Free CPD-Accredited Advanced Diploma Gives Compliance Professionals the Practitioner-Grade AML and Fraud Detection Skills the Financial System Urgently Needs
Alison has launched a new CPD-accredited diploma: Fraud Management and Anti-Money Laundering Diploma. This free advanced-level online course gives compliance officers, financial services professionals, risk practitioners, and those working in regulated financial environments the practical expertise to spot fraud before it becomes a costly problem — covering fraud risk identification, customer due diligence, suspicious activity investigation and reporting, AML governance, predicate offences, fraud typologies, anti-terrorism financing, and the emerging threats reshaping financial crime. No cost, no barrier — just the knowledge that protects institutions, customers, and the integrity of the financial system.
The diploma was developed with the expertise of Cherrise A. McClean, a CAMS-certified compliance professional with more than fifteen years of experience across FDA- and financial services environments, specialising in AML, anti-terrorism financing, and fraud detection across neobank and insurance sectors. Deeply fluent in FATF Recommendations, predicate offences, and international regulatory frameworks, Cherrise brings practitioner-grade depth to a course designed for professionals who need to understand not just the rules, but the reality of financial crime.
A $2 Trillion Problem Hidden in Plain Sight
The United Nations Office on Drugs and Crime estimates that between two and five percent of global GDP — approximately $800 billion to $2 trillion — is laundered through the financial system every year. That money does not flow through in abstract. It is the proceeds of drug trafficking, human trafficking, organised crime, corruption, and terrorism. It moves through banks, insurance companies, neobanks, cryptocurrency exchanges, real estate transactions, and shell companies. It passes through the hands of people who, if they had the right training, might have recognised it for what it was.
Regulatory expectations have never been higher. The Financial Action Task Force has significantly strengthened its 40 Recommendations, expanding the obligations on financial institutions to identify, investigate, and report suspicious activity. The EU has established a new Anti-Money Laundering Authority (AMLA) to enforce standards across member states with unprecedented reach. Regulators in the UK, US, Australia, and beyond have issued record fines for AML failures — billions of dollars in penalties levied not on criminals, but on the institutions that failed to stop them. And as traditional banks have adapted, the problem has migrated: neobanks, fintechs, and digital payment platforms have emerged as new vectors, often with compliance infrastructure that has not kept pace with their growth.
The gap at the centre of this crisis is not regulatory — it is human. AML and fraud detection depend on trained people who understand what financial crime actually looks like: how money is layered through accounts, what predicate offences create illicit proceeds, how fraud typologies evolve, and where the warning signs appear in a customer's transaction history. That knowledge has been locked behind expensive certification programmes and specialist qualifications — accessible to compliance teams at major institutions, but out of reach for the vast number of professionals working in smaller organisations, emerging markets, and fast-growing fintech environments where the risks are often greatest.
Training That Speaks Plainly About Financial Crime
Cherrise A. McClean, the course's subject matter expert, is direct about what effective AML training requires: "Money laundering is deliberate criminal activity and requires awareness and knowledge about the realities of what it looks like through different lenses. The course content speaks plainly about real laundering methods, predicate offences, and fraud typologies — equipping adult learners to recognise criminal intent and identify system failures."
Mike Feerick, Founder and CEO of Alison, added: "The financial system's defences against money laundering and fraud are only as strong as the people working within it. We want every compliance professional — whether they're at a global bank or a small fintech, whether they're in Lagos, London, or Louisville — to have access to the training that makes them effective. That knowledge should not be a privilege."
This launch strengthens Alison's growing financial services and compliance portfolio, reinforcing its mission to make practitioner-grade professional training freely accessible to everyone.
To learn more or enrol in the course, visit: alison.com/course/fraud-management-and-anti-money-laundering-diploma
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About Alison
Alison is a global leader in free online learning and skills development. With over 50 million registered learners across 193 countries (as of October 2025), Alison empowers individuals, communities, and organisations to upskill quickly and effectively – at zero cost.
The Alison platform provides immediate access to over 6,000 free, CPD-accredited courses, covering essential areas such as Artificial Intelligence, Data Science, Cybersecurity, Digital Marketing, Project Management, Business Operations, Healthcare and Sustainability. Courses are created by a mix of independent experts and global leaders, including IBM, Stanford and Microsoft.
For organisations, Alison offers a Free Learning Management System (LMS) that enables unlimited learners to access thousands of courses with no upfront cost. A premium version with advanced analytics and customisation is also available. Alison's offering includes a full suite of assessments and psychometric tools, including a Workplace Personality Assessment, Mental Health & Wellbeing Assessment, English Language Proficiency Test, as well as Numerical, Verbal, and Abstract Reasoning tests.
To further support career development, learners also gain access to a Career Guide, a Resumé Builder, and the ability to study offline through the Alison App. The platform is also expanding its reach with multilingual versions, starting with complete Spanish, French, and Hindi offerings — reaffirming its mission to make education accessible to anyone, anywhere.
Founded in 2007, Alison pioneered the concept of free, large-scale online learning and is recognised as the world’s first MOOC (Massive Open Online Course) platform. Today, its mission continues: to break down barriers to learning, helping people gain skills, build confidence, and improve their lives — no matter where they live or what they earn.
