DSI Anti Money Laundering (AML) registry

In close cooperation with the industry, DSI has decided to launch a new register specifically aimed at professionals working to prevent financial crime: the DSI Anti Money Laundering (AML) register. This register makes uniform quality standards available to AML professionals active in the fight against financial crime.

Functions in financial crime

Financial companies such as banks and investment firms play and important role in preventing money laundering and terrorist financing. This is also described as the gatekeeper function.

The number of professionals involved in countering financial crime has increased dramatically in recent years. These employees are working in areas such as Customer Due Dilegence (CDD), Know Your Customer (KYC) and Anti Money Laundering (AML). Especially for this last group, DSI is developing this new register.

What is a DSI AML Professional?

The DSI AML professional works within the financial sector and has the core task of preventing his organization’s involvement in money laundering. The professional has a focus on proper and appropriate application of the Wwft and has in-depth knowledge of customer due diligence (KYC and CDD) and transaction monitoring. Moreover, the DSI AML professional has the skills to act effectively in his anti-money laundering role.

Uniform quality requirements with an independent registry

An important consideration for the creation of a registry is that employees engaged in AML should be demonstrably competent. Supervisors are paying increasing attention to this. Currently, various training courses are offered in this field. These courses vary in depth and testing.

From our discussions with DSI member firms, there is a need to establish uniform quality requirements for this profession. These quality requirements should be set and monitored by an independent and expert certifying body.

DSI believes that such an initiative fits well with the already existing DSI certifications for investment and compliance professionals. Through the new register, DSI aims to ensure a basic level of professional competence and integrity for this professional group. In addition to uniform educational requirements to join the register, there will also be an obligation to take continuing education courses. Finally, DSI’s rules of conduct and disciplinary law also apply.

Four courses are accredited

Four courses for AML professionals have now been accredited by the DSI Accreditation Commission. Successful completion of one of these trainings is mandatory in order to be certified for the DSI AML Register. These courses are VU Amsterdam, ACAMS, Nederlands Compliance Instituut and SoSecure.

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