What is strategy and in the money laundering war, where does strategy fit in? In business and in war, there is a sequence within which strategy can be found. Strategy is the method by which parties seek to achieve their objectives. Beyond strategy tactics are used to implement strategies. A change of tactics will seldom change a strategy, whereas a change of strategy will always change tactics. Strategy is central to an operation and any changes will impact everything. Absent to a strategy there can be chaos, confusion, no direction and undoubtedly poor outcomes. Sun Tzu wrote of ‘Attack by stratagem’, thus the focus of his wisdom was/is the strategy of those attacking, rather than defending. The best leaders do not actually fight, rather they outthink, out manoeuvre and set to outnumber enemies. Such leaders secure victories without destroying enemy armies or towns. Whilst there are opposing parties, one side, the attackers are not seeking to destroy or takeover the opposition. Nonetheless there is constant attack, which requires constant vigilance and a strategy to counter, deter, detect and defeat such attacks. In the world of money laundering, launderers seek to remain hidden, their victories do not incorporate destruction of banks or firms, no they seek to remain unidentified, unknown and all being well their enemies never detect them. The strategy of the anti-money laundering (AML) leaders will likely be to remain compliant with applicable laws and regulations. Of course, it is not possible to stop all money laundering. This changes when laundering the proceeds of crime has a direct impact upon a bank’s/firm’s profit and loss (P&L) accounts, as will be the case in the U.K., post 7 October 2024. Then, it will be necessary to apply a strategy which does seeks to stop all instances of laundering the proceeds of bank fraud. When Tzu wrote the Art of War, there were castles, walls, outer walls, inner walls and look out towers, each presenting a line of defence. The battles were physical, enemies could be seen and defensive strategies included placing obstacles in the enemy’s path and choosing high grounds, hills and mountains to defend from. Their objectives were to keep enemies out of their castles and forts, towns and villages. The aggressors would seek to identify weaknesses and the places of least resistance, or they would mount a concerted attack upon a single point of resistance, aiming to weaken or destroy it and thereby breach the enemy’s defences. Some used stealth methods, such as the Trojan Horse. In 2024, criminals constantly attack information technology systems, because this is where data is stored and data is a valuable commodity. The defensive strategy is constantly under review, as are the strategies applied by the criminals. In the event you know or perceive you know what your enemy will do, where and how they will attack, you have a better chance of countering it... #FollowTheMoney with Martin Woods

Become a CERTIFIED FATCA & CRS SPECIALIST with GCI ---------------------------------------------------------- Our expert trainer Leah Marie Lombard will be delivering these sessions over 14 hours commencing 1 October. Don't miss out on the opportunity to learn from a seasoned professional who has years of experience working in the industry overseeing FATCA / CRS classifications and implementing operational processes. The cost of this instructor-led program is USD 815, and includes: - 8*2 hour virtual sessions - One-year GCI membership - Access to the candidate portal where you can download the program study guide, undertake the practice questions, and Schedule your online proctored exam. - An E-Certificate and verifiable digital badge when you pass the assessment - We also offer one exam retake for free. Head to the website for all the details and to register your place - https://bit.ly/3Xtwmai #FCS #FATCA #GCIPrograms #BankingCompliance #ComplianceTraining #ProfessionalDevelopment #FinancialCrimeEducation

Become a CERTIFIED FATCA & CRS SPECIALIST with GCI ---------------------------------------------------------- Our expert trainer Leah Lombard will be delivering these sessions over 14 hours commencing 1 October. Don't miss out on the opportunity to learn from a seasoned professional who has years of experience working in the industry overseeing FATCA / CRS classifications and implementing operational processes. The cost of this instructor-led program is USD 815, and includes: - 8*2 hour virtual sessions - One-year GCI membership - Access to the candidate portal where you can download the program study guide, undertake the practice questions, and Schedule your online proctored exam. - An E-Certificate and verifiable digital badge when you pass the assessment - We also offer one exam retake for free. Head to the website for all the details and to register your place - https://bit.ly/3Xtwmai #FCS #FATCA #GCIPrograms #BankingCompliance #ComplianceTraining #ProfessionalDevelopment #FinancialCrimeEducation

🆓 Join Us on 1 October for this FREE Webinar ! In today’s rapidly evolving global landscape, understanding compliance and risk management is more crucial than ever for organisations aiming to thrive. We invite you to join us for an enlightening webinar where we will dive into the essentials of navigating regulatory risks in global businesses. Date: 1 October Time: 10 am London Where: Online Our esteemed guest speakers Nicola Johnston MBA LLM , Iain Armstrong , Alia M. and Holger Pauco-Dirscherl, CAMS-RM/Audit/FCI, CGSS, CFE, CCM industry experts in compliance and risk management, will share their insights on: ✅ Identifying Regulatory Risks: Learn how to pinpoint the specific risks your organisation faces in different markets. ✅ Controlling Risks: Discover strategies to implement effective controls that mitigate these risks effectively. ✅ Assessing Risks: Understand how to evaluate and assess the impact of regulatory risks on your business operations. This is a fantastic opportunity for professionals at all levels to enhance their knowledge and skills in compliance and risk management. Whether you are part of a multinational corporation or a small business, the insights shared in this session will be invaluable. 🔗 Reserve your spot today! Head to the website - https://bit.ly/3XAjwaj Don’t miss out on the chance to empower your organisation with the tools and knowledge to manage compliance effectively in an increasingly complex regulatory environment. We look forward to seeing you online!

It's great to have أكاديمية الحوكمة | Governance Academy join the GCI Partner Network. We look forward to working closely with the team as they deliver our accredited programs in the field of banking compliance and anti-money laundering in line with the Saudi labor market. Reach out to us to learn more about how you can study with GCI... Amie Hornegold, Mohannad moheisen, Wesam Al Qudah, Yazid Nashashibi #TrainingPartners #BankingCompliance #FinancialCrimeComplianceTraining #Education #Careers #Compliance

Globally all countries need to take ownership of the fight against financial crime… Until we do, criminals will continue to exploit the gaps!

Sharing her views at the 2024 Alliance for Financial Inclusion (AFI) Global Policy Forum (GPF). FATF President Elisa de Anda Madrazo

Highlighting the Human Element in Financial Crime Prevention While technology plays a crucial role in detecting and preventing financial crime, the human element remains irreplaceable. Critical thinking, ethical judgment, and intuition are qualities that machines cannot replicate. It's the people behind the tools who make the difference. At the heart of effective compliance programs is a team of dedicated professionals who can interpret data, understand human behavior, and anticipate criminal tactics. Investing in training and development for these teams is not just beneficial; it's essential. We invite you to join our discussion series on enhancing human skills in compliance roles. Please comment on how to cultivate these skills and integrate them with technological tools for more effective financial crime prevention strategies. Let's celebrate and empower the human factor in our fight against financial crime. #FinancialCrimePrevention #ComplianceTraining #HumanFactor"

Thanks Neil Jeans GAICD for sharing … Long-awaited AML Reforms bill from Australia’s Governor General…. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 introduces significant, long overdue reforms to Australia’s AML/CTF regime. Read more via the link here …