Society / Branch structure

The Society is organised on a Global basis with branches.

The Society is organised as follows:

The Society of Anti Money Laundering Professionals Limited is incorporated in Hong Kong.

It is a wholly owned subsidiary of The Anti Money Laundering Network Limited, a Hong Kong registered holding company. Company details are at The Anti Money Laundering Network website (click on link below).

In this document, “The Society” means the The Society of Anti Money Laundering Professionals Limited.

The Society is not organised as a non-profit organisation. It is not registered as an offshore corporation. The Society does business in Hong Kong and elsewhere.

The Society’s share and initial operating capital is provided by The Anti Money Laundering Network Limited. Its growth and operations are funded by subscriptions and joining fees and in due course from sales of optional services, sponsorship and education and training courses.

Technical and administrative support for The Society is provided by AML Net Sdn Bhd, a Malaysian corporation which is a wholly owned subsidiary of The Anti Money Laundering Network Limited.

Presently, The Society does not maintain physical premises or staff in Hong Kong as its operational requirements are undertaken in Malaysia.

The Society is an umbrella organisation which operates on a form of franchise basis with branches in major financial centres around the world. The Society authorises the use of the name “The Society of Anti Money Laundering Professionals” to regional, national and local “branches” of appropriately qualified professionals upon specific and limited terms. Branches are self-governing and organised according to their local law on Associations and Societies and the terms set by The Society. Each branch must have a chairman, secretary and treasurer and must maintain proper financial and other records.

The Society provides a number of centralised services for the benefit of members of the branches, including membership administration services. The Society remits to the branch a sum in respect of each of its members in accordance with the Regulations of the Society.

Each of those branches operates according to local law on associations.

Branches are responsible for arranging periodic meetings and for conducting the branch in accordance with the local laws on associations, and for operating in accordance with the Branch Regulations laid down by The Society.

Branches must seek approval before applying the name of the Society to any education / training event including conferences organised by the Branch or any third party. For the avoidance of doubt, only the Society Secretariat can grant CPE points in respect of any event.