NCI Accredited for DSI AML Register

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Following the training courses from ACAMS and VU, the DSI Accreditation Committee has approved a third course that qualifies for entry into the DSI AML Register: the Leergang Bestrijding Witwassen en Terrorismefinanciering (LBW) from the Nederlands Compliance Instituut (NCI).

AML and CDD professionals who start the LBW course on or after August 1, 2024, and successfully obtain their diploma will meet the requirements for inclusion in the new DSI Anti Money Laundering (AML) Register, provided they are employed by a DSI participant.

Proven expertise as an AML Professional

With the independent DSI AML Register, professionals with solid training have a unique opportunity to demonstrate their expertise. Registration shows that you are provenly skilled, allowing employers and clients to trust that professionals meet high standards of knowledge and integrity.

Already graduated from LBW?

If you already have an LBW diploma, you can be registered as a candidate certified professional in the AML Register by submitting an application to DSI. To achieve full certification, you will need to complete an additional e-learning course, available starting January 1, 2025. You can sign up for this e-learning via the website of the Nederlands Compliance Instituut.

Starting August 1, 2024, this e-learning will be part of the LBW curriculum. Participants who begin from that date will receive their diploma after successfully completing the e-learning in early 2025.

Need more information?

If you have questions or comments about the LBW diploma or the DSI AML Register, visit this link or the NCI website to get in touch directly.

DSI Anti Money Laundering (AML) Register

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In close collaboration with the industry, DSI has decided to launch a new register specifically targeting professionals dedicated to preventing financial crime: the DSI Anti Money Laundering (AML) register. This register provides uniform quality standards for AML professionals actively involved in the fight against financial crimes.

Roles in Financial Crime

Financial institutions such as banks and investment firms play a crucial role in preventing money laundering and financing terrorism. This is commonly referred to as the gatekeeper function.

The number of professionals engaged in combating financial crime has significantly increased in recent years. These individuals work in areas such as Customer Due Diligence (CDD), Know Your Customer (KYC), and Anti Money Laundering (AML). DSI is developing this new register specifically for the AML professionals.

What is a DSI AML Professional?

The DSI AML professional operates within the financial sector and is tasked with preventing their organization’s involvement in money laundering. The professional focuses on the proper application of the Wwft and possesses in-depth knowledge of customer research (KYC and CDD) and transaction monitoring. The DSI AML professional also has the skills to effectively act in their role as a money laundering combatant.

Uniform Quality Standards with an Independent Register
A key consideration for establishing this register is that AML professionals need to demonstrate proven expertise. Regulators are increasingly attentive to this requirement. Currently, various training programs are available in this field, varying in depth and assessment.

Our discussions with DSI-affiliated businesses reveal a need for uniform quality standards for this professional group. These standards should be set and monitored by an independent and expert certifying authority.

DSI believes that such an initiative aligns well with the existing DSI certifications for investment and compliance professionals. Through the new register, DSI aims to ensure a baseline level of expertise and integrity for this professional group. In addition to uniform training requirements for entry into the register, there will also be an obligation for ongoing education. Finally, DSI’s code of conduct and disciplinary procedures will apply.

Current Status

In January, the final terms for the new registry were approved by the DSI Accreditation Committee. Subsequently, these terms were shared with providers of financial crime training programs. The first accreditation request is currently being processed by DSI. The Compliance Advisory Committee and Accreditation Committee will evaluate this request. It is expected that the registry will launch before the summer of 2024.

Contact Information

For inquiries about the new register, feel free to contact Mark van der Lecq (Lead Legal DSI) via our contact form.

ESMA Final objectives updated

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DSI, together with its advisory committees and accreditation committee, has updated the so-called final objectives for the initial examinations of DSI-ESMA registers. Following on from this, we have asked the DSI accredited educational institutions to adjust the initial exams as well. With this, investment professionals entering from 1 January 2023 will take an exam that responds to the most important developments in recent years.

A DSI certified investment professional meets the legal professional competence requirements. This professional has completed the necessary DSI-accredited exams and will complete the Continuing Professional Education Program. The exams meet the legal requirements drawn up by ESMA a few years ago.

On the basis of these legal requirements, DSI, together with its advisory committees and accreditation committee, has established so-called attainment targets. The accredited exams are derived from this. This ensures that legally required knowledge components are part of the exams.

Because these attainment targets were established a few years ago and additional themes have been added to the program in recent years (via the Continuing Professional Education program), DSI found it necessary to update the initial attainment targets. These have since been updated and adopted by the advisory committees and the accreditation committee. Look here for the updated final objectives.

We have asked trainers to update the initial exams on the basis of these new attainment targets. It is expected that these updated exams will be administered from 1 January 2023. Of course, this update has no consequences for certified persons who have already completed the exam and who follow the Continuing Professional Education program. The update is intended to allow investment professionals entering the field to take an exam, including the most important developments from recent years.

Do you have questions about the updated learning outcomes or general questions about the ESMA exams? Please contact our Certification department: certification@dsi.nl.