Assessment

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

A. Certification in AML/CFT

a. Assessment Structure
Type of AssessmentWeightage (%)
1 assignment of approximately 2,500 words50
1 open book examination of 1 hour 45 minutes (15 minutes reading time)50

Assignment

Referencing and plagiarism

  1. Failure to properly reference content, and plagiarism are taken seriously. Referencing methods are set out in Appendix 3 of the ICA Study Handbook.
  2. Any candidate found guilty of plagiarism will be subject to appropriate disciplinary procedures and sanctions.

Marking scheme

  1. Assignments are forwarded to the first marker for a detailed review and given a score out of a total of 100 marks.
  2. All assignments graded higher than 70% or less than 50% together with a percentage of all assignments initially graded between 51% and 69% are automatically independently reviewed by a second marker.
  3. All assignments graded higher than 70% and less than 50% at the second review are then examined by a third marker, prior to the internal marking team agreeing on the final score.

Examination

Question FormatEssay
No. of Questions5 (candidates to choose 2)
Examination Duration1 hour 45 minutes (15 minutes for reading)
Passing Mark50%
Examination Delivery

Open book. Online examination.

b. Grade Bands

Results will be expressed in the following grade bands:

Grade BandMarks (%)
Distinction70 and above
Merit60 – 69
Pass50 – 59
Marginal Fail40 – 49
Fail39 and below
c. Criteria for Passing

The passing mark is 50% of the total mark allocation for the assignment and examination. The examination mark is added to the assignment mark and averaged to determine the final assessment result. The passing mark is 50. However, if either the assignment or the examination mark is below 40, this will be deemed as a fail and a re-sit is required.

d. Supplementary Award

In addition to the Certificate in AML/CFT award, candidates will obtain the international award, Advanced Certificate in AML/CFT, which is awarded by ICA in association with Alliance Manchester Business School, the University of Manchester.

B. Advanced Certification in AML/CFT

a. Assessment Structure
Type of AssessmentWeightage (%)
2 assignments of approximately 3,000 words each50
1 open book examination of 3 hours 15 minutes50

Assignment

Referencing and plagiarism

  1. Failure to properly reference content, and plagiarism are taken seriously. Referencing methods are set out in Appendix 3 of the ICA Study Handbook.
  2. Any candidate found guilty of plagiarism will be subject to appropriate disciplinary procedures and sanctions.

Marking scheme

  1. Assignments are forwarded to the first marker for detailed review and given a score out of a total of 100 marks.
  2. All assignments graded higher than 70% or less than 50% together with a percentage of all assignments initially graded between 51% and 69% are automatically independently reviewed by a second marker.
  3. All assignments graded higher than 70% and less than 50% at the second review are then examined by a third marker, prior to the internal marking team agreeing on the final score.

Examination

Question FormatEssay
No. of Questions5 (Candidates to choose 2)
Examination Duration3 hours 15 minutes (15 minutes for reading)
Passing Mark50%
Examination Delivery

Open book. Online examination.

b. Grade Bands

Results will be expressed in the following grade bands:

Grade BandMarks (%)
Distinction70 and above
Merit60 – 69
Pass50 – 59
Marginal Fail40 – 49
Fail39 and below
c. Criteria for Passing

The passing 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 passing mark is 50. However, if either the assignment or the examination mark is below 40, this will be deemed as a fail and a re-sit is required.

d. Supplementary Award

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

C. Certified Professional in Financial Crime Compliance

a. Assessment Structure

i. Masterclass

Candidates are required to attend 8 Masterclasses.

ii. Written Assessment: Reflective Journal

Candidates are required to submit 1 reflective journal of 8,000 words evaluating the 8 Masterclasses (1,000 words per Masterclass).

The reflective journal should depict the candidates’ learning journey and provide evidence of how the learnings have been applied to their respective roles and organisations.

Each evaluation must include a short summary of the learning points from each Masterclass that the candidate considers to be the most significant for his/her role. This may be in the form of a bulleted list, but a solid rationale must be provided for each learning point selected. Candidates must also demonstrate further reading and research, and identify actions that were / will be taken to apply what was learnt.

For no more than 4 of these evaluations, it is sufficient that the candidates demonstrate only an understanding of the key learning points outlined in the Masterclass. However, at least 4 evaluations must substantially focus on how the relevant learnings have been applied and how they have impacted the candidates' practice.

Candidates will not be permitted to attend the oral interview if:

  • the evaluation is not submitted, or
  • the reflective journal is submitted late,

without providing AICB with a good reason.

iii. Interview

A face-to-face interview which takes approximately three hours and maps the candidate’s skills against the competencies for the programme.

  • Interview Assessment Committee
    The interviewers are senior assessors from the ICA. Guidelines on the interview are from the 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, which takes approximately three hours.
  • Interview Schedule
    The interview will be scheduled upon the candidates’ successful completion of the eight masterclasses.
  • Interview Venue

    The interview will be held virtually via Zoom or MS Teams.

b. Results

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

c. Reassessments

Candidates can be re-assessed on individual competencies.

d. Award Requirements

Candidates must be declared as ‘Competent’ in all eight competencies to be granted the award.

e. Supplementary Award

In addition to the Certified Professional in Financial Crime Compliance award, candidates will obtain the international award, the International Post-Graduate Diploma in Anti-Money Laundering, which is awarded by ICA in association with Alliance Manchester Business School, the University of Manchester.