4 causes to begin a profession in monetary crime prevention

Need to assist maintain the world’s cash secure? It is best to learn this… 

Latest excessive profile information leaks such because the FinCEN papers in 2020 and the Pandora Papers in 2021, alongside the Russian invasion of Ukraine in 2022, have put a critical highlight on the dimensions of monetary crime. Within the UK, compliance is now extra essential than ever, and companies are looking out for professionals to fill their roles. 

We spoke to London Governance & Compliance Academy (LGCA), a multi-accredited UK studying supplier specialising in governance, danger, and compliance, to search out out why monetary crime prevention is a superb profession selection proper now.


What’s monetary crime? 

Monetary crime (often known as financial crime) refers to unlawful actions which are carried out in an effort to fraudulently get hold of monetary acquire. 

The commonest kinds of monetary crime within the UK are: 

  • Fraud and corruption
  • Cash laundering 
  • Terrorist financing 
  • Cyber crime
  • Tax evasion

Monetary crime could be dedicated by people, legal organisations, or a bunch of individuals, and it prices the worldwide financial system trillions of {dollars} annually. 

Listed below are simply 4 causes to contemplate a profession in monetary crime prevention:


1. You might assist save billions of kilos yearly

Whereas the precise worth of monetary crime within the UK is unknown, the UK parliament estimates that it may very well be costing firms, governments and people tens or a whole lot of billions of kilos per yr. 

And on a worldwide scale? An estimated $2.4 trillion in proceeds from unlawful actions shall be laundered by the world’s monetary markets and banking methods annually, in accordance with the World Financial Discussion board.

The COVID-19 pandemic hasn’t helped both – with many companies being pressured to give attention to survival above monetary crime prevention, and the acceleration of distant working opening the doorways to new kinds of dangers.  

In different phrases, in case you pursue a profession in monetary crime prevention, you’ll actually have your work minimize out for you. 


2. Demand for professionals is at an all-time excessive

Regulatory adjustments, akin to Normal Information Safety Regulation (GDPR) and Brexit, has led to the creation of extra jobs that are centred across the mitigation of cybercrime and the safety of confidential info. 

What’s extra, with new expertise comes new dangers. The rise of cashless transactions, cell transactions, and biometrics could also be making our lives simpler, however they’re additionally bringing new challenges to the monetary sector. 

To make sure organisations are all the time one step forward, they’re starting to undertake progressive new applied sciences, akin to synthetic intelligence, to detect crime in real-time. 

However whereas employers are demonstrating an elevated give attention to monetary crime prevention, there aren’t sufficient individuals with the precise expertise and {qualifications} to fill their roles. Consequently, there’s a rising expertise hole within the monetary crime sector. And that’s the place you are available…


3. Your profession prospects shall be huge (and profitable)

There are a selection of profession alternatives within the area of monetary crime prevention and compliance, with junior compliance assistants standing to earn £40,000-50,000 per yr, and skilled professionals having the potential to earn greater than £100,000.

As a result of you already know what they are saying, combating monetary crime is one thing that truly does pay.  

Whereas most compliance roles are discovered within the monetary companies, banking, and insurance coverage sectors, you possibly can additionally discover employment in fields like healthcare, expertise, property, gaming, or retail. Principally, wherever there’s danger, there’s a necessity for somebody to mitigate it. 

Typical roles within the monetary crime prevention sector embrace: 

  • Anti Cash Laundering (AML) Officer
  • Cash Laundering Report Officer (MLRO)
  • Monetary Crime Officer
  • Compliance Officer
  • Head of Compliance
  • Threat Supervisor
  • Compliance Help or Analyst
  • Onboarding (KYC/CDD) Specialist

Whereas every position will differ by way of duties, you’ll normally have to show expertise in essential drawback fixing, information evaluation, challenge administration, and naturally, have an curiosity in your chosen {industry}.  


4. You received’t all the time want a level to get began

While some employers could search for candidates with a level in a related sector (e.g. enterprise, economics, regulation, finance), a college diploma isn’t the one manner you may show your expertise within the area of monetary crime. 

In truth, the rising significance of compliance in enterprise implies that industry-specific {qualifications} have gotten extra precious than ever earlier than. And since the compliance sector is so fast paced, conserving your data updated is essential.

Degree 3 {qualifications} which are accredited by the Affiliation of Governance, Threat and Compliance such because the Certificates in Compliance, the Certificates in KYC and Buyer Due Diligence, the Certificates in Sanctions Compliance, the Certificates in ESG Ideas and Requirements, the Certificates in Company Governance, and the Certificates in Anti Cash Laundering (AML) are significantly revered by employers. 

These quick programs could be studied on-line, at your individual tempo, from wherever you’re – that means you received’t have to sacrifice different commitments, and may simply stability your research alongside your profession.  

View all programs


Why examine with London Governance & Compliance Academy (LGCA) 

LGCA is a multi-accredited UK studying supplier specialising in governance, danger, compliance, monetary companies and cyber safety. 

They’re an accredited coaching accomplice (ATP) of the Chartered Institute for Securities & Funding (CISI), the Affiliation of Governance, Threat and Compliance, and the Worldwide Affiliation of Privateness Professionals (IAPP), amongst others, providing sensible data to assist professionals excel of their careers and meet the calls for of immediately’s monetary sector.

Listed below are a number of extra advantages of finding out with LGCA:

  • They’re the official coaching accomplice of AGRC, one of many quickest rising GRC skilled associations. 
  • They supply reasonably priced coaching programmes designed by material specialists with ample expertise within the fields of AML, compliance, and GRC normally.
  • Their studying programmes are on-line and self-paced, permitting you to review at your individual tempo and from wherever you’re.
  • LGCA affords a complete bundled product (with no further charges) that features:
    • AGRC examine handbook
    • 15-20 hour coaching programme that mixes textual content and video-based studying
    • A mock examination to arrange college students for the precise AGRC examination
    • Two probabilities to cross the AGRC examination
    • One yr of free membership to AGRC
    • Customer support assist


Need to be taught extra about how an accredited compliance qualification might aid you begin a profession in monetary crime prevention? Enquire now, or view all compliance programs beneath. 


Certificates in Compliance


Certificates in Anti Cash Laundering (AML)


Certificates in KYC and Buyer Due Diligence 


Certificates in ESG Ideas and Requirements



LGCA is a multi-accredited UK studying supplier specialising in governance, danger, compliance, monetary companies and cyber safety. 







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