ACAMS Awards Scholarships to Upskill Anti-Financial Crime Professionals Across Africa and Facilitate Networking with the Global Compliance Community

The initiative supports anti-money laundering (AML) and sanctions compliance efforts throughout the African continent

WASHINGTON, Feb. 29, 2024 /PRNewswire/ -- ACAMS, a leading international membership organization dedicated to the fight against illicit finance, is offering 20 Certified Anti-Money Laundering Specialist (CAMS) scholarships to anti-financial crime (AFC) professionals from countries that are part of the African continent. Under the global scholarship program, the 20 winners will receive a one-year membership to ACAMS and a full waiver of all fees, including costs for study materials and access to virtual classroom courses for their CAMS certification.

The scholarship winners were selected by a panel of judges from a pool of 526 applicants, more than half of whom reside in three countries – Nigeria (31%), Kenya (14%) and Uganda (7%). More than 86% of applicants were not ACAMS members, underscoring how the program will create new career paths for recipients and aid ACAMS' goal of creating diverse, peer-to-peer networking for AFC professionals globally.

Recipients will learn to implement effective AFC policies and procedures based on risk, drive a top-down culture of compliance on an enterprise-wide basis and shield institutions from enforcement actions and reputational harm. This opportunity to acquire a globally recognized qualification will also equip professionals with a compliance toolkit to aid their understanding of emerging topics and trends in anti-financial crime.

First announced in November, the African continent scholarship program is part of ACAMS' broader commitment to promoting diversity, equity, and inclusion (DEI) throughout the global AFC space. Last year, ACAMS launched dedicated scholarships in Korea and Japan to further reinforce this commitment.

"ACAMS embraces these opportunities to provide scholarships that remove obstacles to professional development for individuals who are passionate about building careers focused on combating financial crime," said ACAMS CEO, Neil Sternthal.

"By offering the scholarship in Africa, we aim to eliminate barriers for aspiring professionals, empowering them to enhance their compliance skills particularly in navigating the complexities of emerging anti-financial crime trends," he added.

"Serving as the Chief Judge for ACAMS AFC Scholarship in Africa was an honor and privilege to see the immense passion and expertise showcased by applicants continent-wide. Each candidate presented a compelling case for their inclusion, demonstrating a deep commitment to combating financial crime," said ACAMS Advisory Board Member and Mastercard Chief Compliance Officer, Howard Fields, who served as Chief Judge for this scholarship initiative.

Details about the judges and recipients of the CAMS Scholarship Africa are available here: http://www.acams.org/scholarships/cams/africa

Find out more about ACAMS Scholarship initiative here: www.acams.org/en/resources/diversity-equity-inclusion/scholarships 

About ACAMS^®

ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime (AFC) education, best practices, and peer-to-peer networking to AFC professionals globally. With over 100,000 members across 180 jurisdictions, ACAMS is committed to the mission of ending financial crime through the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, thought leadership, risk-mitigation services, ESG initiatives, and platforms for public-private dialogue. The association's CAMS certification is the gold- standard qualification for AFC professionals, while its CGSS and CCAS certifications are for sanctions professionals and AFC practitioners working in the crypto space, respectively. ACAMS' 60+ Chapters globally further amplify the association's mission through training and networking initiatives. Visit acams.org for more information.

SOURCE Association of Certified Anti-Money Laundering Specialists (ACAMS)