By: PRLog
March 25, 2013 at 11:59 AM EDT
ACFCS issues first-ever financial crime certification covering AML, FATCA, FCPA and more
PR Log - Mar 25, 2013 - The Association of Certified Financial Crime Specialists (ACFCS) today announced it has completed building a professional certification that covers the full spectrum of financial crime internationally, including money laundering, fraud, corruption, tax evasion, compliance and investigation.

"Nothing like this has ever been constructed before, a professional, legally defensible certification examination that reliably assesses the skills and knowledge of diverse financial crime specialists worldwide," said ACFCS president, Charles A. Intriago, a former federal prosecutor, Congressional committee counsel and major law firm partner.

"The world of financial crime and money laundering has changed much in the past few years. The change has coincided with the eruption of major global frauds, the arrival of cybercrime as a major concern and a greatly intensified global assault on public corruption and tax evasion," Intriago added.

‘Convergence’, growing organizational risk drive need for 360 degree credential

"On top of all this is the global trend toward ‘convergence,’ or the unification by financial institutions, other companies and government agencies of distinct units that deal with distinct financial crimes, including money laundering, fraud, corruption, sanctions and the accompanying compliance," ACFCS Editorial Director, Brian Kindle, said.

"ACFCS is the embodiment of convergence," Kindle added.

The CFCS certification exam covers money laundering, global anti-corruption practices, tax evasion, compliance, investigation, international standards and other subjects.

Examination has 145 scenario-based, four-choice questions

The "beta" version of the CFCS examination contains 225 scenario-based, four-choice questions covering twelve broad financial crime fields. Each of the questions on the beta was thoroughly reviewed and vetted by a group of at least six experts. This version of the exam will be taken by a group of 50 – 80 financial crime professionals, known as "beta testers," starting March 26.

After further review and refinement, the regular exam will contain 145 questions of the same variety, and will be available to the world's financial crime professionals in mid-April.

Full details about construction of the certification examination and other information about the certification are found at ACFCS.org/certification.

Persons from 32 countries have already signed for CFCS certification

Anticipation for the new CFCS certification has been great. In the months before the certification was constructed, specialists from 32 countries had signed up to take the exam and earn the CFCS. The countries included Australia, Canada, Cayman Islands, Ecuador, Egypt, England, Lebanon, Mexico, Poland, Singapore, United Arab Emirates, United States and Venezuela.

The ACFCS Annual Conference on May 16-18 at the Westin Diplomat in Hollywood, Florida, will offer a pre-conference live CFCS Exam Preparation Seminar. Full information at financialcrimeconference.com.

(Accredited members of the media may obtain press credentials to cover the conference by contacting Brian Kindle at 786-517-2720 or e-mail bkindle@ACFCS.org)

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