What Classifications of membership are available, and how are they described?

Student (Students are not entitled to letters after their names)

Associate (aSocAMLpro)

Membership (mSocAMLpro)

Fellow (fSocAMLpro)

Consulting Board Member (fSocAMLpro and permission to describe himself as “Fellow and Consulting Board Member)

Consultant (Consultant Member, The Society of Anti Money Laundering Professionals)

Corporate

Corporate (Corporate member, The Society of Anti Money Laundering Professionals)

Sponsor (Sponsor, The Society of of Anti Money Laundering Professionals)

Founding Sponsor (Founding Sponsor, The Society of Anti Money Laundering Professionals)

The expression in brackets is the designation which the member of sponsor is entitled to use.

How is my classification of membership determined?

During the launch phase of the Society, which is until the 31 March 2008, members are "grandfathered in."

This means that your membership level will be determined by the previous experience which you declare on your application form.

After the launch phase, all new members with relevant and sufficient experience will join at the Associate grade. For those that do not meet Associate grade criteria, they will be able to join as a student member and after passing an entrance examination be admitted to Associate.

Elevation through membership levels will depend on performance in examinations which will be conducted through the Society's Learning Platform.

Is there a requirement for Continuous Professional Development?

As from 1 January 2008, all members will need to maintain a certain number of hours of CPD. The regulations will be published in December 2007, in time for renewals of membership. In summary, in order to maintain the membership grade, a certain number of hours of approved development will be required. There will be a variety of ways of securing those hours and members will be required to self-certify. However, at least a part of those hours will be on-line reading from the Society's website and hours will be credited for articles written for approved publications, including the Society's member's website.

How much does membership cost?

The cost of membership depends on the your membership level.

There is a joining fee of USD75

The joining fee is waived

- for students and

- during the launch period (June 2006 - 31 March 2008) for delegates to Financial Crime Fora.

There is an annual fee

Student : USD 75.00

Associate : USD150.00

Member : USD225.00

Fellow : USD300.00

Applicants employed in Least Developed Countries (LDC) (as defined by the United Nations at the time of application) may apply for a 30% reduction in annual fee and a waiver of the joining fee for the first two years of membership.

The fee includes Branch Membership fee of USD50 (LDC: USD30; student: USD30).

Consultant : USD 450.00

What are the criteria for and benefits of Student Membership?

To be a student member you must meet the following criteria

1. Be a full time student at a recognised university undertaking a course leading to a bachelors, masters or doctoral degree in a business, finance or law related subject; or

2. Be a part time student at a recognised university undertaking a course leading to a bachelors, masters or doctoral degree in a business, finance or law related subject and in otherwise full time employment in a financial services business, a government department, a regulator or enforcement agency or in the internal audit, compliance or risk management department of a commercial enterprise or organisation.

3. Any person who has been working in any of the following roles immediately prior to the making of the application for a period of less than two years:

a. compliance, risk management or internal audit of a registered financial institution or other organisation required to comply with regulations made under laws to combat money laundering and terrorist financing; or

b. the drafting of legislation or regulations applicable to counter-money laundering and anti-terrorist financing; or

c. the following government roles; or

- financial crimes investigation in a police, customs or regulatory environment; or

- intelligence agency including FIU or internal or external security service; or

d. internal audit in a commercial organisation or NGO.

Note: internal general management or consulting such as HR, training, IT are not eligible for this class of membership and should apply to be a consultant member.

What are the criteria and benefits of Associate Membership?

Note: these terms apply during the launch phase of the Society which will end at the end of March 2008.

Admission as an Associate Member is restricted to the following:

Any person who has been working in any of the following roles for at least two years continuously immediately prior to the making of the application:

1. compliance, risk management or internal audit of a registered financial institution or other organisation required to comply with regulations made under laws to combat money laundering and terrorist financing; or

2. the drafting of legislation or regulations applicable to counter-money laundering and anti-terrorist financing; or

3. the following government roles; or

- financial crimes investigation in a police, customs or regulatory environment; or

- intelligence agency including FIU or internal or external security service; or

4. internal audit in a commercial organisation or NGO.

Note: internal general management or consulting such as HR, training, IT are not eligible for this class of membership.

What are the criteria and benefits of being an Ordinary Member?

What are the criteria and benefits of being an Ordinary Member? Note: these terms apply during the launch phase of the Society which will end at the end of March 2008

Admission as an Ordinary Member is restricted to the following:

Any person who has been working in any of the following roles for at least five years continuously immediately prior to the making of the application:

1. compliance, risk management or internal audit of a registered financial institution or other organisation required to comply with regulations made under laws to combat money laundering and terrorist financing; or

2. the drafting of legislation or regulations applicable to counter-money laundering and anti-terrorist financing; or

3. the following government roles; or

- financial crimes investigation in a police, customs or regulatory environment; or

- intelligence agency including FIU or internal or external security service; or

4. internal audit in a commercial organisation or NGO.

Note: internal general management or consulting such as HR, training, IT are not eligible for this class of membership and should apply to be a consultant member.

What are the criteria and benefits of being a Fellow?

Note: these terms apply during the launch phase of the Society which will end at the end of March 2008.

Admission as an Fellow is restricted to the following:

Any person who has been working in any of the following roles for at least ten years continuously immediately prior to the making of the application:

1. compliance, risk management or internal audit of a registered financial institution or other organisation required to comply with regulations made under laws to combat money laundering and terrorist financing; or

2. the drafting of legislation or regulations applicable to counter-money laundering and anti-terrorist financing; or

3. the following government roles; or

- financial crimes investigation in a police, customs or regulatory environment; or

- intelligence agency including FIU or internal or external security service; or

4. internal audit in a commercial organisation or NGO.

Note: internal general management or consulting such as HR, training, IT are not eligible for this class of membership and should apply to be a consultant member.

What are the criteria and benefits of being a Consultant member?

Consultant members must meet the minimum standards set down for Ordinary Membership. However, they are not Ordinary Members. Consultants are those engaged in the provision of consultancy or advisory services including internal services such as specialist dedicated training in relation to money laundering / terrorist financing. Consultants are not entitled to the designations Associate, Member or Fellow.