💰 🤦🏾‍♀️ Why I Think ACAMS Should NOT Lower Their Prices 💰 🤦🏾‍♀️

Welcome to the episode 26 of the 2nd season of “WE WERE ON A BREAK” - Ross Voice. The series where the host, Stephen Brent Sargeant (Compliance Consultant to Bitfinex) talks to industry professionals during the CoronaVirus (COVID-19) quarantine and gains industry insights and expertise. In response to mix reactions to the AML educational juggernaut ACAMS $500 Million sale to French Investment Company, Wendel, I breakdown why I think ACAM should maintain their pricing scenario

Youtube - https://lnkd.in/dcRvaaaA

In this episode the host, Stephen Brent Sargeant responds to Oonagh van den Berg of Raw Compliance’s post on ACAMS recent sale and although he is in agreement of the majority of her points, the solution doesn’t seem to be alternative organizations and the emphasis should be put on AML professionals speaking with their dollars and for ACAMS to provide more value for the amount they are charging.

This is probably not going to be a popular opinion for most AML professional’s but definitely some food for thought.

**This interview was recorded on February 6, 2022

**Disclaimer**
The views and opinions expressed in this episode (and all episodes) are those of the host and the guests. They do not purport to reflect the opinions or views of their employers, contractors or any organization they may be affiliated with now or in the future.

Discussion Topics
•Disclaimer – ACAMs has been instrumental in my career and I’m a super fan of many of the professionals that work there and they have made more efforts than any other organizations in the space to promote support for BIPOC and BAME professionals (mentioned: Lashvinder Kaur / acknowledged scholarship programs with FINTRAIL)
•The ACAMS certification and membership fee doesn’t “appear” to be a significant barrier to excel in this industry and is definitely not a barrier to entry.
•The information is essentially free or available in some form online, but if you want to have the prestige of having the designation there should be a cost for certification. No one is entitled to just become a certified AML professional and these organizations spend a lot of time, resources and capital to become industry leaders (mentioned: ACAMS / ACFCS)
•If the information was free most of ACAMs competitors may probably be out of business and they are essential for other organizations to fill in the gaps (mentioned: Raw Compliance and
•Do people value the least expensive courses and will professionals value the information. Will employers around the world value those less expensive certificates and prefer them on job descriptions
•ACAMS has to increase the value they provide to their community including the CAFCA scholarship, the free anti-human trafficking training courses
•Are you checking in with your community ?? Have you reached out to your community in the last two years and checked in on them
•ACAMS designation is only one small part of the puzzle and professionals need to focus on soft skills and work experience as well.
•ACAMS and ACFCS has a fullsome certification course and they aren’t just throwing together presentations and considering it a course. There is a lot of planning, expenses and strategies that go into building these courses
•Big organizations have a bigger value proposition for industry professionals including compensation, exposure and network connection, which may outperform many of the smaller organizations (mentioned: Faisal I.
•What are you paying for ??? Just don’t pay if you feel you have extracted enough of the value out of the professional relationship
•If you are really struggling financially, it doesn’t hurt to ask these organizations or present creative ways that you can gain access to their courses.
•ACFCS has really gained traction over the pandemic supporting the community with free courses, focus on cryptocurrency / fintech and more creativity and have a huge opportunity to push themselves as the industry leader

Stephen Brent Sargeant (Host)
•LinkedIn (Best way to reach me) - linkedin.com/in/stephen-brent-sargeant-cams
•Instagram (Everyday type stuff) https://www.instagram.com/stephen_b_sargeant/
•Twitter (I communicate in GIFs) - https://twitter.com/lifesgt
•Business Related Matters (Let’s Collab): stephenbsargeant@gmail.com

Resources
•Oonagh van den Berg Post about ACAMS sale: https://www.linkedin.com/posts/oonaghvandenberg_breaking-french-company-agrees-to-buy-acams-activity-6891424604209172480-r57a
•How I Got Into Fincrime Compliance and Cryptocurrency) – Fintrail Podcast: https://www.spreaker.com/episode/41075463
•So You Want To Work In Crypto (Shelley Schachter-Cahm) - https://www.linkedin.com/posts/stephen-brent-sargeant-cams_so-you-want-to-work-in-crypto-compliance-activity-6872520607905456128-9NPK
•3 Tips To Prep For Crypto Compliance Interview - https://www.linkedin.com/posts/stephen-brent-sargeant-cams_aml-compliance-blockchain-activity-6876533429148676096-Rysr
•How To Get A Job In Crypto – What Certifications To Take: https://www.linkedin.com/posts/stephen-brent-sargeant-cams_tweet-aml-compliance-activity-6868919921863118848-fAB1

Background Music (beat name: Leslie)
•Goose Goddi (Music Producer) - https://instagram.com/goosegoddi?igshid=1paia8lwy2x3o
•Beats Can Be Found On Amazon Music - https://www.amazon.com/Music-Station-Goose-Goddi/dp/B08B4BLCH1