The association shall be a voluntary, member-based non-profit making body, and shall be geared to provide a platform for anti-money laundering practitioners, a link between anti-money laundering practitioners with stakeholders, and enhance anti-money laundering compliance.
Our Aims & Objectives
Strategic Plan 2026
Platform for Practitioners
Link Practitioners & Stakeholders
Enhance AML Compliance
Its our goal to promote the establishment of a Certificate of Proficiency (POC) for MLCOs and AML Compliance Officers.
To challenge local professionals into adopting global industry standards for AML Compliance through benchmarking and case studies.
Anti Money Laundering practice is a new arear of Compliance. We still have a shortage of AML Compliance Practitioners. Its our aspiration to support the growth of the profession while building local professional capacity.
AML Professional qualifications are expensive for example ACAMS (Global AML Gold Standard) Exams, Membership and Tuition costs $2,500 on average. Its important to start saving early and perhaps borrow to top up while making manageable monthly repayments towards a professional qualification.
Anti Money Laundering Stakeholders include FIA, Police, Judiciary, Accountable Person each have expectations from the other. We facilitate dialogue to manage expectations reducing friction during implementation of AML Compliance by practitioners.
The FIA was setup by an Act of Parliament in 2013 and has a mandate to create awareness and regulate Anti Money Laundering. They are mandated to issue Guidelines and Regulations, often times they are misunderstood. By facilitating these sessions Accountable Persons and MLCOs/Compliance Practitioners can have a safe space to learn and appreciate the magnitude of work to be done thereby appreciating their role in the bigger agenda.
A number of Accountable Persons are not registered with the FIA as required by the Anti Money Laundering Act 2013, many don’t know what to do or how to navigate the subject. Our AML Help Desk is designed to provide unbiased answers and FREE support for registration with the FIA.
Anti Money Laundering is a complex subject and the scope keeps on expanding. Keeping abreast with the trends is important for practitioners and what better way than to have Fireside Chats with AML experts across Sanctions and best practice.
Anti Money Laundering Compliance is difficult and practitioners need guidelines to enable them accomplish their obligations. We will sponsor research and provide our work to the FIA for consideration of adoption for the industry practitioners to use in enhancing AML Compliance.
The FIA is mandated to coordinate the National Risk Assessment (NRA) which is a publication detailing the countries AML risk profile. As a body representative of AML Practitioners we will work with the FIA to enhance the depth of the National Risk Assessment.
Anti Money Laundering is a rich subject with a number of emerging threats. Using Surveys and Questionnaires we will build rich text publications for use by the industry and facilitate an AML Think Tank.
AML Technology is an integral part of AML Compliance, especially to manage Sanction Screening and Continuous Monitoring. However, AML Technology is expensive. The trend for Shared services has been proven through the Agency Banking Platform, we intend to benchmark on this to enable all and especially smaller Accountable Persons access AML Technology on a Pay-as-you-go basis.
To enhance anti-money laundering compliance by building a platform for anti-money laundering practitioners, connecting them to stakeholders, and supporting them to enhance anti-money laundering compliance.
Nature of Our Association
The Association shall be a voluntary, member-based non-profit making body, and shall be geared to provide a platform for Anti Money Laundering Practitioners, a link between Anti Money Laundering Practitioners with Stakeholders, and enhance Anti Money Laundering Compliance.