ACAMS and Fudan University emphasize need for Anti- Money Laundering training in China
On May 26, the Association of Certified Anti-Money Laundering Specialists (ACAMS) announced that an agreement has been signed an agreement between the ACAMS and Fudan University in Shanghai in order to jointly provide anti-money laundering training in the Mainland China.
This partnership addresses the need for educating and training anti-money laundering specialists in China. It is worth noting that anti-money laundering a relatively new issue for China as laws addressing money laundering were enacted in 2006 there. However, in accordance with an Anti-Money Laundering Report published by the People’s Bank of China, about 190 000 professionals are working in the anti-money laundering field in China’s banking, insurance and securities sectors and most of them are new to the field.
According to Shi Lei, an economics professor at Fudan University, “The cooperation is part of China’s efforts to strengthen anti-money laundering checks and monitor banks, securities and insurance companies to safeguard financial security.”
Ted Weissberg, Group Executive at ACAMS, expressed his excitement about the partnership with such a prestigious university and said that ACAMS’s presence in Asia has been growing very quickly over the past 2 years and it is expected that the new agreement will accelerate that growth.