Compliance Search Features Mandated UAE AML Training Article by Banker’s Academy’s Dr. Linda Eagle
(NewDesignWorld Press Release Center) -- New York, NY, June 04, 2011 -- Compliance Search has recently published an article written by Edcomm Banker’s Academy’s President and Founder, Dr. Linda Eagle on the need for mandated Anti Money Laundering (AML) training programs in United Arab Emirates (UAE) banks. Published on May 20, “Interpreting Central Bank Law: Addressing Mandated AML Training for Banks in the UAE” addresses how UAE banks can best protect themselves and their customers from the potential risk of money laundering by becoming familiar with CBUAE legislature, recognizing the signs of money laundering in the UAE and implementing a certified AML training program.
As money laundering continues to become prominent in the UAE, informal banking that is functioning without training still remains unregulated. Rather than taking an advanced strategic approach to training, banks have focused on tools, such as risk mitigation and risk elimination. As the industry evolves, UAE banks must implement AML training systems to greatly reduce the amount of risk and to help employees understand how such training prevents risk. It is important, therefore, for banks in the UAE to use a variety of risk management practices and tools.
According to Dr. Eagle, it is the responsibility of all banks operating in the UAE to ensure that every employee is properly trained in AML. “AML training must be mandated by bank management in order to manage risk as cases of money laundering continue to rise and pose a threat to banks across the UAE,” said Dr. Eagle.
For more information about programs like this, or to find out how The Edcomm Group Banker’s Academy can customize any training program, log onto www.bankersacademy.com or call +1.212.631.9400.
Compliance Search specializes in the recruitment and placement of compliance professionals and executes nationwide and global executive retained searches, contingency searches, job postings and consulting services for investment banks, broker-dealers, hedge funds, mutual funds, private banks, insurance companies, investment advisors and the full array of financial services firms.
The Edcomm Group Banker’s Academy is a 24-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share - providing bottom-line results. The Edcomm Group Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, online bank training and classroom instruction, multimedia production and online and print based documentation. Edcomm Banker's Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).
The Edcomm Group Banker's Academy (www.bankersacademy.com) is headquartered in New York City with locations and representation throughout the world.
Contact :
Dr. Linda Eagle
Edcomm Banker’s Academy
21 Penn Plaza, Suite 1010
New York, NY 10001, USA
Tel: +212.631.9400
Fax: 212.631.0659
linda.eagle@edcomm.com
http://www.bankersacademy.com
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