Five scholarships have been awarded to anti-financial crime (AFC) professionals in Hong Kong to strengthen sanctions compliance and fortify the region’s financial crime prevention capabilities
HONG KONG, Oct. 24, 2024 (GLOBE NEWSWIRE) — ACAMS, a leading global membership organization dedicated to the fight against illicit finance, in partnership with the ACAMS Hong Kong Chapter, is pleased to announce the recipients of its CGSS scholarship program for Hong Kong permanent residents. The program aims to cultivate local talent in sanctions compliance, arming them with the expertise, resources and peer support to excel in their careers and reinforce AFC efforts in Asia.
This initiative is timely as Hong Kong navigates the evolving sanctions landscape, requiring compliance professionals with advanced skills and up-to-date knowledge.
Five AFC professionals who are permanent residents of Hong Kong and work in sanctions functions or at financial institutions were awarded:
- CGSS exam package, including all study materials;
- Virtual classroom;
- One-year ACAMS membership.
The latest CGSS certification program features up-to-date, real-world case studies and a flexible modular format to support practical learning for busy professionals. CGSS-certified individuals are equipped with specialized skills to better manage sanctions risk, establish an effective sanctions compliance program and demonstrate compliance with constantly evolving regulatory requirements.
“We are delighted to support these talented individuals as they advance their careers and amplify anti-financial crime efforts in Hong Kong and the region,” said Neil Sternthal, ACAMS CEO. “The modular format of the Certified Global Sanctions Specialist (CGSS) certification is specifically designed to accommodate the demanding schedules of AFC professionals while ensuring they receive targeted training to effectively combat financial crime.”
Moray Taylor-Smith and Ajay Budhrani, Co-Chairs of the Hong Kong Chapter, added: “The financial crime landscape is increasingly complex, particularly with the rise of digital assets, sophisticated laundering schemes and evolving sanctions regimes. By investing in motivated and capable talent through this scholarship, we are strengthening the region’s defenses and empowering the next generation of AFC leaders to make a significant impact.”
Scholarship submissions were reviewed by a select panel of judges: Moray Taylor-Smith, Hong Kong Chapter Co-Chair and Executive Director of Security, Integrity and Information Security, The Hong Kong Jockey Club; Jude Jung, Consultant of AFC Solutions, ACAMS for the Republic of Korea; Justin Lam, Head of Transaction and Fraud Monitoring, a retail bank in Hong Kong; and Tony Tse T F, Chief Inspector, Hong Kong Police Force.
More details about the scholarship recipients and judges are available here.
Find out more about the ACAMS Scholarship initiative here.
About ACAMS®
ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime education, best practices, and peer-to-peer networking to AFC professionals globally. With over 110,000 members across 200+ jurisdictions and territories, 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.
About the CGSS Certification
Developed for professionals with 18 months to two years of experience in financial crime compliance, the CGSS certification helps them demonstrate the knowledge necessary to manage risks related to sanctions and ensure greater sanctions compliance. CGSS has been developed with active input from a cohort of recognized sanctions and AFC subject matter experts, including those from regulatory and law enforcement backgrounds. CGSS answers the need for an in-depth training program in sanctions compliance, to help industry professionals better respond to the current challenges. It can be deployed to teams globally, ensuring they are trained against the same standards and their specialized knowledge is formally recognized. CGSS-certified teams enable organizations to better manage sanctions risk, establish an effective sanctions compliance program and demonstrate compliance with constantly evolving regulatory requirements.
About the ACAMS Hong Kong Chapter
The ACAMS Hong Kong Chapter was founded in March 2012 to facilitate cooperation between private and public sector professionals in deterring financial crime. The Chapter’s mission is to strive for excellence in preventing money laundering and the financing of terrorism, by creating a forum in Hong Kong and Asia for training and the exchange of ideas within the financial services community. In 2021, it won the title of “ACAMS Chapter of the Year.”
Find out more about the ACAMS Hong Kong Chapter here.
Media Contact:
Rose Dahlan
rdahlan@acams.org
