Enhanced Competency Framework (ECF) - AML/CFT

The ECF-AML/CFT is targeted at "Relevant Practitioners", including new entrants and existing practitioners, engaged by an AI to perform AML/CFT compliance roles in its Hong Kong operation. Details of the respective roles are classified by a two-level qualification structure (i.e. Core Level and Professional Level).

The competency standards of the ECF-AML/CFT are set at two levels:

1. Core Level – applicable to entry-level staff with less than three years of relevant work experience in AML/CFT compliance; and
2. Professional Level – applicable to staff with three years or above of relevant work experience in AML/CFT compliance.

The Core Level consists of five training areas to equip new entrants and staff in junior AML/CFT roles with the essential fundamentals for performing their AML/CFT duties, and the Professional Level consists of five training areas aims to develop further the knowledge of the more experienced practitioners.

Associate Anti-Money Laundering Professional (AAMLP):
Relevant Practitioners who have completed the Advanced Certificate for ECF-AML/CFT training and passed the corresponding examination are eligible to apply for the certification as AAMLP which is issued by HKIB and recognized by HKMA. (Work experience is not a prerequisite for obtaining the certification)

Certified Anti-Money Laundering Professional (CAMLP):
Relevant Practitioners who have at least 3 years of relevant work experience in AML/CFT, completed the Professional Certificate for ECF-AML/CFT training and passed the corresponding examination are eligible to apply for the certification as CAMLP which is issued by HKIB and recognized by HKMA.

You may download the Certification Guidelines and Application Form for application.

Entry Requirement

The programme is opened to members / non-members of HKIB. Candidates must fulfil the stipulated minimum entry requirements:

• Students of Associate Degree (AD)/Higher Diploma (HD) in any disciplines (QF L4); OR
• Equivalent qualifications or above; OR
• Mature applicants* with 3 years of relevant banking experience with recommendations from employer

* Mature applicants (aged 21 or above) who do not possess the above academic qualifications but with relevant banking experience and recommendation from their employers will be considered on individual merit.

Training Duration and Training Fee

* The 6-hour intensive training will no longer be available starting in 2024. Further details refer to FAQ Question No.3.

^#A digital version of training material (i.e. Study Guide and PPT Slides) will be provided before training commencement. Printed version will only be available at an additional cost of HKD600 (including delivery fee) on request by learners.

^ HKIB student members can enjoy 25% off training fee discount on course provided by HKIB only and 50% off examination fee discount respectively 50% off examination fee discount.

Examination Format and Fee

^ HKIB student members can enjoy 25% off training fee discount on course provided by HKIB only and 50% off examination fee discount respectively 50% off examination fee discount.

Programme Structure

The "ECF- AML/CFT (Professional Level)", offered by HKIB in collaboration with HKU SPACE, consists of three components:

1. Training: 18 hours delivered by HKU SPACE under the "Certificate for Module (Enhanced Competency Framework on Anti-Money Laundering and Counter-Financing of Terrorism Professional Level)" (QR Registration No.: 18/000292/L5)
2. Training: 3 hours (Revision Session) delivered by HKIB
3. Examination: 3 hours administered by HKIB

Entry Requirement (Training delivered by HKU SPACE)

The programme is opened to members / non-members of HKIB. Candidates must fulfil the stipulated minimum entry requirements:

• Advanced Certificate for ECF on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) awarded; OR
• Grandfathered by HKIB

Upon completing the 18-hour training session at HKU SPACE, candidates will receive an invitation email from HKIB to register for the 3-hours Revision Session and examination.

Entry Requirement (Revision Session and Examination delivered by HKIB)

The programme is open to members / non-members of HKIB. Candidates must fulfil the stipulated minimum entry requirements:

• Certificate for Module (Enhanced Competency Framework on Anti-Money Laundering and Counter-Financing of Terrorism Professional Level) awarded by HKU SPACE

Training Duration and Training Fee

* The Study Guide is available for purchase at HKIB office or you may arrange courier service for delivery.

Learners are required to attend both training at HKU SPACE and Revision Session at HKIB.  For schedule and enrolment of the ECF-AML/CFT (Professional Level) Training, please visit:HKU SPACE.

Students will receive an invitation email from HKIB for the Revision Session & examination within 6 - 8 weeks after successfully completing the training session with HKU SPACE.

Examination Format and Fee

^ HKIB student members can enjoy 25% off training fee discount on course provided by HKIB only and 50% off examination fee discount respectively.

Entry Requirement (Bridging Training at HKU SPACE)

The programme is open to members / non-members of HKIB. Candidates must fulfil the stipulated minimum entry requirements:

• Applicants shall hold the Certified Anti-Money Laundering Specialist certification or the International Diploma in AML awarded by the Association of Certified Anti-money Laundering Specialists and the International Compliance Association respectively.

