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ACFCS Announces Quarterly Focus on FinCrime Resiliency – Building Strong Programs During Disruption

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QUARTERLY FOCUS TO BRING NEW RESOURCES, COLLABORATION AND TRAINING TO HELP THE COMMUNITY DURING A TIME OF UNPRECEDENTED CHALLENGES

The global pandemic caused by the novel coronavirus has led to historic disruption in business, finance, and daily life. Yet financial crime has hardly slowed down, and the confusion engendered by COVID-19 has been ripe breeding ground for fraudsters, cyberattacks and scammers.

In this tumult, the work of those in financial crime prevention is more important than ever before, even as adapting to this new reality poses unforeseen obstacles. From the strain of entire compliance teams working from home, to the stress of keeping up with new threats, there’s a tremendous amount of change to take on and take in.

Being adaptable and tough – Being resilient, in other words – Is not easy, but it is what’s required of fincrime professionals in the current moment.

That’s why ACFCS has made its Quarterly Focus for Q2 on FinCrime Resiliency. In collaboration with its members, partners and the community as a whole, ACFCS will provide a series of trainings, tools and initiatives to help build resilient programs for compliance, investigations and enforcement.

This means helping you adapt to new criminal trends and typologies in a rapidly changing world, boosting your online training at a time when face-to-face is impossible, and giving you tips and techniques to soldier on when staff and resources are constrained.

A few highlights of the Quarterly Focus are:

  • Increased Online Learning with a Focus on COVID-19 – ACFCS will bring you a packed webinar calendar in the coming weeks, with events honing in on the compliance and investigative impacts of the coronavirus. Beyond webinars, we’re expanding our online content to include video chats with experts, virtual networking events, and much more. View the calendar here.
  • Online Exam Access for the CFCS Credential and Changes to Certification Policies – Starting soon, ACFCS will make the CFCS exam available online for candidates. We’re also changing recertification and exam scheduling deadlines to relieve pressure on anyone affected by the coronavirus. Look for more details in the coming days!
  • CFCS Scholarships to Foster Resilient Programs – This quarter, ACFCS is offering 20 CFCS scholarships, its highest number ever, to individuals who are helping their organizations adapt and stay strong in the fight against financial crime. Learn more about the program below and apply today.
  • Community-Curated Tips and Comprehensive News Coverage – We’ve launched a new FinCrime Resiliency Tips series to gather and share guidance with members – learn more and submit your tips today! You’ll also see intensive coverage and guidance on coronavirus-related issues on our news page.  

Learn more about upcoming initiatives and ways that you can get involved below:

WAYS YOU CAN GET INVOLVED

  • Submit a tip for our FinCrime Resiliency Tips series here. This week, we’re asking you to submit tips on the changing nature of customer due diligence and how you’re responding.
  • Host a webinar or video chat on compliance and coronavirus – We’re seeking subject matter advisors to share their expertise. Contact Brian Kindle, VP of Program Development, at bkindle@acfcs.org.
  • Suggest whitepapers, links, regulatory guidance and more to add to the Resource Center. Contact Brian Monroe at bmonroe@acfcs.org.
  • Be profiled in a member spotlight! Over the next months, ACFCS will be profiling individuals involved in efforts to build resilient fincrime programs in its member spotlights. Interested in being featured? Contact Brian Monroe at bmonroe@acfcs.org to learn more.
  • Contribute an article related to coronavirus and fincrime to the Financial Crime Journal, an online magazine with thousands of readers – Contact Brian Monroe, Director of Content, at bmonroe@acfcs.org for more details.

SCHOLARSHIPS FOR “AGENTS OF RESILIENCY”

In the face of turmoil, fincrime professionals around the world have stepped forward to help their programs navigate uncertainty and adapt to a strange new world. ACFCS wants to recognize and reward the efforts of these individuals through its “Agents of Resiliency” scholarship program.

ACFCS is offering twenty (20) complimentary CFCS certification packages to individuals in financial crime prevention roles who have helped build resilient programs in compliance, investigations and enforcement. The package includes registration for the CFCS exam, all prep materials, and one year of ACFCS membership, all free of charge.

Some examples of building resiliency could include, but aren’t limited to:

  • Adapting your program’s red flags and monitoring rules to capture new behavior and criminal trends during the pandemic
  • Investigating and detecting fraud tied to COVID-19 scams, either in the private sector or law enforcement
  • Building out your organization’s cybersecurity capacity to be ready for the shift to work-from-home
  • Helping your staff stay trained and up-to-date on the latest in fincrime compliance even when the normal working conditions are upended

Anyone is welcome to apply, but please be prepared to submit a short statement explaining how you have helped your organization adapt and stay strong against financial crime amid the changes brought by the pandemic. Preference will be given to those in the public sector (government and law enforcement) and those new to their career, under three years’ experience.

The application period is currently open and will end on Wednesday May 8th. Recipients will be notified on or before Monday, May 11th and announced publicly the following week. Click here for more details and to apply today!

COVID-19 RESOURCE CENTER

A new resource center on the impact of COVID-19 on financial crime prevention will feature everything from regulatory guidance to whitepapers on new criminal typologies, applicable to those at all knowledge levels. We are inviting contributions and suggestions from our member community to build the most comprehensive database possible. The Resource center will launch later this month.

The new Resource Page will serve as a knowledge center specifically focused on the intersection of financial crime and the global pandemic. With your help, it will be updated and expanded over time.

Questions, comments or suggestions? Please contact Brian Svoboda-Kindle, VP of Program Development, at bkindle@acfcs.org or 786-517-2720

See What Certified Financial Crime Specialists Are Saying

"The CFCS tests the skills necessary to fight financial crime. It's comprehensive. Passing it should be considered a mark of high achievement, distinguishing qualified experts in this growing specialty area."

KENNETH E. BARDEN 

(JD, Washington)

"It's a vigorous exam. Anyone passing it should have a great sense of achievement."

DANIEL DWAIN

(CFCS, Official Superior

de Cumplimiento Cidel

Bank & Trust Inc. Nueva York)

"The exam tests one's ability to apply concepts in practical scenarios. Passing it can be a great asset for professionals in the converging disciplines of financial crime."

MORRIS GUY

(CFCS, Royal Band of

Canada, Montreal)

"The Exam is far-reaching. I love that the questions are scenario based. I recommend it to anyone in the financial crime detection and prevention profession."

BECKI LAPORTE

(CFCS, CAMS Lead Compliance

Trainer, FINRA, Member Regulation

Training, Washington, DC)

"This certification comes at a very ripe time. Professionals can no longer get away with having siloed knowledge. Compliance is all-encompassing and enterprise-driven."

KATYA HIROSE
CFCS, CAMS, CFE, CSAR
Director, Global Risk
& Investigation Practice
FTI Consulting, Los Angeles

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