Over 130 anti-money laundering (AML) professionals from the Cyprus financial and legal services sector attended the official ACAMS Cyprus Chapter launch event on November 4, 2015, at the Hilton Hotel, Nicosia. The event, which combined an evening of anti-money laundering/counter-terrorist financing (AML/CTF) networking with keynotes from Stelios Georgakis, assistant director of the Central Bank of Cyprus, and Andreas Andreou, vice chair of Cyprus Securities and Exchange Commission (CySEC), coincided with the eight evaluation visit by the troika of international lenders responsible for Cyprus’ original financial bailout.
Overall, the level of interest shown in registering to study for the globally respected Certified Anti-Money Laundering Specialist (CAMS) designation and applications to join the ACAMS Cyprus Chapter, provided a clear indication that professionals in the Cyprus anti-financial crime (AFC) professional community are keen to invest in developing their skills and knowledge to help with the country’s overall focus on improving banking transparency and implementing the structural reforms required under the terms of the Troika’s financial support. Representatives of MOKAS (Cyprus FIU) and many of Cyprus’ leading professional associations and representatives of the Troika also demonstrated their interest and support by attending.
During the evening, ACAMS, together with Georgakis, and Andreou, recognized the commitment of the Cyprus AML/CTF sector 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.
ACAMS Forms Strategic Training Partnership with EIMF
In addition, as part of its ongoing European member services expansion strategy, ACAMS officially launched its preferred CAMS training partnership with the European Institute for Management and Finance (EIMF). EIMF will support Cypriot AML professionals preparing for the CAMS exam, by offering live CAMS prep training in Nicosia and Limassol.
Earlier the same day, over 65 delegates attended ACAMS’ inaugural training course in the region on “Understanding Your Obligations to Build a Solid Risk-Based AML Program.”
Commenting on behalf of ACAMS, Angela Salter, ACAMS head of Europe said, “AML, CTF and financial crime identification and prevention are global issues. We are very pleased with the level of interest and support we have received from everyone involved in anti-financial crime in Cyprus both in attending yesterday’s training course and in the number of professionals who have agreed to join the ACAMS Cyprus Chapter, as well as the commitment demonstrated by professionals in registering to study for CAMS. ” CAMS is regarded as the global gold standard for AML certifications and is internationally recognized 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 percent higher than non-certified colleagues, according to the 2015 ACAMS AML/CFT/FCP Compensation Survey.
Speaking on behalf of the EIMF, Marios Siathas said, “We are proud to have been chosen to partner with ACAMS, the largest and most respected provider of AML 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 programs, 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.”
EIMF will be running the country’s first live CAMS prep course in Cyprus in March 2016. Gregory Dellas, manager AML Risk Management, International Banking Services at the Bank of Cyprus and newly appointed chair of the ACAMS Cyprus Chapter said, “I am excited by the level of interest in our own local ACAMS chapter and look forward to working with my peers from across the Cyprus AFC (anti financial crime) sector to share knowledge and develop best practices though local learning. The ACAMS Cyprus Chapter welcomes all AML and general compliance professionals in Cyprus, from financial institutions, government, regulators, professional services, FX and a wide range of industry sectors.” Full details of the ACAMS Cyprus chapter board are available on the ACAMS Cyprus Chapter web page here.
For further information about joining the ACAMS Cyprus Chapter please contact Gregory Dellas at firstname.lastname@example.org.