Every 60 seconds, more than 1.5 million dollars are laundered worldwide, according to official estimates published in FATF and UN reports. Despite stricter anti-money laundering legislation, the global damage from financial crimes exceeds trillions of dollars annually. But the greater threat is not so much the scale, but the speed and technological sophistication of the schemes faced by modern business.
Have you ever considered how vulnerable your legal entity registration processes, international transactions, or even a simple customer base are to AML risks?
My experience at COREDO shows that even large companies successfully operating in the EU, Asia, or the Middle East encounter unexpected challenges when implementing AML policies.
AML Training: Where to Get Basic Knowledge?
Building a sustainable anti-money laundering system is impossible without systematic AML training for business owners, executives, and employees. International AML standards and FATF recommendations require not only the implementation of formal procedures but also regular skills enhancement through specialized AML courses, training, and certification.
The Best AML Courses for Business in the EU, Asia, Africa
- ACAMS (Association of Certified Anti-Money Laundering Specialists) is recognized as the world standard for AML officers, executives, and business owners. ACAMS certification is valued among regulators in the EU, UK, Singapore, and UAE.
- European Institute of Management, focused on EU specifics, including EBA and national regulator requirements.
- MAS AML Training (Singapore), relevant for fintech companies and banks operating under the supervision of the Monetary Authority of Singapore.
- FinTech AML Academy – focuses on startups, fintech, and e-commerce, with an emphasis on practical cases and the integration of AML processes into innovative business models.
| Course/Platform | Region | Format | Certification | Target Audience | Features |
|---|---|---|---|---|---|
| ACAMS | Global | Online/Offline | Yes | Executives, officers | International recognition |
| European Institute of Management | EU | Online | Yes | Business, fintech | Specialized in the EU |
| MAS AML Training | Singapore, Asia | Online | Yes | Banks, fintech | Regional requirements |
| FinTech AML Academy | Global | Online | No | Startups, fintech | Practical cases |
How to Choose an AML Course for Employees and Executives
The choice of AML training program depends on the business model, jurisdiction, and scale of operations. COREDO’s experience shows:
- For international holdings and banking groups, courses focusing on FATF recommendations, Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and corporate AML policy are optimal.
- Startups and fintech companies should choose training that addresses AML issues for virtual currencies, electronic money, cyber risks, and process automation.
- For top management and business owners, the focus is on strategic risk management, ROI from AML training investments, and practical aspects of implementing internal AML controls.
Certification and Training for Business
AML certification is not just a formality, but a strategic tool for minimizing risks and increasing trust from banks, partners, and regulators. International AML standards and FATF recommendations require key employees to undergo regular training, confirm their qualifications, and document the results (e.g., through internal AML documentation and corporate AML policy).
Implementing AML for Business: Step by Step
Implementing AML policy is a process that requires not only knowledge of legislation but also a deep understanding of business processes, corporate structure, and regulatory specifics of a particular jurisdiction. The solutions that COREDO’s team has implemented for clients in the EU, Asia, and UAE are always based on the principles of thorough customer verification (KYC, CDD, EDD), transaction monitoring automation, and regular AML audits.
Effective AML System for the Company
Effective AML procedures for companies include:
- Developing an internal AML policy based on international standards (FATF, AML/CFT Act, EBA, FCA, MAS recommendations).
- Assigning responsible persons (AML officer, internal AML control), conducting training and certification.
- Implementing Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), customer profiling, and sanctions screening procedures.
- Setting up automated transaction monitoring, detection of suspicious activities (Suspicious Activity Report, SAR), and regular updates of procedures considering new risks.
Documentation and AML Procedures
Efficient AML documentation is the foundation of compliance transparency and manageability. At COREDO, we recommend:
- Maintaining a centralized registry of all KYC/AML procedures, including the results of beneficiary verification (beneficial ownership), internal investigations, and financial monitoring reports.
- Conducting regular internal audits and AML risk assessments, documenting the results, and adjusting the corporate AML policy.
- Implementing the company’s sanctions policy, ensuring monitoring of its implementation, and storing all documents in accordance with EU, Asia, and Africa regulators’ requirements.
KYC/AML for E-commerce and Fintech
Particularly important is AML for fintech companies, e-commerce, and payment institutions. In these sectors, it is critically important to:
- Integrate KYC/AML systems with internal platforms, automate customer verification and transaction monitoring.
- Consider the specifics of electronic money, cryptocurrencies, and virtual currencies AML, as well as manage cyber risks.
- Obtain and maintain MSOL licenses for payment institutions, comply with regulatory sandboxes requirements, and regularly update procedures according to new fraud threats.