For schedule and enrolment of the bridging course, please visitHKU SPACE.

Programme Structure

The programme can be completed in 2 weeks. The total number of contact hours is 6 for the entire course. The major syllabus as follows:

• Overview of Hong Kong AML/CFT regulatory framework and International AML/CFT regime.
• Application of the risk-based approach.
• Customer due diligence in the cross-boundary context.
• The risk-based approach and AML/CFT risks in specialist areas.
• Trade-based money laundering and tax/fiscal risk.
• Ensuring financial inclusion.
• Key drivers for de-risking.

Applicants can submit the electronic application form to make online enrolment.

Late entries for training will be accepted up to 7 days after the stipulated application deadlines. An additional late entry fee of HK$200 will apply.

Late entries for examinations will be accepted up to 14 days after the stipulated application deadlines. An additional late entry fee of HK$200 will apply.

Relevant Practitioners who are holders of the Certified Anti-Money Laundering Specialist certification or the International Diploma in AML awarded by the Association of Certified Anti-Money Laundering Specialists and the International Compliance Association (ICA) respectively are eligible for seeking exemption for both the Core Level and the Professional Level of the ECF-AML/CFT, subject to successful completion of a bridging training programme. The bridging training programme shall be offered, administered and conducted by HKU School of Professional and Continuing Education (HKU SPACE) and the certification as AAMLP or CAMLP shall be offered and administered by HKIB.

The bridging training programme covers various topics on local regulatory framework, risk-based approach, AML/CFT specialist risks areas and financial inclusion. Relevant Practitioners are required to fully attend the 6-hour training sessions and obtain a pass in the assignment.

Exemption for ECF-AML/CFT (Core Level): Upon completion of the Bridging Course with HKU SPACE, Relevant Practitioners who have less than 3 years of relevant work experience in AML/CFT can apply for AAMLP Certification.

Exemption for ECF-AML/CFT (Professional Level): Upon completion of the Bridging Course with HKU SPACE, Relevant Practitioners who have more than 3 years of relevant work experience in AML/CFT can apply for CAMLP Certification.

For schedule and enrolment of the Bridging Course, please visit HKU SPACE.

Grandfathering arrangement for ECF-AML/CFT (Core Level) ended on 30 April 2017 and the grandfathering application for ECF-AML/CFT (Professional Level) ended on 31 December 2018.

A Relevant Practitioner may be grandfathered on a one-off basis based on his or her years of qualifying work experience upon implementation of the relevant level of qualification. Such work experience need not be continuous. The detailed grandfathering requirements are as follows:

1. Core Level – A Relevant Practitioner may apply for grandfathering if he or she has possessed at least 3 years of work experience in AML/CFT compliance as of 31 December 2016. (The grandfathering period for Core Level ended on 30 April 2017)
2. Professional Level – A Relevant Practitioner may apply to HKIB for grandfathering if he or she has possessed at least 8 years of AML/CFT compliance work experience, of which 3 years is at managerial level or above, as of 31 March 2018.  (The grandfathering period for Professional Level ended on 31 December 2018)

For other individuals performing AML/CFT compliance roles but not working in an AI during the grandfathering period, they may submit their applications to HKIB for grandfathering within three months from the date of joining the AML/CFT compliance function of an AI and becoming Relevant Practitioners. However, they should have met all the applicable grandfathering criteria on or before the applicable dates prescribed above. A one-off grandfathering fee will apply.

The ECF-AML/CFT certifications are subject to annual renewal by HKIB. Certification holders are required to comply with the annual Continuing Professional Development (CPD) requirements and pay an annual certification fee to renew the certification.

The requirement for Core Level qualification and Professional qualification is a minimum of 10/12 hours respectively of verifiable CPD, of which at least 5/6 hours should be on AML/CFT while the remaining CPD hours should be on compliance (including financial crime compliance), risk management, ethics, or legal and regulatory requirements.

Any excess CPD hours accumulated within a particular calendar year cannot be carried forward to the following year.

The CPD requirements will be waived for the first calendar year (ending 31 December) of certification and grandfathering.

For details, please refer to the Overview of HKIB CPD Scheme and HKIB CPD Requirements webpage under HKIB website.

Certified Banker (CB) is a professional banking qualification programme developed and offered by HKIB. This common qualification benchmark is intended to raise the professional competency of banking and financial practitioners in Hong Kong to meet modern demands, while providing a transparent standard with international recognition. “ECF-AML/CFT (Core and Professional Level)” have already been incorporated in CB (Stage I/II) respectively. You may refer to the CB Programme structure to plan for your learning path. Learners who have obtained a pass at the relevant examination can then apply for an exemption for the elective module “ECF-AML/CFT (Core Level)” of the CB (Stage I) programme and the module “ECF-AML/CFT (Professional Level)” of the CB (Stage II) programme.