CySEC AML Exams Certification: Preparation Course (C2401)
This course prepares you to excel at your upcoming CySEC AML Exams certification. In an 16 hours in-depth online seminar, we cover all chapters included in the examination, by providing digital notes, revision questions, recordings for revision and access to the trainer for additional Q&As support.
CySEC AML Exams Certification Preparation: Table of Contents
- About the CySEC AML Exams Certification Preparation Course
- Who Should attend Cysec AML Exams Preparation Course?
- Cysec AML Exams Preparation: Key Learning Objectives
- CySEC AML Exams Preparation Course: Curriculum
- Meet the Trainer of CySEC AML Exams Preparation
- Fees & Registration Details
- Testimonials From Past Participants
- CySEC AML Exams Preparation - FAQ
- Other Upcoming Courses
About the CySEC AML Exams Certification Preparation Course
Our CySEC AML Exams Certification: Preparation course goes beyond teaching you the stages of money laundering and how to establish your KYC. It prepares you step-by-step on how to achieve excellence on your examination and acquire your CySEC AML Certification.
The purpose of the wider program is to develop the knowledge, skills and attitudes of staff working in accountancy, law and other related offices in matters relating to the fight against money laundering and terrorist financing to be able to they apply the appropriate legislation which is now mandatory by European directive as well as state law. Besides that, while you are enhancing your skills and knowledge you are preparing for your CySEC AML Certification Exams.
During our live 16-hour online preparation seminar, you will prepare for the CySEC AML Examination via interactive and live communication with our expert trainer. Foget just pdfs and presentations; our number one priority is the access to the trainer for real interaction and on-the-spot guidance!
We do provide:
- Digital notes,
- Revision questions for each chapter,
- Mock examinations
- Glossary with abbreviations and key definitions.
Each session is been recorded, and you have access to the recording for revision time and catch-up. Our support does not end with the completion of the seminar. As we know, questions, and clarifications might come up while you are studying for your CySEC AML Certification exams, so our expert trainer is available for further questions that you might have.
Gain now skills for:
- Financial Crime Prevention
- Regulatory Compliance Qualification
- Professional Competence in Anti-Money Laundering
- AML Regulatory Adherence Accreditation
Course Timetable
Who Should attend Cysec AML Exams Preparation Course?
- Executives/Officers of companies providing investment services and investment funds
- Executives of Regulatory Bodies.
- Lawyers
- Accountants
- Brokers and all those liable, based on relevant legislation
Cysec AML Exams Preparation: Key Learning Objectives
By participating in this preparation course and completing it, in respect to knowledge, skills, and attitudes, you will be able to:
- To define what money laundering is and recognize the stages of Money Laundering (Money Laundering).
- To state the main provisions of the control and supervision of the financial system, the competent authorities, their powers, and responsibilities.
- To explain the duties and responsibilities of board members, the compliance officer, the internal auditor, and other personnel within the organization about the FSA/FT.
- To analyze the identification requirements for natural and legal persons (KYC) and to determine the beneficial owner (UBO)
- To establish policies and effective due diligence (CDD) procedures when onboarding a new customer or re-evaluating existing customers.
- To recognize what constitutes a suspicious transaction and the forms and procedures for reporting suspicious transactions and activities (STR/SAR) to the compliance officer or regulatory authorities.
- To list and complete the necessary documents with the appropriate information that must be kept by the business during and after the end of the business relationship with the customer and the schedules of their observance.
- To identify what “red flags” are and how they are identified for PPE.
- To explain the consequences of not timely executing or not executing a suspicious transaction report.
- To apply for each customer a “risk-based approach” assessment (RBA) in regards to AML.
- To perform due diligence measures and to recognize potential risk in each business relationship/agreement.
- Record every activity in all business transactions.
- Prepare and submit internal suspicious activity reports to the AML Compliance Officer, as well as external reports to the appropriate authorities.
- To investigate and execute reports as AML Compliance Officers of the reports presented to them.
- Accept the necessity and training of the fight against ML/TF.
- To protect themselves and the organization they work for in matters related to ML/TF.
- Resist and reject business relationships and/or activities that contribute to ML/TF.
- To adopt protective measures to deal with Money Laundering from Illegal Activities.
- To encourage a culture of regulatory compliance in corporate governance and a culture of training in the organization.
- Motivate the staff for active participation in dealing with AML in their transactions.
