Manulife (Cambodia) PLC has once again proven its credibility when its compliance manager Thirith Vireak successfully bagged the widely-recognised Certified Anti-Money Laundering Specialist (CAMS) credential recently.
The credential is only awarded to professionals who successfully completed a rigorous examination which delves deep into the topics of money laundering, terrorist financing methods, the best deterrence to this and other financial crimes, worldwide key legislation, global Anti-Money Laundering (AML) standards and defenses against aforementioned practices.
Upon examination, the Association of Certified Anti-Money Laundering Specialists (ACAMS) will then award those that demonstrate high aptitude and expertise in the detection and enforcement of AML.
Thirith, who was over the moon over the esteemed recognition, said it now reflects three things about him: specialised AML knowledge, career development and networking opportunities within the field.
“Understanding the international AML/CTF standards can help provide clear advice on how our company manages the adherence to AML/CTF laws and regulations and avoid the potential risks of unchecked ML/FT that financial institutions may face including reputational risk, operational risk, legal risk, and concentration risk.
“Given that ML/TF risk is dynamic, you need to attend more advanced ongoing trainings and conferences to ensure that you stay abreast of regulatory updates and other emerging trends. This cutting-edge education provided by CAMS makes my daily work more effective.
“I encourage all legal and compliance practitioners to take part in CAMS,” he told Khmer Times in a written reply.
In a statement, President and Managing Director of Timothy D. McClinton of ACAMS explained the stature of the award and how it sets a high precedence for Manulife (Cambodia) PLC.
“Earning the CAMS credential places the successful candidate in an elite group of Anti-Money Laundering (AML) professionals and assures employers in the private and public sectors that they are working with someone with the essential knowledge and background in this crucial and challenging field,” he reportedly said.
Founded in 2001, ACAMS is the largest international membership organisation dedicated to enhancing the knowledge and expertise of AML, Counter-Terrorism Financing (CTF) and financial crime detection and prevention professionals.
With the mission to provide a global platform for leading professionals to further develop their career in the AML field, ACAMS also provides other services such as educating, informing, and inspiring its members to protect their institutions against the threats of various financial crimes.
It also helps provide the necessary tools to advance their skills and keep the AML professional ahead of those that engage in these criminal activities. More information can be obtained at www.acams.org.
Thirith, who has been with Manulife Cambodia for over three years, currently serves as the contact point for all matters related to AML/CTF, which include developing and monitoring AML/CTF compliance policies and procedures, providing AML/CTF training awareness to all employees and sales force, and managing suspicious activity detection and reporting
The master’s degree holder from Transnational Law and Business University (TLBU) in Seoul, South Korea is also responsible for the development and implementation of other Manulife Cambodia’s compliance programmes including fraud investigation, anti-corruption and bribery and providing legal document reviews.