As part of their fight against financial crime around the world, the European Bank for Reconstruction and Development (EBRD) and the Association of Certified Anti-Money Laundering Specialists (ACAMS) have launched two scholarship programmes to provide anti-money laundering (AML) and sanctions compliance training to 120 anti-financial crime (AFC) professionals throughout the southern and eastern Mediterranean region (SEMED).

Under the initiative, 90 scholarship recipients in Egypt, Jordan, Lebanon, Morocco and Tunisia will pursue Certified Anti-Money Laundering Specialist (CAMS) credentials, while another 30 in the West Bank and Gaza will test for both the CAMS and Certified Global Sanctions Specialist (CGSS) credentials. In addition to a full waiver of fees for the programmes, including the cost of study materials and access to virtual classroom courses, participants will also receive annual membership of ACAMS at no cost.

With the support of the EBRD, ACAMS will now launch a new co-located chapter – the North Africa & Levant Chapter – in October 2023 to support regional AFC and sanctions compliance education and professional development for its members. Both ACAMS and the EBRD are currently reviewing board member applications for the new Chapter.

EBRD Managing Director for the SEMED region, Heike Harmgart, said: “We are proud to roll out the AML and AFC programmes in the SEMED region, building on the progress we have achieved in partnership with ACAMS, mitigating illicit finance risks and driving institutional collaboration. Strengthening regulations in the financial sector and developing the right skills are crucial to addressing money laundering and financial crime.”