FAQ

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1. When were SFCCA courses launched?

• Dual certification courses in training partnership with CISI UK were officially launched in April 2024. These courses are being actively promoted in Singapore from 17 Sept 2024 after receiving access to SFC-UTAP grants for our eligible Singaporean Learners.

  • This is after extensive SFCCA product development and a soft launch outside Singapore in Pakistan.

  • Our soft launch offered scholarships to solicit Learner feedback from US/UK AML/CFT graduates.

• Our risk-focused training is currently marketed in Singapore, Hong Kong, Malaysia, Indonesia, Philippines, China, India, Pakistan, Bangladesh, Mauritius, and Qatar

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2. Are SFCCA courses eligible for Singapore government/NTUC grants?

• With effect from 17 Sept 2024:

  • All SFCCA Courses are eligible for Singapore government SFC Credit Claim, as well as NTUC UTAP Reimbursement up to 31 March 2025/ as renewed.

• SFC Credit: Singapore Citizens who are 25 years old and above will receive an opening SFC of SGD 500 while those who are 40 years old and above will receive their SGD 4,000 SkillsFuture Credit (Mid-Career). Also see. 

• UTAP Balance: NTUC Membership is open to persons above 16 years of age with valid NRIC/FIN number, with exclusions. UTAP reimbursement is fixed at 50% of the course fees paid out-of-pocket, capped at SGD 250 or SGD 500 per calendar year (depending on member's eligibility).

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3. What's SFCCA's 'Elevator Pitch'?

1. Our courses are now eligible for government grants.

2. They are ideal for those seeking to switch roles or to acquire a more specialised understanding or who need the skills to work in Singapore. Join us if you want to challenge yourself, not for a piece of paper!

3. We cost less because we don't have huge offices with many staff in the CBD. We are a lean online technology driven firm relying on a SME (Dr. Rohan Bedi). Our Learner feedback attests to the quality which they say is better than US courses, and on par with the UK ones. Our processes are also kept simple to reduce costs to our Learners:

• We talk to you after you self-check eligibility and pay our fees to enroll (other than the Fellow which needs our prior acceptance).

• Invoices are provided on request only. Per IRAS "A tax invoice must be issued when your customer is GST registered." Our accountant has no objection to this process.

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4.   What institutional arrangements has SFCCA entered into?

• CISI UK is our partner for a dual certification programme. Learners on our Associate/Professional course must complete one of CISI’s AML/CFT regulatory modules - see CISI webpage.

• Completion of eLearning courses from the US FINRA (finra.org) (Financial Industry Regulatory Authority) on ethics and conflicts are a prerequisite for our Fellow Certificate, as per our agreement with them.

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5. Why SFCCA certificates and not others?

1. Significantly lower costs for equivalent courses by US and UK associations especially as IBF funding levels are reduced.

2. Originally developed as a shorter 4+1hour 2019 course under Euromoney Learning (no longer offered) accredited then under IBF-STS scheme (accreditation does not move with change of IP ownership).

3. Singapore (and Hong Kong) is consistently ranked in the top regulatory regimes and its requirements and guidance are clearer & more risk-focussed than others

4. Written from a practical hands-on perspective by a known FCC expert trained at consulting firms (PwC) and prime banks (BAML, JPMC etc.) in Singapore

5. Per Learner feedback, our courses have many more Case Studies and are more relevant & focussed in content, retaining depth where needed.

6. Developed originally for Hong Kong and later converted to a Singapore course i.e., strong on both centres albeit focused on Singapore regulatory compliance.

7. Content is focussed on risks, regulations and best practices relevant for Singapore & Hong Kong i.e., regional content and context.

8. FATF Recommendations apply. Skills are exportable across centres in Asia, Middle East and Africa (US, UK & Australia have specific regimes).

9. Other courses are mostly distance learning, ours has pre-recorded HD videos with sound normalisations, delivered via a CDN (via Canvas LMS), and online AI-based auto-proctored exam. i.e., easier to study 

10. Unlike other courses, ours has ongoing 1:1 coaching by e-mail and online VC

11. Unlike other courses, we offer 1:1 feedback on incorrect answers in the final examination

12. There is lifetime access to the training videos and course updates.

13. Ongoing awareness building of news and analysis via the SFCCA LinkedIn Group

14. For Corporate Training, flexibility to offer blended eLearning with Live Q&A in a classroom/live format; as well as an optional classroom/live training module that picks key themes and offers more worked examples.

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6. Are SFCCA’s courses IBF-STS accredited currently?

• IBF accreditation has requirements for well supported operations in Singapore which translate to huge cost lines to both get and maintain the accreditation every 2 years. We are in the low-cost high quality space. We will consider the need for this in the future, if at all.

• SFCCA’s initial version for 4+1hrs was developed under the Euromoney Learning umbrella and was accredited under the IBF-STS scheme in 2019. This is no longer in place as our IP has moved under SFCCA.

• Our current Professional Certificate course is significantly better (17hrs of videos and 25hrs of learning overall) than the initial version and learner feedback is also clear evidence. The accredited version had a 30 question examination, we currently have a 100 question Professional examination that has been described as both "tough and conceptual" and "pretty intense exam" per feedback.

• A Learner does our courses for the skills that they acquire and the Managing Director Dr. Rohan Bedi’s CV at BAML & JPMC in regional head roles, as author of a PwC book on AML, as co-author of eLearning used by AUSTRAC for years, his associations with NUS and NTU, his role on the ICA International Board of Advisors for six years; and of course learner feedback… all of these should give a Learner the comfort they seek in the quality of the offering.

• Most of our Learners are already qualified with AML/CFT certifications from the US/UK. They join SFCCA to acquire specialist skills in Private Banking & Securities FCC. They may want to switch roles or add depth to their existing training. Or seek the skills to work in Singapore. It is a validation of our model. You may regard our course as a "specialist top-up".

• Our institutional arrangements highlighted above (see 2.) should also give Learners comfort with our course offering.

• In any case our courses are now eligible for SFC-UTAP grants for eligible Singaporeans.

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7. Can I see such large video files on a poor internet connection?

• We use a Video On Demand (VOD) service of an Enterprise grade CDN.

• The Video is never streamed as a single object. It is always streamed in small chunks delivered gradually with time.

• Thus whether it is a big file or a small file, it doesn't make a difference.

• Our audio has also been "sound normalised" and sounds especially clear on external speakers (recommended).

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8. Does SFCCA have test centres in my city?

• The exam is auto-proctored using AI… you take it online from the comfort of your bedroom.

• Proctored examination rules and requirements apply: Click for details

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9. Does SFCCA have a designation for use after an individual’s name?

• On completion of the Professional Certificate usage of the designation "PMSFCCA" is allowed as long as you are a Professional Member. 

• We also have a Fellow and Senior Fellow designation as "FSFCCA" and "Senior FSFCCA". 

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10. What is the validity of the Professional/Fellow Certificate course?

• The certificate does not expire albeit usage of the designations implies membership, which means you are committed to ongoing learning i.e., CPD requirements apply: Click for details

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11. Can the course fee be paid in instalments?

• Yes course fee can be paid in instalments, usually 3: Click for details

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12. Do you run conferences and seminars for members?

• Not for now but we would love to once we have achieved a greater scale of operations.

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13. Will SFCCA help me get a job in Singapore or to switch jobs?

• We don't do job placements. We offer you the skills to succeed in a FCC role; getting a job in Singapore also depends on your CV, opportunities, the interview, and immigration policy.

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