Eritrea Embarks on Anti-Money Laundering Training Programs
The government of Eritrea has announced plans to implement anti-money laundering (AML) training programs for its financial institutions and law enforcement agencies. The move is part of a broader effort to strengthen the country’s regulatory framework and prevent illicit financial flows.
Overview of AML Training Program
The AML training program will be conducted in collaboration with international experts and will cover key areas such as:
- Identifying and reporting suspicious transactions
- Complying with sanctions regimes
- Recognizing terrorism financing and proliferation financing
The program will target professionals working in the financial sector, including bank officials, money transfer operators, and law enforcement agents. It is expected to equip them with the necessary skills and knowledge to effectively detect and prevent money laundering activities.
Course Details
Duration and Format
The AML training program will consist of a nine-month course that combines online study with live virtual classrooms delivered through interactive technology.
Assessment
The course will be assessed through:
- Three timed end-of-module assessments
- One written assignment
- One case-study based assignment
Qualification
Upon completion of the course, participants will receive an internationally recognized qualification awarded in association with Alliance Manchester Business School, the University of Manchester.
Course Fee
The course fee is set at £4,100 (approximately $5,350 USD) for Eritrean residents and includes 12 months’ membership to the International Compliance Association (ICA).
Discounts
Discounts are available for group bookings.
Who Can Apply?
The AML training program is suitable for professionals working in the financial sector, including:
- Bank officials
- Money transfer operators
- Law enforcement agents
- Risk managers
- Accountants
- Lawyers
Applicants must have a good standard of spoken and written English and either a sound educational background or relevant work experience.
Benefits of Membership
Upon completion of the course, participants will join an international community of over 30,000 ICA members. Benefits include:
- Access to the ICA Learning Hub
- Weekly webinars on industry developments
- Discounts on ICA events and further courses
The fee for ICA membership will be added separately to the participant’s basket when enrolling online.
Frequently Asked Questions
Q: How many intakes are there per year?
A: There are three intakes per year: March, July, and September.
Q: Can I pay for the course in instalments?
A: Yes, if you are self-funding, you can pay for the course in full by credit or debit card or pay in eight interest-free instalments. If your employer is paying for the course, you can select the invoice option when enrolling online.
Q: Do I need to be an Associate member of the ICA?
A: Yes, as a professional awarding body, ICA requires you to be an Associate member while studying for your course (unless you are already a member). This benefits you with access to additional resources, insight, and learning to support your studies.
Q: Is the qualification internationally recognized?
A: Yes, ICA qualifications are internationally recognized as evidence of high levels of competence in regulatory and financial crime compliance. Many employers worldwide specify an ICA Diploma as a pre-requisite for roles.