CySEC AML Exams Preparation Course: Curriculum
Chapter 1 | Introductory Provisions
- References used in the manual
- The Cyprus Securities & Exchange Commission
- Becoming an AML certified compliance officer
- The objectives of the CySEC AML Certification
- Workbook for the AML Certification Examination
Chapter 2 | Understanding Money Laundering, Terrorist Financing, and Sanctions
- Understanding Money Laundering, Terrorist Financing, and Sanctions
Chapter 3 | Legal and Regulatory Requirements References used in the manual
- Unit for Combating Money Laundering
- The Supervisory Authority
- Main provisions of the AML/CFT Law about criminal liability, offences, and penalties
- European Directives
- FATF
- High Risk Third Countries
- MONEYVAL
- The Combating of Terrorism Law of 2010 (N. 110(I)/2010) on the Fight against Terrorism
- The United Nations Security Council Resolutions and Decisions (Sanctions) and the Council of the European Union (Restrictive Measures) Law of 2016 (58(I)/2016)
Chapter 4 | The AML Compliance Culture
- Basic elements of a strong compliance culture
- Internal Policies, Controls, and Procedures
- The Role of the BoD
- The role and duties of the Compliance Officer, the Alternate Compliance Officer, and Assistants
- The establishment and role of an Internal Audit function
- Employees’ obligations, education, and training
Chapter 5 | Assessing and Managing Risks
- Risk-Based Approach (RBA)
- Identifying ML and TF risks
- Factors to determine risks
- Assessing ML/TF Risks
- Ongoing monitoring of the risk assessment and record keeping
Chapter 6 | Know your Customer (KYC) and Customer Due Diligence (CDD)
- Procedures for the prevention of ML and TF
- Customer Identification and Due Diligence Procedures
- Simplified Customer Due Diligence (SDD)
- Enhanced Customer Due Diligence (EDD)
- Sectoral guidelines for application of Customer Due Diligence measures
- Ongoing Monitoring
- Beneficial Ownership Information
- Reliance on third parties
- CDD in case of networking of Obliged Entities or groups
- Prohibition of cooperation with shell banks
- Processing of personal data
Chapter 7 | Transaction Monitoring and Suspicious Reporting
- Internal reporting procedures and external reporting to the Unit
- Examples of suspicious transactions and activities related to ML and TF
*This training program is designed to support continuing professional development (CPD). Participants are encouraged to verify with their professional body or regulatory authority whether the training meets their individual or institutional CPD requirements.
Fees & Registration Details
Testimonials From Past Participants
CySEC AML Exams Preparation - FAQ
What is the CySEC AML exam?
Who needs to take the CySEC AML exam?
What happen if a miss a session?
Does the course guarantee that I will pass the exam?
Which is the reading material I will get by registering to this CySEC AML Certification: Preparation Course?
Do I get a certificate even if it a preparation course?
How to register to the CySEC AML Certification Exams?
How much is the examination fees?
Which course is best for AML?
- Certified Anti-Money Laundering Specialist (CAMS): The Association of Certified Anti-Money Laundering Specialists (ACAMS) has Certified Anti-Money Laundering Specialist (CAMS) which recognition rivals the AML industry. It is the most popular and proven capacious qualification in the industry. This qualification is for Compliance and AML/financial crime prevention professionals, regulators and law enforcement agencies, among others. It teaches: CAMS curriculum offers an excellent knowledge of international AML typologies, regulatory regulation, customer due diligence, suspicious activity reporting, and compliance program management. The reason behind its popularity: The international presence of the credential and the full syllabus offer it strength in terms of advancing a career in the financial field.
- Certified Financial Crime Specialist (CFCS): Developed by the Association of Certified Financial Crime Specialists (ACFCS), the certification is more comprehensive than CAMS since it deals not only with AML but also with sanctions and fraud investigations as well as cybercrimes.
- International Compliance Association (ICA) Certificates & Diplomas: ICA has a variety of qualifications, including introductory certificate, and advanced diplomas, which are highly recognized and fit the individuals at different levels of their careers. They are modular and often regionalised e.g. to European Union or UK.
- University Programs: Diplomas or courses in financial crime and compliance may be used as a means to gain comprehensive knowledge in the field and may be particularly desirable should you want to enter a senior advisory role.
What is the best AML qualification?
How long is the Center8 AML certification course?
The CySEC Anti-Money Laundering (AML) exam is a professional qualification that Cyprus Securities and Exchange Commission (CySEC) demands. By passing the exam the person is certified as having the qualifications and expertise to address AML tasks in regulated financial institutions in Cyprus.
The exam is mandatory for representatives of any firm regulated by CySEC in the respect of the anti-Money laundering and combatting of financial crime. These are AML Compliance Officers and other compliance, risk management and legal department key personnel.
We do provide recordings for revision time, although for subsidy eligibility conditions, participants must complete a minimum of 75% of the seminar duration. Failing to meet this criterion automatically means the HRDA Subsidy status will be lost, thus, an additional invoice will be issued to cover the subsidy amount (including VAT).
Although we equip you with all you need to pass, including knowledge, resources and the expertise to help you pass, it cannot be guaranteed. Your success is up to you and requires you to be active and committed to the preparation of the material.
Each participant will receive the exclusive preparation booklet packed with everything you need to succeed! From presentation notes to a glossary of all the major terms, as well as revision questions with answers and online mock examinations.
Of course you do! This Live, Online HRDA-approved seminar may be approved for up to 16 CPDs units in Money Laundering. Eligibility criteria and CPD Units are verified directly by your association, regulator, or other bodies in which you hold membership.
All prospective candidates must complete the online application and make payment to receive an automatic payment receipt. Keep in mind that any changes or cancellations to your application can only be made up to eight (8) working days prior to the exam date, and only after paying the relevant fee. Successful candidates can register in the AML compliance officers register within four (4) weeks of receiving the email notification from CySEC. If you happen to fail the exam, you will be required to apply to take the next one within twelve (12) months of the initial start date of the examination. And if you fail again within that period, you wont be able to resume your appointment as an AML compliance officer until you pass the exam. If you have any questions about the exams, please dont hesitate to reach out certifications@cysec.gov.cy
The examination fee is €300.00 and is payable directly to CySEC upon registration to the exam.
Additional Credible Certifications CAMS is the best well-known, but other certifications also are great options depending on your career interests:
The best AML qualification is generally considered the Certified Anti-Money Laundering Specialist (CAMS) certification, offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS)
The Center8 AML certification preparation course is 16 hours long. This duration is designed to cover the full syllabus for the CySEC AML exam, and the course is often structured as an intensive online seminar.
