UAE to train anti-money laundering professionals

Two new programme to train 140 professionals in federal and local authorities

The UAE Higher Committee Overseeing the National Strategy on AntiMoney Laundering (AML) and Countering the Financing of Terrorism (CFT) has launched two programmes to train and certify professionals on global compliance standards and procedures to fight illicit finance.

Under the programme, more than 140 professionals working alongside 36 federal and local competent authorities in the UAE will train to obtain their Certified Anti-Money Laundering Specialist (CAMS) certification – the global gold standard in AML certifications or their Certified Global Sanctions Specialist (CGSS) certification – a global programme aimed to equip professionals with the tools required to understand and interpret changing sanctions regimes.

National obligation

“Training AML/CFT practitioners is an essential step towards meeting the challenges posed by today’s global financial system and fulfilling the UAE’s national obligations in combating financial crime,” said Abdulla Bin Touq Al Merri, UAE Minister of Economy.

As part of their training, CAMS recipients will learn how to further safeguard institutions and other supervised entities from financial and reputational harm, including the implementation of a risk-based approach to AML/CFT policies and procedures, the development of a top-down compliance culture, and training on the evolving typologies and risks of financial crime.

The CGSS programme will train mid- to senior-level professionals on the legal framework, regulatory expectations, and criminal typologies associated with the highly complex and rapidly changing sanctions space, including how to identify potential instances of sanctions evasion tied to trade finance and banking, and conduct due diligence reviews of high-risk entities and transactions.

Three-month training

“This partnership is very timely, and allows us to work proactively with institutions in Abu Dhabi. The linchpin of the partnership is the delivery of the ACAMS Certification Programme Series which includes the gold-standard CAMS certification and the Certified Global Sanctions Specialist (CGSS),” said Scott Liles, President and Managing Director of ACAMS.

Following a three-month training period and an examination, participants of both programmes will obtain one of two certifications.