Find out about the AML & Financial Crime Specialisation and how the Australian Compliance Institute can help professionals and organisations build a full compliance management system.

Why specialise in AML and Financial Crime

Globally we have seen a growing need for compliance efforts in specialised areas, including AML and financial crime. These specialisation streams will only continue to grow as organisations mature and appreciate the strategic benefits of an end-to-end compliance management system to support the obligations they must follow.

Applying the same professional practice to dedicated topics of compliance and organisational risk provides immense benefits to organisations, particularly those accountable for these critical areas of compliance risk.

Some of these growing areas include:

• ESG
• Privacy
• Cyber and data protection
• Money laundering
• Financial crime

Growing need for compliance professionals with AML specialisation

Of all these emerging areas, anti-money laundering has long been a dedicated focus for many organisations captured under the current legislation. The need for compliance professionals with AML specialisation will only continue as the regime widens its application from 2024 onwards.

To support our members, the Australian Compliance Institute was requested by members to extend its scope to include anti-money laundering and financial crime courses to enable our members to access the same quality educational offerings and qualifications with the Australian Compliance Institute as the trusted education provider. The courses we can deliver provide you with options across the entire spectrum of your career.

Why study with the Australian Compliance Institute?

• Australian-specific content and references.
• Detailed and practical workshop activities throughout the course.
• Consideration of financial crime compliance and the interactions with AML.
• High-quality knowledge training and a recognised Australian qualification on the Australian Qualification Framework.
• AML compliance specialists deliver our courses with their own respected and long-term experience in this specialisation.

AML training to advance your career journey

The AML courses the Australian Compliance Institute has on scope are delivered on several levels to allow you to go straight to the option that suits you and provide the training to advance your career journey.

Once you have undertaken your training, we can provide ongoing professional support through our discussion groups, news updates, specialised webinars and roundtables, and our annual AML and Financial Crime Congress, which will keep your knowledge of the regulatory expectations and best practices up to date.

What is anti-money laundering and financial crime?

Money laundering is where funds likely gained through illegal activities are processed through financial channels to make them ‘look’ plausibly legal in origin.

Financial Crime is a category of complex illegal activities that may also be external to the organisation but can implicate the entity in the activity. For example, modern slavery, sanctions, tax avoidance and fraud.

One of the reasons that anti-money laundering and financial crime is a specialised area is that, compared to some other compliance risks, your activities in this role are often about protecting your organisation from being unintentionally involved in illegal activities by external parties.

Quite often, an organisation’s compliance risk efforts might put financial crime and AML responsibilities within the same team of professionals because there can be common methodologies for monitoring or other compliance activities, including reporting to regulators or related third parties involved in these activities.