UK’s CISI to boost PHL’s anti-money laundering capacity thru e-learning, training of professionals

London-based Chartered Institute for Securities & Investment (CISI) said Wednesday it aims to boost the Philippines’ capacity to fight money laundering and terrorism financing through continuous professional development.

In May, the Anti-Money Laundering Council (AMLC) accredited CISI’s Anti-Money Laundering/Combating the Financing of Terrorism (AML/CTF) professional financial assessment program, wherein it will offer e-learning and training to banking and finance professionals.

“The AML/CFT training modules and the continuous outreach and training of professionals are within the AMLC’s strategic objectives in combatting money laundering and terrorism finance,” CISI Philippines country manager Andrella Guzman-Sandejas said.

“Despite the challenges, the Philippine government is improving its AML posture. The government took additional steps in 2019 to build the capacity of its FIU (Financial Intelligence Unit) and interagency cooperation,” Sandejas said.

The CISI professional assessment program consists of an online learning workshop and test, and it provides the AMLC with a unified record of compliance.

“Being able to offer an island wide, internet-based training and test, helps improve knowledge and fight terrorism,” Sandejas said.

The program is an online certificate designed to help banking, finance, and securities professionals in understanding existing laws and regulations against money laundering and terrorism financing.

This enables firms and individuals to comply with the government-mandated Anti-Money Laundering Act (AMLA) training requirements and international standards.

Sandejas said that private efforts through professional development will play in furthering the advocacy of AMLC and the Department of Finance against money laundering and terrorism finance.

Aside from the interactive educational module against money laundering and terrorism finance, CISI has a number of projects in the pipeline — specifically tailored to the growing demands of the Philippine financial market.

“We are currently piloting an app which will mean members globally can undertake their continuing professional development (CPD) via mobile device, with their completed modules being uploaded instantly to their member account. The app will also allow exams to be booked and other member benefits to be accessed,” Sandejas said.

Founded in 1992, CISI is a Royal-chartered, not-for-profit UK professional body for those who work in the financial services and investment profession worldwide. With 45,000 members globally and qualifications recognized by 61 regulators. Its regional headquarters for Asia Pacific is in Manila.—AOL, GMA News