AMLC accredits CISI to hold e-learning, training for finance professionals | Inquirer News

AMLC accredits CISI to hold e-learning, training for finance professionals

By: - Reporter / @KHallareINQ
/ 03:05 PM July 21, 2020

MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has accredited a securities and investment professional body to conduct an e-learning and training program for banking and finance professionals, as well as capital markets in the Philippines.

In a statement released Tuesday, the Chartered Institute for Securities & Investment (CISI) said that the program called the CISI Anti-Money Laundering/Combating the Financing of Terrorism Professional Assessment (AML/CFT) is an “online certificate designed for practitioners who need to comply with the annual AMLC requirement for training.”

“In this program, it will no longer be necessary for individuals to attend third-party centers for instruction and testing as this can be done online at any time of the day or night,” the CISI added.


The CISI said that the program will give an overview of the current AMLC/CFT legislation and regulation.


The modules for the program, CISI added, are specifically tailored for bank workers, money-service businesses/pawnshops, as well as those regulated by the Securities and Exchange Commission.

This comes as a 2019 evaluation report released by the intergovernmental organization Asia/Pacific Group on Money Laundering (APG), finds that the Philippines has weaknesses with “assessments and understanding of transnational aspects of terrorism financing and money laundering risks.”

“We are honored to be able to support the AMLC in its commitment to ensuring robust training and competence standards for those working in the Philippine capital markets,” CISI chief executive officer Simon Culhane said.

“We are excited to offer an affordable, accessible, readily-available, online solution that will help to increase the effectiveness of all staff to fight money laundering and terrorism financing,” CISI Asia Pacific regional head Andrella Guzman-Sandejas, said in the same statement.

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TAGS: AMLC, Banking, CISI, Finance

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