LONDON, UK, Nov. 24, 2015 (GLOBE NEWSWIRE) -- via PRWEB - The Association of Certified Anti-Money Laundering Specialists (ACAMS) announces today the appointment of Rick McDonell as its Executive Director and as a new member of the ACAMS Advisory Board.
McDonell is well known for his distinguished career as the FATF (Financial Action Task Force) Executive Secretary, a post he has held since 2007. Among his many accomplishments at the FATF, was the development of a new, standardized country assessment "methodology." This expanded the focus of assessments beyond the initial implementation of FATF standards to examine their actual effectiveness in terms of supporting a reduction to financial crime levels--a dramatic change, which has enabled the strength of AML regimes to be clearly determined.
Under McDonell's leadership, the FATF Global Network also expanded to nine FATF-Style Regional Bodies (FSRBs), an important accomplishment for ACAMS as the Association has members in over 160 countries, most of those in one of those regions.
In addition, McDonell's many years of direct experience working with the regional bodies has given him a unique global perspective on the AML and financial crime challenges facing ACAMS' members. By appointing McDonell, ACAMS will also be able to draw on this expertise to enrich its international education programmes which are highly regarded for addressing global challenges.
As Executive Secretary, McDonell will be leading ACAMS' efforts to expand government relationships around the world. This will involve the development of new Regulator and Law Enforcement Standing Committees, through which new opportunities for knowledge sharing between members working within the private and public sectors will be created. In addition, these Standing Committees will provide advice and counsel to ACAMS on the various laws and regulations regarding AML/Financial Crime and Sanctions in the 160 jurisdictions that ACAMS serves.
Commenting on McDonell's appointment, Chip Poncy, the former head of the US delegation to FATF says, "Throughout Rick's prestigious career in combating financial crime, he has earned a truly global reputation as a pioneer in the expanding AML/CFT and financial integrity mission. Rick exudes a depth and combination of knowledge, experience, humility, and commitment that is rarely found in any profession, and his dedication to the AML/CFT mission has advanced the interests of financial integrity stakeholders around the world. Rick's affiliation with ACAMS represents a wonderful partnership and ensures that the AML/CFT community will continue to benefit from his ongoing contributions to the important work that lies ahead."
ACAMS Advisory Board Chair, Rick Small adds, "I am excited to have Rick join us at ACAMS. Rick brings a wealth of experience and years of knowledge in setting global standards for both governments and financial institutions in addressing money laundering and the financing of terrorism. Rick's leadership of the Financial Action Task Force, and before that one of the regional FATF bodies, will provide ACAMS members with invaluable insight in understanding the current regulatory environment and establishing appropriate and effective AML controls."
Angela Salter, Head of Europe at ACAMS says, "It's an honor for ACAMS and the AML community that Rick will be bringing his extensive career expertise to our ongoing efforts to ensure that members receive the highest levels of training, content, and strategic advice to stop the flow of illicit funds." Salter adds, "To be truly effective at countering money laundering and financial crime internationally, organizations need to share knowledge and work together with governments to develop policy that will yield the right outcomes. Rick's background will enable ACAMS to meet this goal with better support for the international AML community; we are very excited to be working with him."
"I'm delighted to be joining ACAMS," says McDonell. "In my previous role with FATF, I saw and admired the important global role ACAMS plays in providing a focal point for private and public sector communication, which is an essential element in tackling money laundering and terrorist financing. I'm very much looking forward to helping further this goal through collaboration with members of the Board and the ACAMS team and, in particular, with all those dedicated professionals who are members of ACAMS.
McDonell continues, "I've also been impressed with the Association's global reach and the high quality events and training it delivers throughout the world which support and enhance our shared mission of providing AML and CTF professionals and the industry as a whole with the highest quality information and training. I'm therefore excited to be part of the organization and to continuing with our common goal of stopping the movement of illicit funds."
About the Association of Certified Anti-Money Laundering Specialists ® (ACAMS®)
ACAMS is the largest international membership organization dedicated to enhancing the knowledge and skills of AML and financial crime prevention professionals from a wide range of industries, firms and agencies with extensive resources designed to develop and sharpen the skills required for superior job performance and career advancement. The CAMS certification is the most widely recognized AML certification among compliance professionals worldwide. Visit http://www.acams.org for more information.
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