The 7 AML & Compliance Initiatives to Follow

Two of the main components of being a successful compliance professional are constantly learning and regularly following trends and news. To be able to detect and prevent financial crime, you need to understand and interpret the regulations, listen to industry experts and analysts, try to put new methodologies in perspective. It’s great to attend webinars, classes, or round tables where you can hear different viewpoints and interpretations of what is about to come. Media monitoring is crucial too. There is an abundance of resources out there, rarely on the same spot.

Since 2020 guests on the Compliance Time podcast mention some of the best initiatives which they worked on to bring to the community exactly what is needed. Here is a summary of the seven top AML and compliance projects which we discovered and which can enhance your knowledge and keep you up-to-date on what is going on. As a side note, there are many other projects existing but these are the ones we had personal experience with.

Learning

1. TCAE

The fantastic Toronto Compliance and AML Events (or TCAE), since the start of the pandemic, has been organizing interactive training and events online, open for people all around the world. The Knowledge series are so interesting that they attract a large number of participants even on Saturdays when most of the people are out of the office. The speakers are subject matter experts and always share great content. TCAE has really proven itself as an amazing platform for networking, and when you attend these webinars, you really get the feeling you are part of an engaged and excited to learn community.

TCAE has also study group initiatives and has partnered with industry leaders in Cryptocurrency and Traditional Compliance, in order to provide the highest level of training and networking opportunities.

Check out their site https://tcae.ca/ or follow them on LinkedIn: https://www.linkedin.com/company/tcae/

Listen to Souzan and TCAE’s story on Compliance Time here.

2. TWELVE program

An interesting learning and mentorship program is Dr. Ian Messenger’s TWELVE program. It is suitable for people based in Canada but also international participants. TWELVE brings together 12 industry thought leaders (“Fellows”) and 12 early years financial crime professionals (“Associates”) for a 12 month mentoring and development program. The program is great for people with little or no experience in financial crime prevention. On top of learning from guest lecturers and presentations, participants have 1:1 coaching, networking events, and roundtable discussions.

Learn more about TWELVE on their website: https://www.twelveprogram.com/

Listen to Dr. Ian Messenger on Compliance Time here.

3. RAW Compliance

One great learning project with a purpose and impact which we discovered at Compliance Time is RAW Compliance. It was founded in 2020 but already has a large following and various events. Its objective is to create a collaborative platform for compliance officers which through experience and knowledge sharing, aims to challenge traditional risk controls and develop new and innovative ways of mitigating risks. On their webpage, you can find past and upcoming webinars. Additionally, you can take part in interactive masterclasses or check the upcoming certifications and diploma programs.

Check out their site https://www.rawcompliance.com/ or follow them on LinkedIn: https://www.linkedin.com/company/raw-compliance/

Listen to Oonagh van den Berg on Compliance Time here.

News, blog, analysis

4. The Laundry

As we mentioned, there is an abundance of news, reports, and new information coming up daily. Sometimes it is hard to sift through all the news and websites which publish information online. This is the time when you can use The Laundry. It is a financial crime news and media aggregator. The creator, Dev Odedra, is working daily on publishing content from various media sources. And there is no limit to the news or sources they use, so they bring the latest and most relevant content, faster, and in the same space.

Check out The Laundy’s website: https://thelaundrynews.com/home/

Listen to Dev and the story of the Laundry on Compliance Time here.

5. The Anti-Human Trafficking Intelligence Initiative (ATII)

One central topic for the financial crime prevention community, and hopefully not only, is anti-human trafficking. Typologies are changing and we must learn each day to make sure these crimes do not happen. One of the best sources to follow is the Anti-Human Trafficking Intelligence Initiative (ATII). ATII is a not-for-profit organization combating global human trafficking by raising awareness, building intelligence, and fostering technology advancements. On their website, you can find amazing resources which include red flags and video materials. And for those who like reading blog posts, ATII’s blog contains great articles on how human trafficking exploits the economy and businesses, dark web activities, and underground banking.

Check out the blog and resources pages: https://followmoneyfightslavery.org/blog/

Listen to Aaron Kahler on Compliance Time here.

6. AML Intelligence

AMLintelligence.com is another source from which you can get news on recent events, but also there are insightful analyses and opinions published. The information on the site is often with Europe in the focus and you can see the latest insights on developments in the European Commission and European Parliament. The information published is useful for the global AML executive community. You can also find interesting events and conferences.

Check out AMLintelligence website: https://www.amlintelligence.com/ and LinkedIn page: https://www.linkedin.com/company/amlintelligence/

Listen to James Treacy on Compliance Time here.

7. Sanctions Top 5

Do you want to impress your boss or peers with knowledge of what is going on in the sanctions space? Then a must-follow is Sanctions Top 5. Published each week, these blog posts are a great summary prepared by Nick Turner on the most interesting developments in the sanctions space. These short reviews are crucial for sanctions professionals whose job is increasingly dynamic and subject to frequent changes. They are easy to understand and at the same time synthesized really well to get the most of the news. Additionally, the posts finish with an analysis and comments section from Nick which is very valuable and shows true expert opinion. You can subscribe for email updates or follow on LinkedIn or Medium.

Meduim: https://nicholaswturner.medium.com/sanctions-top-5-index-8f8098de6753

LinkedIn: https://www.linkedin.com/in/nicholaswturner/detail/recent-activity/posts/

Listen to Nick Turner on Compliance Time (coming soon).