ACAMS scholarship for Korean professionals seeking anti-money laundering training

KUALA LUMPUR - The Association of Certified Anti-Money Laundering Specialists (ACAMS) has launched a new scholarship programme for South Korean compliance professionals seeking to become Certified Anti-Money Laundering Specialists (CAMS).

According to ACAMS in a statement, this is part of its efforts to support the fight against financial crime throughout the Asia-Pacific region.

Under the initiative, ACAMS will award the CAMS Scholarship to 10 Korean compliance practitioners in the anti-financial crime (AFC) space, granting them a one-year membership to the association and a full waiver of all fees for the CAMS exam package.

"This scholarship is a reflection not only of our mission to fight illicit finance around the globe, but also of our commitment to the talented professionals in Korea’s dynamic anti-financial crime sector.

"As South Korea’s financial markets continue to grow, it is critical that compliance professionals are prepared to meet evolving regulatory expectations and face emerging criminal threats,” said ACAMS chief executive officer, Scott Liles.

As part of the programme, scholarship winners will train on a broad array of skills and strategies to detect, track and report illicit financial activity, including global best practices on the effective implementation of anti-money laundering (AML) and counterterrorism financing (CTF) policies and procedures, risk-mitigation controls and suspicious transaction reporting.

Widely recognised as the global standard for AML/CTF credentials, the CAMS programme helps to shield financial institutions worldwide from criminal exploitation, regulatory fines and reputational harm.

The initiative is the third of its kind for ACAMS following the launch in 2021 of the CAFCA Scholarship and CCAS Scholarship in 2022. The CCAS Scholarship attracted entries from AFC professionals from over 100 countries worldwide.

Applicants can apply for the CAMS Scholarship through April 28 and winners will be announced in June. - BERNAMA