The Florida International Bankers Association, a Miami-based trade association whose membership represents many international banks from the...

The Florida International Bankers Association, a Miami-based trade association whose membership represents many international banks from the US, Europe, and Latin America, has launched the FIBA Anti Money Laundering Institute. The FIBA Anti Money Laundering Institute focuses on specialized training needed for banks handling higher risk business and international transactions. It has developed four certificate courses, all of which focus on AML compliance using a risk-based approach. One of the first courses introduced was the International Private Banking Certificate in anti money laundering compliance. The course integrates compliance into the sales process. The course is given in three modules, which can be taken over the course of a year or back to back. "Banks are already doing a significant amount of training," said Pat Roth, FIBA executive director. "Our courses are designed to supplement and enrich what the banks are already doing in-house." "Our courses are not designed to teach the basics. If you are doing international banking, you had better already know how to handle AML risk."