HONG KONG, Aug. 05, 2024 (GLOBE NEWSWIRE) -- In an effort to amplify anti-financial crime (AFC) efforts in Asia, ACAMS, a leading global membership organization dedicated to the fight against illicit finance, has partnered with the ACAMS Hong Kong Chapter to offer a new scholarship program specifically for Hong Kong permanent residents.
This initiative is designed to cultivate local talent in sanctions compliance by providing comprehensive support to attain the CGSS certification, including the skills, knowledge and peer connections to excel in their careers.
ACAMS will award the scholarship to five AFC professionals who are permanent residents of Hong Kong and who work in sanctions functions or at financial institutions. Recipients will receive the following at no cost:
- CGSS exam package, including all study materials
- One-day live preparation course
- One-year ACAMS membership
Additionally, the eligible recipients will also receive a one-year membership to the ACAMS Hong Kong Chapter.
The latest CGSS certification program features up-to-date, real-world case studies and a flexible modular format to support practical learning for busy professionals. CGSS-certified individuals are equipped with specialized skills to better manage sanctions risk, establish an effective sanctions compliance program and demonstrate compliance with constantly evolving regulatory requirements. ACAMS members will join a global community of over 100,000 AFC experts across 180 jurisdictions, with access to exclusive online courses, webinars, networking, and mentoring.
“We are thrilled to offer this scholarship program to support the next generation of AFC leaders in Hong Kong,” said Neil Sternthal, ACAMS CEO. “This initiative will empower them to better mitigate risk and build robust sanctions compliance regimes in a leading financial hub.”
Moray Taylor-Smith and Ajay Budhrani, Co-Chairs of the Hong Kong Chapter, added: “The financial crime landscape has changed. With the emergence of new technologies, criminals are more likely to leverage digital assets, shell companies and mule accounts to launder the proceeds of crime. In much the same way, new entrants to the compliance profession need to be motivated, curious, and well-equipped both in the technical aspects of financial crime compliance, as well as in using technology to manage risks effectively. We hope these scholarships are a start in bringing such individuals into the profession and set them on a journey to help shape the industry.
The scholarship is now open for applications until August 30. Recipients will be announced in October. Submissions will be reviewed by a select panel of judges, including Moray Taylor-Smith, Hong Kong Chapter Co-Chair and Executive Director of Security, Integrity and Information Security The Hong Kong Jockey Club, and Jude Jung, Consultant of AFC Solutions at ACAMS for the Republic of Korea.
Eligible scholarship applicants must be permanent residents of Hong Kong with 40 qualifying credits based on education, other professional certifications, and/or professional experience in the AFC compliance field. This includes at least 18 months of AFC experience and work related to financial services, law enforcement, or the regulatory sector. Learn more about the ACAMS Scholarship Hong Kong, including eligibility criteria and how to apply, https://www.acams.org/en/resources/diversity-equity-inclusion/scholarships/cgss-scholarship-hong-kong
About ACAMS®
ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime education, best practices, and peer-to-peer networking to AFC professionals globally. With over 100,000 members across 180 jurisdictions, ACAMS is committed to the mission of ending financial crime through the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, thought leadership, risk-mitigation services, ESG initiatives, and platforms for public-private dialogue. The association’s CAMS certification is the gold-standard qualification for AFC professionals, while its CGSS and CCAS certifications are for sanctions professionals and AFC practitioners working in the crypto space, respectively. ACAMS’ 60+ Chapters globally further amplify the association’s mission through training and networking initiatives. Visit acams.org for more information.
About the CGSS Certification
Developed for professionals with 18 months to two years of experience in financial crime compliance, the CGSS certification helps them demonstrate the knowledge necessary to manage risks related to sanctions and ensure greater sanctions compliance. CGSS has been developed with active input from a cohort of recognized sanctions and AFC subject matter experts, including those from regulatory and law enforcement backgrounds. CGSS answers the need for an in-depth training program in sanctions compliance, to help industry professionals better respond to the current challenges. It can be deployed to teams globally, ensuring they are trained against the same standards and their specialized knowledge is formally recognized. CGSS-certified teams enable organizations to better manage sanctions risk, establish an effective sanctions compliance program and demonstrate compliance with constantly evolving regulatory requirements.
About the ACAMS Hong Kong Chapter
The ACAMS Hong Kong Chapter was founded in March 2012 to facilitate cooperation between private and public sector professionals in deterring financial crime. The Chapter’s mission is to strive for excellence in preventing money laundering and the financing of terrorism, by creating a forum in Hong Kong and Asia for training and the exchange of ideas within the financial services community. In 2021, it won the title of “ACAMS Chapter of the Year.”
Find out more about the ACAMS Hong Kong Chapter, including how to join, here.
Media Contact:
Lashvinder Kaur
lkaur@acams.org
+44 7388 264478
