Thursday, January 14, 2016

STU Tackles Financial Crimes with New Compliance Certification

St. Thomas University (STU) launched the Money Laundering & Financial Crimes (MLFC) Institute, a one-of-a-kind program offering an internationally recognized certification in anti-money laundering, countering the financing of terrorism and the prevention of financial crimes. The 15-week program covers topics such as the smuggling of migrants, human trafficking, cybercrimes, environmental crimes, counterfeited medicines, and illicit trading in firearms. This program provides the necessary foundation to launch a career in the lucrative field of compliance.

“There is currently a shortage of qualified certified anti-money laundering labor in the US and abroad,” said Som Bhattacharya, dean of the Gus Machado School of Business at STU and chairperson of the MLFC Institute. “With our foreign university partners, we are launching the first international academic certification inspired by Financial Action Task Force recommendations. This certification aims at developing individuals able to work for any regulated industry or regulatory agencies.”
According to Michelle Martin, president of the MLFC institute, this initiative will provide hands-on education to students, addressing a weakness often cited by prospective employers.

“The course is offered by experienced teachers and distinguished guest speakers eager to share their experience in the field,” said Martin. “We will transfer practical knowledge to our students ensuring an efficient integration in the marketplace.”

This program is suited for professionals seeking work in compliance departments, as well as senior managers, attorneys, accountants and auditors desiring to improve their understanding of compliance issues. Staff of regulatory agencies, law enforcement and public agencies handling procurement activities such as city managers, department managers and port or airport managers are also targeted by this program.

“We believe building capacity within the public sector is as important as in the private sector given the level of exposure to corruption these organizations face in South Florida,” said Jean Morency, co-founder of the MLFC Institute.

Upon completing the course students will be given a two-year membership to the MLFC Institute with access to job boards, digital manuals and other educational aids. They will also receive a six-month subscription to the screening tool, and discounted rates to professional events and resources.

The certificate course is scheduled to begin Feb. 6, and registrants have the option of attending the courses on campus or online. For more information, please visit the MLFC Institute’s website.

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