CERTIFIED GLOBAL SANCTIONS SPECIALIST – CGSS
EIBFS Training for CGSS Examination with ACAMS, USA
Why Earn CGSS?
Certified Global Sanctions Specialist is an ACAMS certification that equips an organization’s workforce with a credential that represents a serious commitment to compliance with sanctions, in a world of increasingly complex laws, regulations, and policies. CGSS is global, allowing multinational institutions to strategically and uniformly apply the same program for all global employees. Become CGSS-certified and demonstrate to regulators a strong commitment to compliance in sanctions.
CGSS enables organizations to tap into the diverse, international global network of ACAMS, the world’s largest membership organization dedicated to enhancing the knowledge and skills of financial crime prevention professionals.
Competencies after completing the program
- Understand the restrictive measures imposed by sanctions, their purpose, and how they are introduced.
- Clear and analytical approach when faced with restrictive measures imposed by sanctions.
- Knowledgeable on organizations that issue and enforce sanctions, and individuals, countries and entities that are subject to sanctions.
- Detailed understanding of the risks of non-compliance.
- Knowledge to embed sanctions compliance into risk assessment and compliance programs, and training.
- Identify common methods that sanctioned targets use to evade sanctions.
- Differentiate between AML risk and sanctions risk.
- Perform sanctions due diligence to ensure that the institution is not conducting business with sanctioned parties
CGSS Examination Blueprint
The CGSS examination consists of five domains. Below you will find the test objectives for each of the domains.
Governance and Enforcement — 25%
1.1 How sanctions are created, changed, and enforced (e.g., global laws and regulations, legal processes, assumptions and errors)
1.2 Key concepts of sanctions (e.g., definitions, UN Security Council, OFAC, EU, UK-HMT, AUSTRAC sanctions; multilateral v. unilateral sanctions; restrictive measures)
1.3 Different types of sanctions (e.g., individuals, countries, goods, vessels, sectoral sanctions, terrorism-related sanctions)
1.4 Geographic scope of sanctions (e.g., the IEEPA, extraterritorial reach, blocking statutes, the effect on trade restrictions, national and autonomous sanctions)
1.5 Beneficial control, ownership, and the 50% rule
1.6 License types and the scope of permitted activities (e.g., authorities for issuing licenses, assumptions and errors related to licenses, license application processes, operational challenges)
1.7 Principles of governance, risk-based approach, and how they apply to sanctions screening (e.g., risk categories, regulator expectations)
- Sanctions Evasion Techniques — 17.5%
2.1 Types of attempts that are made by illicit actors to evade sanctions, including evasion techniques related to payments and transactions
2.2 Trade-related evasion techniques (e.g., how targets try to conceal the end-use of goods or the identity of the end-user, export controls)
2.3 Methods that targets use to hide their identity (e.g., shell companies, LLCs, restructuring, ownership schemes).
III. Sanctions Due Diligence — 20%
3.1 Sanctions due diligence key concepts to effectively mitigate sanctions risks (e.g., approach for assessing sanctions risks, geographic scope, risk assessment formula, transaction-level due diligence)
3.2 How to apply sanctions due diligence to different lines of business (e.g., luxury goods industry, retail banking, commercial banking, insurance)
3.3 Beneficial ownership calculation (e.g., compare the 25% rule for AML to 50% rule for Sanctions, EU guidance on beneficial ownership)
3.4 Key sanctions risk areas, including customers, the nature of their business, products, and jurisdiction (e.g., dual-use goods, differences between the EU and OFAC concerning due diligence and beneficial ownership)
3.5 Financial services and products as they relate to sanctions risks
- Sanctions Screening— 20%
4.1 Sanctions monitoring procedures and important controls (e.g., similarities and differences between AML monitoring and controls and sanctions monitoring and controls, interdiction software)
4.2 Screening key concepts, including Automated Screening Tools (ASTs), interdiction systems, algorithms, and regulatory expectations (e.g., inequalities and exclusion lists, filtering and weighting of potential matches)
4.3 Customer and third-party name screening (e.g., common naming conventions, transliteration, fuzzy logic, Romanization)
4.4 Payment screening process (e.g., common methods for managing AST alerts, relevant fields in a SWIFT payment message)
4.5 Sanctions technology (e.g., screening software, matching algorithms, machine learning, artificial intelligence)
4.6 Sanctions-related software features (e.g., match proximity thresholds, validation)
4.7 Data management and analysis (e.g., list management, predictive analytics, data quality.
- Sanctions Investigations and Asset Freezing — 17.5%
5.1 How to conduct investigations, keep records, and file reports
5.2 Sources of information to use in an investigation (e.g., primary and secondary sources)
5.3 How to freeze assets, notify targets, and make reports (e.g., institutional requirements for
managing frozen assets, identifying a target’s assets
Target Audience
CGSS equips individuals with the necessary skills critical for, and not limited to Sanctions Compliance, Economic Sanctions, Financial Sanctions, Sanctions Screening, AML/CTF, AML Sanctions, Regulatory Compliance, Risk Management, Legal Counsel, Embargo and Compliance Technology.
EIBFS Training & Delivery
EIBFS has a proven track record of high success in CAMS courses for over a decade with a large pool of successful alumni. We have certified and highly experienced expert trainers and are the only training provider in UAE currently where ACAMS has approved the training courses as credit bearing. EIBFS also offers support for the learners with solutions for shortfall in eligibility credits for appearing for exams
Virtual Sessions: 5 sessions required of 3 hours each with 1 Capstone session and a mock exam
Program Investment: AED 7500/ person + VAT, includes cost of training, materials and the mock exam.
Prerequisites: 40 existing Cams Credits, 40 Cams Credits are exempted if you have the ACAMS qualification. For candidates not having the required 40 credits, EIBFS can provide additional support via E-learning on its Insight platform to get the credits, wherever possible.
ENROLLMENT
For further information on course start dates and enrollment please contact certificates@eibfs.com
Bank employees may contact their training department for enrollment.