Safeguarding Africa's Integrity in a Complex World

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ACCPA Compliance Conference 2017

3 March 2017

Uhuru signs AML bill to law

The Anti-Money Laundering (AML) Journal of Africa publishes research articles from the perspective of African scholars, academics, and researchers whose voices have been left out in ongoing discussions about AML policy in Africa.

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For a long time, it was presumed that individuals could not be held legally liable for compliance negligence incurred by financial institutions. Compliance negligence was perceived as an institutional liability, not a personal liability. As such, compliance professionals were typically not held legally liable for compliance negligence that occurred under their watch; the blame often shifted from individuals to their employers. However, the assumption that individuals could not be held personally liable for compliance negligence took a sharp turn in May 2017 when Tom Haider, a former Chief Compliance Officer at MoneyGram agreed to pay a $250,000 fine in a case brought against him by the United States AML regulator, FinCEN, for compliance oversights that happened under his watch. The case against Haider is indeed a turning point in how personal liability is perceived within the compliance profession. The decision by the U.S. regulator to bring a case against Haider may be the beginning of a new era in the compliance profession where the compliance officer can be held personally liable for negligence in the line of duty. While the case against Haider took place in the United States, it however has potential implications for compliance professionals everywhere, particularly in cases where USD denominated transactions are involved. In Africa, compliance officers have been sacked by their employers for negligence. Others have been called upon to testify in legal matters. But cases where a compliance officer was personally held liable in a legal case brought forth by a regulator is rare in the African context. This might however change as the compliance function becomes more complex. 

25 January 2017

US to help Angola National Bank 

29 January 2017

Deutsche Bank cuts off NKB

31 January  2017

Pan-African bitcoin start up

21 February 2017

S/Sudan traces millions to Kenya

​​​​The Official Home of Certified Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Professionals in Africa (ACCPA)

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ACCPA Blog: Personal Liability for Compliance Officers 

20 February 2017

Alleged Corruption at Stanchart

28 February 2017

FICA bill pass in South Africa

The ACCPA Compliance Magazine is Africa’s first and only publication for compliance professionals. The magazine publishes articles written by compliance professionals working on the ground in Africa and distributed to ACCPA members. 

The ACCPA AML Certification Program provides exceptional world-class professional training in global Anti-Money Laundering (AML) regulations and Anti-Terrorist Financing measures that are specifically tailored to professionals working in Sub-Saharan Africa.