A Diamond’s Eye View of the World

a multi-faceted look at the middle east, and the middle west

Anti-money-laundering software: from Syria to the world

Posted by adiamondinsunlight on March 28, 2009

This post is for A, who has been on a Syria corruption kick recently.

Yesterday I found this delightfully Alice in Wonderland press release in my Google alert, advertising “anti-money-laundering” training for banking and financial institutions “in any language, for any country”. The software training itself isn’t the Alice in Wonderland part: its the fact that the client highlighted is the country of Syria.

Non-democratic regimes throughout the region, and including Syria, use corruption charges as a way to crack down on disloyal regime figures: they may be as corrupt as they like until the regime tires of them, at which point it becomes a useful political tool. I’m sure that Edcomm’s training is solid and professional, but I suspect that the Anti Money Laundering Commission will use it selectively.

In any case, if you are looking for AML training, happy reading – and if you would like to take the Syria AML course (for which Edcomm will issue a free certificate), click here.

New York, NY, March 26, 2009 — A free tutorial that provides Anti Money Laundering (AML) training for banks and financial institutions located in Syria is now available from Edcomm Banker’s Academy. Focus on Anti Money Laundering for Syria offers a comprehensive overview of the AML laws and regulations that are specific to financial institutions in this Middle Eastern country.

The Government of Syria passed several decrees since 2003 in an attempt to criminalize money laundering and generate an Anti Money Laundering Commission, which was established in 2004. Under Decree 33 (2005), all banks and non-financial institutions are required to file Suspicious Activity Reports (SARs) with the Commission, which serves as the Financial Intelligence Unit (FIU). The Commission has the right to conduct an investigation, relinquish bank secrecy on specific accounts and share information with the police and judicial authorities, and lead the police to carry out a criminal investigation.

Focus on Anti Money Laundering, from Edcomm Banker’s Academy, teaches bank employees about AML laws in their country and familiarizes them with their company’s own policies and procedures. Through this interactive course, students learn everything they need to know to detect and prevent money laundering. Focus on Anti Money Laundering can be customized to meet the needs of every Bank, Credit Union, or Money Services Business (MSB). Each course is regularly updated to include changing laws and policies. Recognizing that money laundering can occur anywhere and everywhere, Edcomm Banker’s Academy is prepared to create a course for any country in need.

For more information about multilingual, multicultural training programs, or to find out how The Edcomm Group Banker’s Academy can customize any training program in any language, for any country, log onto www.bankersacademy.com or call 888-433-2666.

4 Responses to “Anti-money-laundering software: from Syria to the world”

  1. Kheireddine said

    Corruption in Syria is called “fasaad”. What is funny is that it took them 35 years to accuse Abdel Halim Khaddam of corruption…when he turned against the regime.

    • I thought that corruption in general could be called fassad – am I wrong?

      You are so right about Khaddam – and it illustrates my point! It wasn’t that he wasn’t corrupt all those decades – on the contrary. He was, but it wasn’t until Khaddam turned against the regime that his corruption became something to prosecute!

  2. […] Anti-money-laundering software: from Syria to the world […]

  3. Kheireddine said

    Fassad in Lebanon is rather called “chatara”😉

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