Safeguarding Africa's Integrity in a Complex World

ACCPA Compliance Conference 2017

3 March 2017

Uhuru signs AML bill to law

The Anti-Money Laundering (AML) Journal of Africa publishes research articles from the perspective of African scholars, academics, and researchers whose voices have been left out in ongoing discussions about AML policy in Africa.

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29 January 2017

Deutsche Bank cuts off NKB

31 January  2017

Pan-African bitcoin start up

21 February 2017

S/Sudan traces millions to Kenya

AML Certification for Africa

Compliance News in Africa

ACCPA Compliance Magazine

AML Journal of Africa

20 February 2017

Alleged Corruption at Stanchart

28 February 2017

FICA bill pass in South Africa

The ACCPA Compliance Magazine is Africa’s first and only publication for compliance professionals. The magazine publishes articles written by compliance professionals working on the ground in Africa and distributed to ACCPA members. 

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Tel: +1(619) 606-1949

​​​Correspondent banking is an arrangement between two banks where one bank (the correspondent bank) provides services to another bank (the respondent bank) permitting access to products and services in foreign markets.  For example, if Bank123 wants its clients to be able to pay a shipping company in New York, then Bank123 must have a correspondent bank in the United States to facilitate such payment. Essentially, a correspondent banking relationship allows a bank to do business in a country where it has no presence. Correspondent banking is an essential component of the global financial system because it allows money to be moved around the world through the banking system. However, African banks stand a greater risk of being eliminated from this international arrangement through a process called de-risking. De-risking is the practice where a correspondent bank (e.g. in Europe or the U.S.) cuts ties with a respondent bank (e.g. in Africa) due to perceived money laundering or terrorist financing risk. A notable example of this occurred in 2013 when Barclays Bank in the U.K. decided to cut ties with Dahabshiil in Somalia. This decision by Barclays compelled the Merchant Bank of California, the only U.S. bank with a correspondent banking relationship in Somalia at the time, to also cut ties with the country. Banks in the U.S. and the U.K. sought de-risking in Somalia in the face of mounting pressure from their regulators who were concerned about terrorist financing in the country. This automatically sealed Somalia off from accessing global correspondent banking relationships in the U.S. and U.K. Since then, de-risking by global banks has spread across Africa reaching virtually every country.

25 January 2017

US to help Angola National Bank 

​​​​The Official Home of Certified Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Professionals in Africa (ACCPA)

ACCPA Blog:  Correspondent Banking in Africa

The ACCPA AML Certification Program provides exceptional world-class professional training in global Anti-Money Laundering (AML) regulations and Anti-Terrorist Financing measures that are specifically tailored to professionals working in Sub-Saharan Africa.