Money laundering is regarded as the process where the illicit money is generated by the criminals to launder the money. The terrorist financing takes place by providing a large number of assets to the terrorist along with the resources to pursue their activities.
These two phenomenons differ a lot in many ways they can take advantage of the same susceptibility in the financial systems. Kenya ranks top in the emergence of terrorism and funding. Therefore, international AML, compliance domain, local practices Kenya is engaged in. Kenya has adopted and developed the AML/CFT policies in collaboration with the foreign partners to tackle the financial crimes, terrorist financing. Hence, let us understand the AML Certification in Kenya in detail.
Kenya is facing a lot of problems in the AML, compliance domain. Being regarded as the major financial and trade hub of East Africa, Kenya is liable for money laundering and terrorist financing activities that are happening at large. Therefore, drug Traffickers, International terrorist indulge in crimes. Kenya is under an increasing pressure for implementing the Anti- Money Laundering laws in the country.
In the year 2008, Proceeds of Crime and Anti-Money Laundering bill was introduced and was going through the legal requirements. Immediately in 2009, the confirmation was granted and Proceeds of Crime and Anti-Money Laundering Act was implemented in the Kenya law. Since, this law is regarded as the most exhaustive piece in the AML legislation in Kenya. Kenya government is also looking after the AML/CFT measures. Accordingly, Financial Reporting Center (FRC) establishes a detailed understanding of reporting requirements, penalties, anti-money laundering.
AML Certification in Kenya
Regtech Times Academy has launched “Certified Anti-Money Laundering Professional Program”. CAMP program would rigorously test one’s knowledge in the AML and financial crimes domain. Thus, Certified Anti-Money Laundering Professional Program is one of the best international certification in the AML, compliance domain. Regtech Times Academy offers the best AML certification program recognized globally. Hence, Certified Ant-Money Laundering Professional program is one of the video based learning certification program in the compliance domain.
Certified Anti-Money Laundering Professional is an interesting experience for the compliance professionals. Therefore, the objective of launching this course is to understand the importance of AML, compliance domain.
Regtechtimes Academy offers the short-term online AML courses related to Trade Based Money Laundering. It is a video based learning course. As per the Kenya’s law, the Trade based money laundering is now becoming an emerging trend. So to combat trade based money laundering, the citizens of Kenya should know how to take effective measures. Additionally, this course would give the understanding of the terms of trade, the trade manipulation takes place, the risk associated in TBML etc.
Syllabus of Certified Anti-Money Laundering Professional Program
Following is the syllabus of Certified Anti-Money Laundering Professional Program:
- International case studies on various banks
- Overview of International Laws
- AML/ CFT regulations laid down by FATF
- Diving deep in PEP
The brochure gives you the detailed information about the program. Thus, after completion of the program, the aspirants would get the thorough understanding of the AML, financial crimes, compliance domain.
Eligibility Criteria for opting for the Program
The aspirants who have a keen interest in the AML, compliance domain can opt for the certification program. The persons who want to take up as AML, compliance domain as there career prospects. Anybody who desires to work in the core compliance field. It is also beneficial for the beginners who are keen to understand Anti-Money Laundering measures, terrorist financing, fraud etc. This course is applicable to the person who has a role to play in anti-money laundering compliance.
Certified Anti-Money Laundering Professional Program is a tough nut to crack but by getting proper learning resources, preparation guide one can clear the exam very easily. The aspirants register for CAMP examination. Online exams takes place. Therefore, there is no negative marking criteria. The minimum passing marks for the same is 75%.
Cost of AML Certification
The professionals are unique. Professionals are very keen to build their career path. However, the cost of global certifications plays a major barrier in gaining the certifications. Regtech Times Academy offers courses in a cost effective manner. One of the most popular program offered by Regtech Times Academy is “Certified Anti-Money Laundering Professional Program” which has a global recognition in the market. The cost of this program is $300.00 for an individual to complete this program.