AML Certification in Algeria

Algeria is one of the countries which faced unrest over the corruption of its President. In the year 2019, Abdelaziz Bouteflika was forced to resign from his post as President. Later his secret daughter was arrested along with two other Ex-Prime Ministers of the country. The most important barrier of maintaining an effective operating interanational financial system is money laundering.

Money laundering is a financial crime which involves complex serious of transactions and the financial institution across any foreign jurisdiction. Money Laundering is intensely difficult to investigate and prosecute. Banks face lot of AML obligations so they do identification of customers by doing the adverse media screening that consist of searching information in public domain. Compliance, AML requres identity checks against the money launderers, terrorist etc.

Money laundering and terrorism finance are the two wrongdoing which perpetually threatens the global financial market. Criminals try to disguise the origins of money by doing illegal activities. Algeria’s formal financial systems has now become minimal due to the strict regulations and a banking sector denominated by the state-owned bank. Algerian government monitors the banking system closely.

Criminal activities in Algeria include trafficking, particularly having bulk cash, drugs, cigarettes etc. Terrorism financing and public corruption is the serious money laundering challenge in Algeria. Smuggling flourishes as penetrable border allows it. The country is making progress to combat money laundering. Government of Algeria has updated the criminal laws on terrorist financing and has issued new guidelines to the Bank of Algeria and Ministry of Finance’s Financial Intelligence processing unit (CTRF), Algeria’s FIU. Therefore, Algeria is no longer subject to the FATF’s monitoring process.

Algerian Islamist has also contributed to the Algerian Terrorism financing that is taking place in the country. The emergence of “Boko Haram” is regarded as the designated terrorist organization. It has now developed into one of the deadliest terrorist groups that is in operation globally. Boko Haram is regarded as one of the strongest terrorist financing organization in Algeria. Thus, to combat the terrorist financing the person should know the measures, procedure of money laundering.

Certified Anti-Money Laundering Professional

As a part of ongoing effort to enhance Anti-Money Laundering, financial crime, compliance globally, Regtech Times Academy launches its certification program on AML for the beginners those who want to build up their career in this domain. The Certified Anti-Money Laundering Professional program establishes a new global standard for the AML, compliance professionals. This course was initiated to address the provisions of Prevention of Money Laundering Act. This program would be an interesting experience for AML, compliance professionals.

The aim of launching this course is to put forth the importance of AML, compliance domain while conducting the regular business, as well as it would have a lot of impact on the entire society.  It is designed to provide the aspirants with the keen knowledge in AML and compliance domain.   The program would introduce one with the basic elements related to the AML domain. This program is tailored to fit the needs of AML and compliance professionals.

Is this course right for the aspirants?

This program  is a video learning based course. It is available for anyone who is keen to understand the subject as well as the concept in detail. This program would provide the aspirants of the AML related knowledge and would also develop interest in the field. By doing this course one can become a knowledgeable professionals in the AML industry.

Syllabus of CAMP

Following is the syllabus of Certified Anti-Mney Laundering Professional Program:

  • International case studies on various banks
  • Diving deep in Politically Exposed Person
  • Overview of International Laws
  • AML/ CFT regulations laid down by FATF

The detailed syllabus is provided in the course brochure. After completion of the program, the professionals would get a through understanding of the terms related to AML, compliance domain.

Eligibility Criteria

This program is applicable for anyone who is interested in understanding the the different types of AML, compliance concepts. It is also applicable to the aspirants who want to choose AML, compliance domain.