Money Laundering means the laundering of illegal money that is obtained to show that it is obtained from a legitimate source. As criminal activities are rising, the AML certification in Angola must be arranged. Laundering takes place worldwide as criminal activities are rising day by day. It is the conversion of black money to white money as a whole. Criminal activities take place in money laundering. Thus, it has a closed nexus with organized crimes.
Drug Traffickers, embezzlers, and corrupt politicians are the type of criminals to launder money. Drug traffickers need of good laundering systems as they mostly deal in cash transactions. Hence, the Financial Action Task Force list of countries exempts Angola.
What is the status of FATF Ev
The economy of Angola has overcome as it is mainly driven by the oil sector at large. Excluding oil and gas resources diamonds, hydroelectric potential, and rich agricultural land, Angola is regarded as a very poor country. In this country, a lot of challenges are involved there are poor business sectors, also poor land and property rights.
The corruption is widespread in the economy. This country is merely dependent on the oil sector. Angola is a major exporter of oil. It exports its oil resources to China. The country produces a larger quantity of petroleum than any other country. The economy of Diamond trade is rapidly increasing in Angola. It is regarded as the 3rd largest country to produce diamonds in Africa.
aluation
Financial Action Task Force (FATF) has removed Angola from the list to recognize the strategic deficiencies that are affected by AML/CFT. Angola has shown vital improvement in the AML/CFT regime. They have established a regulatory as well as a legal framework to rule out the strategic deficiencies in AML. Therefore, Angola is no longer under the progress of FATF.
What is Financial Action Task Force
The Financial Action Task Force is regarded as the global money laundering and terrorist financing watchdog. This body is developed to set up the standards with the aim to combat the illegal activities that are taking place in the country. FATF promotes bringing up national legislative and regulatory reforms in these prone areas.
Countries on the grey list do not suffer as severe repercussions as those on the blacklist. Countries turning a blind eye toward the spread of blatant money laundering and terror funding are placed on the blacklist. The FATF has likely observed the beginnings of such activities in grey-listed countries. Placing a country on the grey list serves as a sort of warning for them. If they do not take any action against the spread of such activities, the FATF will most likely move them to the blacklist. The blacklist was formerly known as the “Call for action” list and the Grey List “Other monitored jurisdictions.
Overview of the Economy
The economy of Angola has overcome as it is mainly driven by the oil sector at large. Excluding oil and gas resources diamonds, hydroelectric potential, and rich agricultural land, Angola is regarded as a very poor country. In this country, a lot of challenges are involved there are poor business sectors, also poor land and property rights.
The corruption is widespread in the economy. This country is merely dependent on the oil sector. Angola is a major exporter of oil. It exports its oil resources to China. The country produces a larger quantity of petroleum than any other country. The economy of Diamond trade is rapidly increasing in Angola. It is regarded as the 3rd largest country to produce diamonds in Africa.
Money Laundering Challenge in Angola
Additionally, Latin America regards drug trafficking as a key transit zone. Drug trafficking is the major money laundering challenge in Angola. Angolan police have seized 60 kg of cocaine. Angola is increasingly prized by drug traffickers who use it as their main transit point. The Interpol National Centre Bureau in Angola is a leading agency for taking criminal investigations beyond the national border. Since cocaine is on the high list of the NCB’s daily activity. The transatlantic cocaine trade is taking place on a large scale in Angola. Thus, this is the main money laundering challenge faced by Angola’s citizens. Hence, the corrosive effect of the cocaine trafficking trade is going to rise.
Angola’s borders are porous and are vulnerable to drug trafficking, and smuggling at large. Angola has also introduced a new law named Anti-Money Laundering law to combat money laundering through drug trafficking. Thus, for combating money laundering, one should be able to understand the anti-money laundering measures. Therefore, one shall study and understand the AML/CFT measures. Hence, AML Certification in Angola is required to be studied by every citizen in Angola.
AML Certification in Angola
The Certified Anti-Money Laundering Professional program is one of the best AML certifications in Angola which offers a lot of benefits and flexibility to the international community who is working hard in the AML, compliance domain. The aspirants would get a keen knowledge of the Anti-Money Laundering domain. Earlier this course was initiated to address the provisions related to the Prevention of Money Laundering Act. The AML certification in Angola is required to have certified programs related to AML, compliance domain.
