financing of Terrorism (ICA/AICB) certificate; OR certificate of highest qualification; AND
  • Curriculum vitae (CV) highlighting work experience in AML/CFT-related functions.
Certified Professional in Financial Crime Compliance
  • Certificate of highest qualification OR Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism (ICA/AICB) certificate OR Advanced Certification in Regulatory Compliance (ICA/AICB) certificate; AND
  • Qualification transcript; AND
  • CV highlighting work experience in AML/CFT-related functions; AND
  • Organisation chart showing candidate’s position.
  • Recommendation letter from Chief Compliance Officer (if applicable).

Important notes

  1. The qualification certificates/examination transcripts submitted must be certified as true copies by one of the following individuals:
    • a university official; OR
    • a Notary Public; OR
    • a Commissioner for Oaths; OR
    • an officer of the employing organisation; OR
    • other such persons or agents as may be approved by the Institute.
  2. The signatory must sign and date the documents, and provide the following details:
    • name
    • designation
    • email
    • contact number
  1. If the documents are not in English or Bahasa Malaysia, translated documents by a certified translator must be appended to the submission. The credentials and contact information of the certified translator must be stated.
  2. Qualification certificates that are submitted for enrolments or exemptions must be awarded by universities/higher education institutions recognised by the awarding country’s Ministry of Higher Education or its equivalent, or the national qualification accreditation agencies.
  3. Malaysian qualifications should be listed in the Malaysian Qualifications Register (MQR) or on the Finance Accreditation Agency (FAA) website.
  4. AICB reserves the right to contact the awarding institute to verify the authenticity of the candidate’s qualifications.