EBRD and ACAMS work to enhance anti-financial crime training in Middle East and North Africa

In an effort to bolster anti-money laundering (AML) and sanctions compliance efforts, the European Bank for Reconstruction and Development (EBRD) and the Association of Certified Anti-Money Laundering Specialists (ACAMS) have partnered to provide more robust training programs in Egypt, Jordan, Lebanon, Morocco, Tunisia, the West Bank, and Gaza.

As part of the new initiative, 90 students in Egypt, Jordan, Lebanon, Morocco, and Tunisia will have the chance to work towards a Certified Anti-Money Laundering Specialist (CAMS) credential. 

Meanwhile, a further 30 students in the West Bank and Gaza will be able to follow both CAMS and Certified Global Sanctions Specialist (CGSS) credentials. As part of the program, students will have their course fees paid for, and will be given study resources and access to Virtual Classroom courses. 

In addition, candidates will receive an annual membership to the Association of Certified Anti-Money Laundering Specialists (ACAMS) at no cost. ACAMS will be launching a new co-located chapter, the North Africa & Levant Chapter, in October 2023 with the support of the European Bank for Reconstruction and Development (EBRD). The chapter will focus on providing education and professional development in anti-financial crime and sanctions compliance for its members in the region. ACAMS and EBRD are currently in the process of reviewing board members for the chapter.

According to Scott Liles, CEO of ACAMS, the partnership with EBRD will help protect the rule of law and financial institutions in North Africa and the Palestinian territories. Such collaborations are critical in the global fight against financial crime, as they support international compliance standards and drive investigations that lead to asset forfeitures and arrests of financially-motivated criminals.

Heike Harmgart, EBRD Managing Director for the Southern and Eastern Mediterranean region, has stated that they are proud to roll out the AML and AFC programs in North Africa and the Levant, building on the progress achieved in partnership with ACAMS. 

In 2020, ACAMS and EBRD granted scholarships to 70 compliance leaders in Ukraine, Georgia, and Moldova to pursue CAMS certifications, which was the foundation of this new venture. The European Union (EU) funded the first set of EBRD scholarships. Moreover, the establishment of the Eurasia chapter in 2021 added to the professional education and networking programs for compliance professionals in various countries, such as Armenia, Azerbaijan, Kazakhstan, and Kyrgyzstan.

Overall, this new initiative looks set to further educate and train professionals in anti-financial crime and sanctions compliance in the global region.