STB Systems Professional Awarded Association of Certified Anti Money Laundering Professionals (CAMS) Certification

Eduardo Azevedo of STB Systems, based in New York, is among the select group to pass the rigorous Association of Certified Anti-Money Laundering Specialists certification examination. He has now earned the right to use the prestigious designation, CAMS, after his name.

New York (PRWEB) September 19, 2004 -- The CAMS credential is awarded based upon passage of an examination that provides an objective measure of an individuals broad-based knowledge on the challenging topic of international anti-money laundering. The certification program is administered by the Association of Certified Anti-Money Laundering Specialists, the preeminent international organization for Anti-Money Laundering (AML) professionals, with 1,900 members in more than 73 countries.

This designation will enhance the careers of those that hold it and give confidence to their employers and colleagues that they meet minimum standards of competence in the AML field.

The passage of the USA Patriot Act, after the terrorist attacks of September 11, 2001, placed greater emphasis on AML issues. Stringent requirements were placed on institutions to increase their efforts at customer identification and verification in an effort to detect terrorist groups. This increased scrutiny of potential laundering, reinforces the importance of the need for certified professionals who protect institutions from potentially devastating laundering crimes.

The 100-question certification exam, first administered in Miami Beach, in March 2003, was assembled over a nine-month period by a team of 30 leading anti-money laundering professionals convened by ACAMS. An independent firm of psychometricians, Kansas-based Applied Measurement Professionals Inc., then reviewed their work to ensure it was fair and professionally sound. To accommodate ACAMS international membership, as of September 2003, the examination is administered in both English and Spanish.

The exam covers money laundering methods and the risks each poses to legitimate businesses; how to develop effective anti-money laundering defenses; methods of investigating laundering; and the international anti-laundering requirements that companies are expected to adhere to, such as the 40 Recommendations developed by the Paris-based Financial Action Task Force, the intergovernmental organization that leads the worldwide fight against laundering. Indeed, FATF immediate past president Clarie Lo of Hong Kong, who led the organizations post-9/11 moves to target terrorist financing, recently joined the ACAMS advisory board.

www.ACAMS.org

Contact:
STB Systems
Eduardo Azevedo
www.stbsystems.com
info@stbsystems.com
+1-212-682-4930
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