AML in the EU, Asia, and Africa: Features
Registration of legal entities in the EU, Asia, and Africa requires deep knowledge of regional AML requirements, licensing specifics, and interactions with regulatory bodies.
AML: Regional Requirements and Features
The COREDO team has accumulated unique experience in implementing AML systems in Estonia, Cyprus, Singapore, Hong Kong, UAE, and Mauritius.
- In Estonia and Cyprus, the focus is on transparency of ownership structure, identifying beneficiaries, and comprehensive customer verification.
- In Singapore and Hong Kong, regulators (MAS, HKMA) require regular updates of CDD procedures, the implementation of automated AML platforms, and integration with state databases.
- In UAE and Mauritius, international AML cooperation, information exchange with other jurisdictions, and compliance with FATF standards are emphasized.
Compliance with FATF Requirements
The key to successful compliance with international AML standards is the implementation of multi-level procedures for Due diligence, Customer Due Diligence (CDD), identifying beneficiaries (beneficial ownership), and regular AML risk assessment.
COREDO’s solutions for clients in the EU and Asia include:
- Conducting independent AML audits, preparing for regulatory inspections, and documenting all procedures.
- Setting up a transaction monitoring system, sanctions screening, and automated SAR generation.
- Continuous employee training, updating corporate AML policies, and integrating new FATF requirements into daily practice.
Implementation Mistakes in AML Practice
When considering the typical mistakes in AML implementation and their consequences, it is important to understand why these issues are so critical to business.
Implementation Mistakes in AML and Their Consequences
The most common mistakes identified by COREDO’s practice:
- Insufficient detail in internal AML policy and lack of regular updates to procedures.
- Ignoring sanctions screening requirements, resulting in account freezes and fines from European and Asian regulators.
- A formal approach to Customer Due Diligence (CDD) and lack of internal AML control, which in some cases led to investigations, asset freezes, and lengthy internal inquiries.
AML: Examples of Implementation in International Companies
- Conducting comprehensive audits and implementing automated AML platforms integrated into ERP systems.
- Developing KPIs for monitoring AML compliance, regularly assessing procedure effectiveness, and adjusting corporate policy considering new threats.
- Organizing regular training, educating AML officers and employees, which significantly reduced fraud risks and improved resilience to internal and external threats.
AML Automation Technologies: Trends 2025
This requires a competent choice of the right AML platform, meeting your business needs.
How to Choose an AML Platform
When selecting an AML platform, the COREDO team recommends considering:
- The ability to integrate with the company’s internal systems (ERP, CRM, banking gateways).
- Support for automation of transaction monitoring, sanctions screening, and SAR generation.
- Available tools for AML risk assessment, client profiling, and AML documentation management.
- Flexibility in customizing to different jurisdiction requirements and scalability when entering new markets.
KPI and Evaluation of AML System Effectiveness
Evaluating AML system effectiveness is based on:
- Regularly checking corporate policy compliance with international standards (FATF, EBA, MAS).
- Analyzing key metrics: the number of identified suspicious transactions, SAR processing speed, CDD/EDD success rate, level of process automation.
- Conducting independent AML audits, analyzing incidents, and adjusting procedures based on identified weaknesses.
Practical Recommendations for Business
- Invest in AML training for executives and employees, choose internationally recognized courses and certifications.
- Develop and regularly update internal AML policy, taking into account the specifics of jurisdictions and business models.
- Implement automated systems for transaction monitoring, sanctions screening, and AML documentation.
- Use AML function outsourcing when lacking internal resources, especially when entering new markets.
- Conduct regular internal audits, AML risk assessments, and adjust procedures in accordance with new regulatory requirements.
For effective compliance, it is important to keep employees’ knowledge up-to-date and respond to regulatory changes promptly.
Frequently Asked Questions About AML Training
I recommend training at COREDO.
Focus on programs emphasizing international standards, practical cases, and strategic risk management.
COREDO’s practice confirms: companies with trained staff are less likely to face account freezes, pass Licensing faster, and gain access to international banking services.
The main challenges are synchronizing procedures across jurisdictions, automating processes, and regularly training personnel.
Number of suspicious transactions, SAR processing speed, successful CDD/EDD rate, automation level.
Use international standards (FATF, EBA, MAS), integrate KYC/AML procedures with internal systems, and regularly update policy.
Implement procedures for data processing consent, use secure information transfer channels, and regularly update internal policies.
For large companies – an internal officer with regular training; for startups and fast-growing businesses: outsourcing with quality service control.
If you want to get individual consultation on implementing AML or selecting the optimal training for your team, the COREDO team is always ready to share their experience and offer strategic solutions proven in the most demanding jurisdictions.