https://biz.heraldcorp.com/article/10798125

The Financial Intelligence Unit under the Financial Services Commission said Thursday it will introduce a certification regime for outstanding anti-money laundering (AML) training courses and conduct evaluations of AML credentials and specialized education programs, aiming to systematically improve the quality and expertise of AML education and support the development of financial sector professionals.

The move follows the AML and counter-terrorism financing (CFT) education guidelines the FIU announced earlier this year. The initiative is designed to shift the focus from the volume of training completed to the quality and depth of instruction, encouraging the spread of more substantive education. The FIU currently recommends that executives at financial institutions complete at least six hours of AML training.

Under the certification regime, the FIU will evaluate courses on whether they reflect the latest laws, international standards and money laundering trends; whether they incorporate sector-specific risk characteristics, case studies and operational procedures; and whether they demonstrate sound instructional design and measurable learning outcomes. Courses that meet the criteria will be certified as outstanding, and the results will be made public so that those seeking AML training can identify and select high-quality programs.

The FIU will also evaluate credentials and specialized training programs for their suitability, adequacy and effectiveness, with the results feeding into compliance assessments to strengthen the credibility of recognized AML education. Both newly submitted and previously approved programs will be assessed, with the aim of supporting continuous quality improvement and professional development.

Institutions wishing to apply for course certification or program evaluation may submit applications through the FIU website starting Thursday. Courses and programs selected as outstanding will be reflected in the 2027 compliance assessment indicators and will receive incentives including additional evaluation points.

The FIU said it expects the initiative to strengthen financial institutions' ability to manage money laundering risks and build a broader foundation for developing AML professionals across the financial sector. "We plan to continue working closely with training institutions and the industry to develop a practical and effective education system that meets real-world needs," an FIU official said.