Team to take anti-money laundering and financial crimes prevention market to next level

Huda Al-Enezi

KUWAIT: The Anti-Money Laundering and Financial Crimes (AMLFC) Institute is pleased to announce its strategic partnership with Kuwait Compliance Co to offer its internationally-recognized certifications; namely, its Certified Anti-Money Laundering & Financial Crimes Prevention certification (CAMLFC). This partnership is organized to empower AML compliance and financial crimes professionals across Kuwaiti regulated markets with an option for an advanced level of applied knowledge and functional expertise necessary to successfully administer AML competencies across various lines of Kuwaiti businesses.

The CAMLFC Certification provides an overview of Anti-Money Laundering, Countering the Financing of Terrorism and Financial Crimes Prevention. Its curriculum will deliver professionals to the Kuwaiti marketplace with practical knowledge of the field, able to work for the private sector, regulators, enforcement agencies and governments. It is also conspicuously the only international AML certification course that will directly address Kuwait's AML regulatory framework.

Huda Al-Enezi, Founder & GM of Kuwait Compliance Co, said, "Kuwait approaches its FATF mutual evaluation in 2020, keeping up with regulatory changes as well as the ever-growing sophistication of money launderers and funders of terrorism, critical for financial institutions and other regulated entities in Kuwait. Michelle Martin, Chairman and CEO of the AMLFC Institute highlighted the importance to this partnership by stating, "There is currently a shortage of qualified certified anti-money laundering labor globally. With our partner Kuwait Compliance Co, we are launching this international academic certification inspired by Financial Action Task Force recommendations. This certification aims at developing individuals to be able to work for any regulated industry or regulatory agencies. This initiative will provide hands-on practical knowledge to students, addressing the weaknesses often cited by prospective employers thereby ensuring efficient integration into the Kuwaiti marketplace.

"Additionally, the course is offered by experienced teachers and distinguished guest speakers, all eager to share their experience in the AML/FCP field in ways which help Kuwaiti interests to continue to prosper despite regulations." The joint efforts of AMLFC Institute and Kuwait Compliance Co will encompass changes emerging from recent developments in Kuwait and the GCC region's regulatory framework while expanding tangible strategies to reinvigorate current compliance infrastructure with risk-based innovation necessitated by the constantly rising regulatory expectations. "With this strategic partnership with the AMLFC Institute, Kuwait adds yet another distinction in its continued rise globally. We have already made substantial strides in response to recent regulatory developments to ensure regulated entities are equipped with the best-in-class training and consulting solutions," said Huda Al- Enezi, General Manager of Kuwait Compliance Co. Kuwait Compliance will conduct the certification courses, while engaging governmental bodies, regulators, financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) who deal with AML and Terrorism Financing. "Our partnership with the AMLFC Institute is instrumental to creating a body of competent AML compliance professionals by delivering internationally recognized certifications such as CAMLFC to address persistent global challenges in AML and Financial Crimes Prevention," indicated Huda Al-Enezi. "The AMLFC Institute certification programs are competitively-priced and go far beyond the theoretical approaches of other AML/CFT instruction in Kuwait. Having worked extensively with the financial services sector among other designated high-risk sectors in Kuwait, our own certified instructors recognize the positive impact the CAMLFC certification and other specialized certifications by the AMLFC Institute will have on the work of many incumbent and aspiring compliance professionals."