Correspondent
Banking

ACAMS certificates can be used to evidence your knowledge to current and future employers. Earning the certificate demonstrates your ability to identify and mitigate correspondent banking AML risks in your institution.

By completing this certificate, you will also earn four ACAMS credits, which can be used toward earning a banking compliance certification from ACAMS in the future.

Correspondent banking is the process of banks facilitating transfers and transactions on behalf of other banks. Domestic banks use correspondent banks for transactions that originate or are completed in foreign countries, enabling them to serve international clients.

The correspondent banking process can be complex and poses unique money laundering risks which financial institutions need to monitor. The ACAMS Correspondent Banking Certificate will help you understand how correspondent banking processes work, along with the associated risks and controls.

Correspondent banking is vital to the global financial system, providing banks and their customers access to financial services across jurisdictions and facilitating trade, economic growth and financial inclusion. However, the complex and indirect relationships involved in correspondent banking make it inherently more susceptible to money laundering. Anti-money laundering processes can be particularly challenging, with cross-border data sharing and complex transaction structures making effective monitoring more complicated.

The correspondent banking online course takes approximately four hours to complete. The training course is accessed via our learning management system (LMS) and can be completed at your own pace. You have four weeks from the date of purchase to finish the course.

You have four weeks from the date you purchase the certificate to access the study materials and complete the course. After four weeks, your access to the study materials will expire. The exact date your access will expire can be found on our LMS. Please contact us if you need to extend your access to the study materials.

No, there are no prerequisites for the Correspondent Banking Certificate. The course is suitable for those new to the topic and those who wish to build on or refresh their existing knowledge.

If you’re looking for further correspondent banking learning resources, why not take a look at ACAMS’ webinars on the topic:

• Global Standard: How Does the Correspondent Banking Due Diligence Questionnaire (DDQ) Drive Effectiveness?
• Money Laundering and Correspondent Banking – Mitigating Risks Without De-Risking

The ACAMS Correspondent Banking Certificate course is pre-recorded.

ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime (AFC) education to AFC professionals. Our certificate training courses are written by subject matter experts and are recognized globally by leading financial institutions and regulators.