Published:
Online Anti-Money Laundering Certification Program Comes Handy on Tough Times
MIAMI - (BUSINESS WIRE) - Banks all over the United States, Latin America and Caribbean are facing
a tough dilemma: How to train their employees in anti-money
laundering detection and prevention at a time when budgets
are tighter than ever. Increasing the challenge is the growing
sophistication of money launderers, making it harder than ever to detect
illicit activity. According to the IMF, it is estimated that between 2
to 5 percent of the world's GDP ($962 billion to $2.4 trillion)
represents laundered funds. However, any failure to detect money
laundering activities in the financial institution can result in huge
fines for US banks and significant reputational damage.
With knowledge accumulated over 30 years in the detection and prevention
of money laundering through the financial system, and the support of its
more than 70 member banks from 19 countries, Florida International
Bankers Association (FIBA) has partnered with Florida
International University (FIU) to launch a cost-effective online version
of FIBA-FIU in Anti-Money Laundering Certified Associate (AML/CA)
certification program, which has helped many AML compliance
officers hone their skills and improve their effectiveness at their
institutions.
"The Online
Anti-Money Laundering (AML) Certification program comes at
the perfect time as compliance budgets continue to shrink and work loads
grow. Online learning allows much more flexibility for
busy compliance officers who want to earn their AML
Certification. And for financial institutions, it is a
cost-effective way to train their employees in detecting money
laundering," said Patricia Roth, Executive Director at FIBA.
"The strength of the FIBA-FIU AML Certification is the focus on
practical applications and real-life scenarios," Roth said. "People
recognize in the course the same things that they see in their financial
institutions, and they are able to see how everything fits together."
Save the date for the 10th Annual FIBA Anti-Money
Laundering Compliance Conference held in Miami on February
18-19, 2010.
Florida International Bankers Association, (FIBA), Inc.
Patricia
Roth, Executive Director, 305-579 0086
fiba@fiba.net
www.fiba.net
www.fibatraining.net
www.antimoneylaundering-fiba.com
Copyright © 2009, Business Wire, Inc., All rights reserved.
Copyright © 2009, NewsBlaze,
Daily NewsTags: Business wire, Banking and Finance, florida, Education and schools, Medical, Consulting, Accounting and other Professional Services, Insurance, Legal, Law and Lawyers
Search News
Daily News
