Building your AML, Compliance, and Financial Crime career: Low cost - or Free - courses to boost your knowledge and strengthen your CV/Resume
Ian Messenger
If you are currently working in the field of Financial Crime - or have been exploring entering the profession - you will know how expensive many of the courses and certifications can be. A word of warning: just because a course or certification has a high price tag, it doesn’t mean it will be the “best”.
Through my career in Financial Crime I have seen many good certifications that are worth the cost and several that are worth avoiding!
There are many short courses which are low cost - in some cases Free - that can be useful additions both to your own knowledge but also your resume (under the “short courses” or “professional development” section).
The following 9 courses are either free or minimal cost but don’t be mistaken, these are strong courses that would add value to your skillset and resume! (Links to the courses are included in their titles)
Financial Crime Essentials (Udemy - CAD$39.99 but often on sale) - 17.5 hours of content covering a wide range of financial crime types including AML, Fraud, Bribery and Corruption.
Financial Crime Investigation and Report Writing (Udemy - CAD$24.99 but often on sale) - Almost 7.5 hours of content related to Investigative Best Practices and how to communicate the results through a well-written report. The course also looks at best practices in presenting findings to an audience.
Defining, Describing and Understanding Organized Crime (Udemy - CAD$24.99 but often on sale) - Almost 10.5 hours of content relating to building a foundation in your understanding of the history of Organised Crime, how it works and what it looks like by examining a range of predicate offences. Building your understanding of predicate offences to money laundering will assist your ability to tackle the proceeds of crime.
ACAMS Fighting Modern Slavery and Human Trafficking certificate (ACAMS - Free) - “ACAMS has teamed up with the Liechtenstein Initiative for Finance Against Slavery and Trafficking (FAST Initiative) to develop the first of its kind human trafficking certificate. Developed by industry leaders, this free online training aims to raise awareness about the financial footprints left by modern slavery and human trafficking and provides a framework to help mitigate and remedy these risks.”
ACAMS Ending Illegal Wildlife Trade certificate (ACAMS - Free) - “ACAMS and The World Wide Fund for Nature (WWF), supported by the Basel Institute on Governance, The Royal Foundation of the Duke and Duchess of Cambridge, and United for Wildlife, have developed a free training certificate for individuals seeking to protect their organizations from the threats of illicit finance linked to the Illegal Wildlife Trade (IWT).
Open-source Intelligence (Basel Institute on Governance - Free) - “Open-source intelligence (OSINT) is a central element of most corruption and money laundering investigations. The information and evidence you can gather from publicly available sources can make the difference between a successful investigation and a dead end. Through a simulated investigation, this course will help you learn the basics of how to prepare, conduct and report an OSINT undertaking.
Operational Analysis of Suspicious Transaction Reports (Basel Institute on Governance - Free) - “Analysing suspicious transactions for activities related to money laundering or the financing of terrorism is a core function of Financial Intelligence Units (FIUs). In this course, you will learn to assess the risk of suspicious activity and analyse suspicious transaction reports (STRs).”
Forensic Accounting and Fraud Examination (Coursera - Free/$65) - created by West Virginia University and offered through Coursera. It is structured as a 5 week course but it can be completed at a quicker pace if you wish. In total there are around 7 hours of content. As with many Coursera courses, you have the option of taking the course for free with access to the course material or $65 for the assessed version which provides a certificate. This is one of the best Fraud courses outside of a formal certification such as the CFE! See my review here.
Terrorism and Counterterrorism: Comparing Theory and Practice (Coursera - Free/$65) - created by Leiden University. The course, over 6 weeks/lessons, covers The Essence of Terrorism, Researching Terrorism and Counterterrorism, 5 Assumptions on Terrorism, 5 Assumptions on Counterterrorism, Dealing with Terrorism and the Future, Foreign Fighters and Fighting Groups in Syria.. This is by far the most informative Coursera course I have seen on the subject of Terrorism and would not be out of place as a undergraduate level offering. Even as a Terrorism course instructor myself, I came away from the course having increased my knowledge. See my review here.