top of page

New AML Compliance Certification Program for Fintechs Launched by ACAMS and FINTRAIL

ACAMS has introduced a certification program for Fintech firms that aim to fulfill regulatory guidelines or requirements in an “evolving” market environment. The new Regtech solution from ACAMS has been developed with assistance from specialist consultancy FINTRAIL.

Referred to as the Certified (anti-money laundering) AML Fintech Compliance Associate (CAFCA) program, the initiative aims to provide the appropriate compliance tools to Fintech personnel working in financial crime prevention “at the entry-level.” The solution is designed to help compliance workers who may be remotely onboarding clients or assisting them with scaling their company’s AML processes to “match consumer demand.”

After they’ve enrolled, CAFCA applicants complete eight hours of digital training on governance and regulations, customer due diligence controls, transaction monitoring best practices, investigatory procedures, regulatory reporting and various other topics related to AML compliance for the Fintech sector.

As mentioned in a release:

“The program is tailored to fit the needs of Fintechs operating as prepaid card issuers, Payment Service Providers, neo-banks, Insurtech companies, crowdfunding and peer-to-peer organizations, among other businesses in the sector. The second part of the program entails a certification exam that tests the ability of individuals to apply the knowledge from the training to real-life, contextualized situations.”


Article written by Omar Faridi for Crowdfund Insider

Read the full article here


bottom of page