Qualification launches to strengthen fight against money laundering

As well as providing employers with the assurance that they are employing a properly trained individual in what has become a vitally important role, the Diploma in Anti Money Laundering, Dip (AML), will also provide Money Laundering Reporting Officers and others carrying out similar functions with clear evidence of professional competence, thus helping their own career progression.

The course can be completed through a flexible distance learning programme in one academic year through an integrated study format consisting of study manuals, on-line support systems and workshops. A formal examination then provides successful students with the designation Dip (AML) and eligibility for membership of the International Compliance Association (MICA).

An alternative qualification of Certificate in Anti Money Laundering Awareness is also available. This is aimed at all staff whose employment requires them to understand the threats posed to financial services business by criminally derived property.

Sally Scutt, deputy chief executive of the BBA said: “The role of MLRO and compliance officers has become critical to every financial services business and it is vital that a


New qualification strengthens fight against money laundering (cont)

properly trained person is in the role. Until now there has been no benchmark against which an individual’s professional competence can be gauged. This new qualification has filled that gap.”

Stephen Platt, Professional Director of ICA said: "In today's regulatory environment businesses must be able to justify why a particular individual has been appointed to discharge the vitally important role of the money laundering reporting officer. Without doubt a professional qualification will assist."

Dr Nick Collett, of the University of Manchester Business School said: "With the advent of the Proceeds of Crime Act and the new Money Laundering Regulations, the pressure on those carrying out the money laundering prevention and reporting function within organisations has increased significantly. Through the Diploma in Anti Money Laundering, competence, professionalism and the ability to carry out what has become an extremely

challenging role can be achieved."

The Certificate in Anti Money Laundering Awareness course costs £400 + VAT for individual enrolment and there are discounts for companies enrolling five or more candidates. The Diploma course costs £1,850 + VAT. Further details can be obtained from Christine Hunter at the BBA on 020 7216 8877. The closing date for receipt of enrolment applications for the first courses is January 30, 2004.