Financial Crime World

Bahrain Takes a Stand Against Financial Crime: Launch of AML Academy

The Central Bank of Bahrain’s training arm, BIBF, has launched the Anti Money Laundering (AML) Academy to enhance financial crime prevention strategies across the Kingdom.

Enhancing Compliance Efforts

The initiative aims to equip financial institutions with the necessary skills and knowledge to effectively identify, mitigate, and report risks related to money laundering, terrorist financing, and fraud. Regulatory risk and money laundering have emerged as major areas of concern for financial institutions worldwide, with recent high-profile cases such as the FinCEN leaks highlighting the need for proactive measures.

AML Academy Courses

The AML Academy offers a suite of courses covering all aspects of compliance, financial crime, and fraud prevention. The programs are categorized into three main areas:

Anti Money Laundering (AML)

  • Enhance professional knowledge and technical skills to develop a robust reporting system that can promptly detect money laundering activities.
  • Learn how to identify, mitigate, and report risks related to money laundering.

Compliance

  • Understand the importance of compliance in financial institutions and learn how to implement effective policies and procedures.
  • Develop skills to ensure adherence to regulatory requirements and industry standards.

Fraud Prevention

  • Learn about various types of fraud and how to prevent them.
  • Develop strategies to detect and report fraudulent activities.

Top Priority: Combating Financial Crime

The Central Bank of Bahrain views the fight against money laundering and combating the financing of terrorism as a top priority. As a member of the Financial Action Task Force (FATF) through the Gulf Cooperation Council’s full membership, Bahrain is committed to implementing international standards in this area.

Convenient Online Training

The AML Academy’s online training program is now available, aligning with CBB regulations and providing financial institutions with a convenient and accessible platform to upskill their employees. The academy brochure can be downloaded from the BIBF website for more information on the programs and courses offered.

Get Started Today

Don’t miss this opportunity to enhance your knowledge and skills in AML compliance. Register now and take the first step towards becoming an expert in financial crime prevention!