Financial Crime World

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Banks in Macao Enhance Compliance with New Training Program

The banking sector in Macao is set to become more compliant with international standards as the Certified Banker (CB) program, Stage I, has been introduced. The training program aims to equip bank employees with essential knowledge and skills to tackle anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

Comprehensive Training Outline

The CB Macao program consists of five modules, each covering a crucial aspect of banking operations in Macao:

Module 1: ECF on AML/CFT Macao (Core Level)

  • 24 tuition hours
  • 20 credits

Module 2: Fundamentals of Accounting (Macao)

  • 12 tuition hours
  • 10 credits

Module 3: Risk Management (Macao)

  • 12 tuition hours
  • 10 credits

Module 4: Professional Ethics and Compliance (Macao)

  • 12 tuition hours
  • 10 credits

Module 5: Future Banking and ESG

  • 12 tuition hours
  • 10 credits

Examination Structure

To ensure that participants grasp the material effectively, the program includes a series of multiple-choice exams. Each exam has a passing mark of 70% and a duration of 1.5 to 2.5 hours, depending on the module.

Examination Details

  • Multiple-choice format
  • Passing mark: 70%
  • Duration: 1.5 to 2.5 hours per exam

A Boost for Compliance

By completing the CB Macao program, bank employees will be better equipped to navigate the complexities of AML/CFT regulations and ensure compliance with international standards. This, in turn, will enhance the reputation of banks operating in Macao and contribute to a safer and more stable financial system.