The objective of launching this program is to create awareness among the citizens about the AML measures, a framework that is used in Angola. Hence, by pursuing this program one would gain knowledge of how to combat money laundering, and drug trafficking to a large extent. Hence, Angola Law imposes strict penalties or fines on cases related to drug trafficking like cocaine.
Riskpro Learning has introduced multiple short-term courses related to money laundering:
Certification in Trade-Based Money Laundering- This certification program would give in-depth knowledge of the proceeds of crimes that are laundered through international trade. The global audience can opt for the certification.
Certification in Shell Company Investigations- Certification in Shell Company Investigation is designed as a digital certification program. It is a video learning program that is supported by real-life problem-solving assignments.
Certification in Risk-Based Money Laundering- This program is designed for senior management-level employees of financial institutions. Risk management is the concept that is central to effective AML control.
Riskpro Learning has introduced multiple short-term courses related to money laundering:
- Certification in Trade-Based Money Laundering– This certification program would give the in-depth knowledge of proceeds of crimes that are laundered through international trade. The global audience can opt for the certification.
- Certification in Shell Company Investigations- Certification in Shell Company Investigation is designed as a digital certification program. It is a video learning program that is supported by real-life problem-solving assignments.
- Certification in Risk-Based Money Laundering– This program is designed for the senior management level employees of the financial institutions. Risk management is the concept that is central to effective AML control.
Syllabus of AML Certification in Angola
Following is the syllabus of the Certified Anti-Money Laundering Professional Program:
- International case studies on various banks
- Overview of International Laws
- AML/ CFT regulations laid down by FATF
- Diving deep into Politically Exposed Person
The detailed syllabus is provided in the course brochure. Therefore, after completion of the course, the professionals would get a thorough understanding of the terms associated with financial crimes.
To whom this program is applicable
This program is a video learning-based program. A global audience can opt for the program. This program would be very beneficial for beginners who are developing an interest in the money laundering domain. It is applicable for the aspirants who have decided to choose AML, compliance domain as a future opportunity. Hence, this program applies to the person who has a role to play in anti-money laundering compliance.
Preparing for the exam
The preparation for the exam is very toughest part one has to do. Additionally, for getting the AML certification in Angola, one is required to crack the exam on the first attempt. The CAMP program requires a lot of concentration while studying. It is necessary to prepare hard to crack the exam. It requires a focused mindset with goals to achieve. To clear the Certified Anti-Money Laundering Professional program exam, the aspirants go through the video learning sessions provided by RT Academy. It would help to clear the exam very easily.
Examination Criteria
Regtech Times Academy offers a Certified Anti-Money Laundering Professional program. The online examination takes place. The duration of the exam is 2 hours. Thus, the exam comprises 100 questions. No negative marking criteria are applicable. Thus, the minimum passing mark for clearing the exam is 75%.
Benefits of AML Certification in Angola
This program gives one a lot of benefits. This certification would add value to the aspirant’s resume. By doing this certification, the importance of pursuing different types of AML certification in Angola would rise. The citizens should be encouraged and start adding up different certifications related to AML, and compliance domains. Certification in Anti-Money Laundering aims to meet the rapid growth of the skilled resources in the banking industry. Therefore, the data related to money laundering is very sensitive and it can’t be outsourced.
Cost of AML Certification in Angola
The professionals are very keen to understand and learn about the known facts. They are in search of doing something unique. The cost of global certification plays a major barrier in gaining the certification. Hence, Regtech Times Academy cost-effectively offers courses. Regtech Times Academy offers one of the most popular programs named “Certified Anti-Money Laundering Professional.
Prep AML Certification in Angola
In addition to the Certified AML Professional program, Regtechtimes Academy also offers the ACAMS Prep Course for the aspirants looking to take up the CAMS certification from ACAMS, USA. This course is a set of 6 simulated exams that would help the Algerian aspirants pass their CAMS exams successfully. We offer a very cost-effective model for the CAMS Prep course and accept payments in local currency.
