Recently, we released a new course titled – 2022 AML Regulatory Updates. The AML course has been developed by SALVUS Funds, a boutique advisory in Europe, that works exclusively with the Institute to deliver educational courses geared toward investment services professionals in Cyprus.
Within this blog post, we aim to provide information about the anti-money laundering (AML) regulatory framework, why it is important, and how to remain up to date with the latest AML regulatory updates. Additionally, the comprehensive AML course by SALVUS Funds is offered online through our platform at IforPE.
We will begin with the basics of anti-money laundering and then get right down to the nitty gritty of the AML course.
The Cyprus Securities and Exchange Commission (CySEC) is the NCA of the jurisdiction in Cyprus and is thus, responsible for the supervision of all investment and ancillary services offered in and from Cyprus. Moreover, to help with its supervisory responsibilities, strengthen the overall level of professionalism, and enhance competence, CySEC offers the CySEC AML certification along with the CySEC Advanced and Basic certification exams. In a previous blog post, we wrote all about the CySEC certifications and exams.
In a nutshell, the CySEC AML certification is obtained by professionals who wish to work at Cyprus Investment Firms (CIF), Alternative Investment Funds (AIF), Crypto-Asset Services Providers (CASP), and other CySEC regulated entities, to ensure compliance with the AML regulatory framework. Professionals working at Central Bank of Cyprus (CBC) regulated entities and members of the Institute of Certified Public Accountants of Cyprus (ICPAC) can also benefit from obtaining the CySEC AML certification.
The purpose of the CySEC AML certification is to certify successful candidates as fit and proper to execute their duties with competence. Hence, the significance of the AML regulatory framework is pivotal in the protection of the European financial markets. Furthermore, the provisions of the AML regulatory framework not only help establish business relationships, but also ensure the smooth day-to-day operations of CIF, AIF, CASP, and other regulated entities that offer investment services in and from Cyprus.
Through this comprehensive AML course, learners will brush up on existing skills as well as obtain new competencies. Further, learners can also develop the knowledge required to help improve existing company policies and propose enhanced procedures to ensure compliance with the new AML regulatory requirements outlined by CySEC and ESMA.
The syllabus of the AML course covers key AML regulatory topics such as:
- Money Laundering (ML), the stages and methods of ML,
- The Cyprus National Risk Assessment (NRA) 2021,
- The AML Regulatory Framework,
- The 4th AML Directive (AMLD 4)
- The 5th AML Directive (AMLD 5)
- AML Regulatory Updates,
- CySEC Thematic Reviews - Circulars C436 & C437, and
- Compliance Culture and Duties & Responsibilities
The abovementioned AML course material is presented in both PDF slides as well as via online video recordings, that are suited for self-paced learning. Hence, learners undertaking the course have the flexibility to learn wherever and whenever.
In addition to the above AML course contents, learners can further enhance their understanding of the AML regulatory framework through the AML test questions at the end of the course material.
Finally, the 2022 AML Regulatory Updates course also caters to the Continuous Professional Development (CPD) annual requirements CySEC certified professionals must meet to maintain the validity of their CySEC certification. The completion of this AML course includes a certification of attendance and grants the learner with 5 CPD units.
If you have any questions about the 2022 AML Regulatory Updates course or any other training requirements, please contact us - we would love to help.
From all of us at IforPE, the Institute for Professional Excellence,