Launch of the ACAMS chapter in Eurasia with the aim of reducing regional exposure to trade-based money laundering and other financial crimes

Launched as part of a strategic partnership between ACAMS and the European Bank for Reconstruction and Development, the chapter will serve as an anti-financial crime platform for compliance professionals in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Moldova and Ukraine

Chicago, June 23, 2021 (GLOBE NEWSWIRE) – As part of ongoing efforts to protect Eurasia’s banking and business sectors, ACAMS, in partnership with the European Bank for Reconstruction and Development (EBRD), launched the Eurasia Chapter of ACAMS to serve compliance professionals in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Moldova and Ukraine. The creation of the chapter, which is co-located with board members in the seven countries, builds on a June 2020 agreement between the two organizations to train bankers on the EBRD’s trade facilitation program on compliance strategies to fight money laundering, terrorist financing, fraud sanctions, fraud and other financial crimes.

Under the 2020 agreement, 70 compliance professionals from partner banks in Ukraine, Georgia and Moldova received scholarships from ACAMS and EBRD to study and achieve Certified Anti-Counterfeit Specialist certifications. money laundering (CAMS) and broaden their financial crime fighting (AFC) skills and knowledge through in-person trainings and events. The EBRD scholarships have been funded by the European Union (EU). The launch of the Eurasia Chapter in 2021 will complement other professional training and peer-to-peer networking efforts for compliance professionals across the region, including Armenia, Azerbaijan, Kazakhstan and Kyrgyzstan.

ACAMS Eurasia Chapter will serve as a platform for sharing knowledge and AFC compliance best practices tailored to address regional risks and regulatory concerns, as well as for networking and collaborative initiatives. between professionals dedicated to the fight against illicit financing in the private and public sectors. sectoral roles. Section board members in the seven countries will separately organize and host ACAMS training events in English, Russian and seven regional languages.

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The joint initiatives follow research indicating that many banks in the EBRD’s trade facilitation program have found it increasingly difficult in recent years to obtain trade finance facilities from foreign commercial banks, in part to cause of the obstacles and costs of compliance with the AFC.

“Our partnership with the EBRD over the past year has highlighted one thing about compliance professionals in the region: they are eager to do their utmost to protect Eurasian institutions from money launderers. money and other illicit actors, ”said ACAMS President and CEO Scott Liles. “It is this enthusiasm that has taken us to the next step in launching what is truly a unique addition to the ACAMS family, and we are confident that the Eurasia chapter will only grow in the months and years to come.” as members see what can come from continuing education and close collaborations in the AFC sector.

“Strict compliance checks have become a requirement for access to foreign financing and correspondent banking relationships, which are essential for cross-border trade,” said Matteo Patrone, EBRD Managing Director, Eastern Europe and Caucasus .

“Our work to date with ACAMS has already made significant progress in mitigating the exposure of Eurasian banks to trade-based money laundering and other forms of illicit financing, and we are pleased to build on this progress by opening up compliance training to institutions across the Region. The Eurasia chapter of ACAMS is an important step towards removing barriers and improving trade between the economies where the EBRD operates, ”he said.

Officially launched on June 23, 2021, the Eurasia Chapter of ACAMS will be jointly overseen by board members based in Yerevan, Baku, Tbilisi, Nur-Sultan, Bishkek, Chisinau and Kiev. Find out how to register here: https://www.acams.org/en/chapters/europe/eurasia-chapter

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About ACAMS®

ACAMS is a member of Adtalem Global Education (NYSE: ATGE), a leading workforce solutions provider headquartered in the United States. ACAMS is the largest international membership organization dedicated to enhancing the knowledge and skills of anti-money laundering (AML) and financial crime prevention professionals across a wide range of industries. . Its CAMS certification is the most widely recognized AML certification among compliance professionals around the world. Its new Certified Global Sanctions Specialist (CGSS) certification began in January 2020. Visit acams.org for more information.

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About the EBRD

The European Bank for Reconstruction and Development (EBRD) was founded in 1991 to help build a new post-Cold War era in Central and Eastern Europe, and is currently active in nearly 40 economies on three continents, from the south and east of the Mediterranean. , to central and eastern Europe, to central Asia. He has since played a historic role and acquired unique expertise in driving change in the region – and beyond – by investing nearly 150 billion euros in a total of more than 6,000 projects.

The EBRD’s trade facilitation program, launched in 1999, aims to promote foreign trade to, from and between the economies in which the EBRD invests. Under this program, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors. The EBRD’s PTF currently includes more than 100 partner banks in 30 economies where the EBRD invests and more than 800 confirming banks worldwide.

CONTACT: Lashvinder Kaur ACAMS +44 27388264478 [email protected]