Local
articles | 03 November 2015

ACAMS launches Cyprus Chapter

The Association of Certified Anti-Money Laundering Specialists (ACAMS) announces its investment in supporting the professional AML and financial crime prevention sector in Cyprus.

As part of its ongoing European Member Services expansion strategy, ACAMS has formed a strategic training partnership with the European Institute for Management and Finance (EIMF) to support Cypriot AML professionals preparing for the Certified Anti-Money Laundering Specialist (CAMS®) qualification.

CAMS®, the Certified Anti-Money Laundering Specialist credential is regarded as the global gold standard for AML certifications and recognised internationally by financial institutions, governments and regulators. Those who gain CAMS position themselves as industry leaders and are highly valued by their employers with salaries 42% higher than non-certified colleagues, according to the 2015 ACAMS AML/CFT/FCP Compensation Survey.

The official launch of ACAMS’ Cyprus Chapter will take place on Wednesday, November 4 at an evening of AML/CTF Networking and VIP Presentations at the Hilton Hotel, Nicosia. During the evening, ACAMS, together with Stelios Georgakis, Assistant Director of AML/CFT Supervision Department of the Central Bank of Cyprus, and Mr Andreas Andreou, Vice Chairman at Cyprus Securities and Exchange Commission (CySEC), will recognise the commitment of the Cyprus AML/CTF sector.

Its mission is to advance compliance education, share ideas about the future and outline what steps the financial community of Cyprus is taking to address the challenges of today’s ever-changing financial regulatory landscape.

“AML, CTF and financial crime identification and prevention are global issues. We are very pleased with the unprecedented level of enthusiasm and support we have received from the Cyprus AFC, sector both in committing to attend our initial training course and in the number of professionals who have already signed up to join the local ACAMS Cyprus Chapter.  This is a clear indication that the Cyprus AFC professional community is determined to shed its former image as a region where international money launderers can operate, and is committed both to furthering banking transparency and to implementing all the corporate governance requirements introduced within the 4th EU Directive,” says Angela Salter, ACAMS Head of Europe.

Speaking on behalf of the EIMF, Mr. Marios Siathas said, “We are proud to have been chosen to partner with ACAMS, the largest and most respected provider of anti-money laundering education globally. The EIMF, as an institute specializing in providing training for the financial and professional services sector in Cyprus, will ensure the high-quality provision of all ACAMS programmes, whether that is training for CAMS certification or CPD for already certified specialists. Furthermore, as the Cyprus ACAMS Training Partner, the EIMF will always provide its support to the local ACAMS chapter.

Other training partnerships developed by ACAMS in Europe have proven highly successful over many years, delivering locally relevant training alongside the CAMS globally recognized qualification. Most recently, ACAMS celebrated 8 years in partnership with Luxembourg’s House of Training Institutions: the ATTF (Financial Technology Transfer Agency) and IFBL (Institute for Training in Banking, Luxembourg), with whom over 160 candidates have now attained the CAMS credential.

Gregory Dellas, Manager of AML Risk Management, International Banking Services, at the Bank of Cyprus, and newly appointed Chair of ACAMS Cyprus Chapter said, “I am excited by the launch of our own, local ACAMS Chapter and the opportunity to work with peers from across the Cyprus AFC sector to share knowledge and experiences and develop best practices through local learning. ACAMS’ Cyprus Chapter will welcome all AML and general compliance professionals in Cyprus, from government, local regulators, across the industry and within professional practice”.

ACAMS’ Evening of AML/CTF Networking and VIP Presentations will take place on Wednesday, November 4, at the Hilton Hotel Nicosia.

For further information about joining the ACAMS Cyprus Chapter contact Margo Vakharia at mvakharia@acams.org or call +44 20 7956 8886.

Source: InCyprus

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