It's a question you may want to ask yourself if you're interested in getting into this world. It might sound glamorous, catching the baddies—and preventing cycles of crime in which vulnerable people always lose the most—but what does it really involve? And is it the best career for you?

Career Longevity

Perhaps the first important question is: does this career have longevity, and will the skills you learn remain in demand?

Well—and it might be difficult to term this 'good news'—but there is an ever-growing need for skilled financial crime fighters, and that doesn't seem as if it's going to change any time soon. In fact, with the globalization of finance and the rise of digital currencies, new types of financial crimes are emerging, requiring professionals to continually adapt and learn.

Technology is evolving continuously; fraudsters and criminals are using this evolution to achieve their ends and to succeed in getting past controls and systems. Financial crime prevention professionals will also need to get to grips with fast-changing technology in order to turn the tide. Professionals with key skills in financial crime prevention will have the ability to think ahead and plan for ways in which criminals can diversify.

This includes leveraging advanced analytics, artificial intelligence, and machine learning to detect suspicious activities that traditional methods might miss.

Financial crime isn't going anywhere, and therefore businesses and consumers will always need skilled people to protect them from this ever-present threat.

In response to crime, governments continue to update regulations at a very fast pace in a bid to ensure businesses protect consumers.

It is essential that businesses stay compliant with these regulations—if they don't, they can lose valuable reputational stature as well as having to pay steep fines.

And who will they employ to ensure they are fulfilling these duties? Financial Crime Prevention professionals.

So we can be fairly confident that this is a robust career choice with, it's reasonable to assume, longevity.

But what about the day-to-day job itself? What makes this a great career?

Career Progression

This is a profession which has a variety of options for progression, specialisation, and diversification. From entry-level positions like Compliance Analyst to senior roles such as Chief Compliance Officer, the career ladder is well-defined and offers ample opportunities for advancement.

You may find that your skills and interest lie in investigation; perhaps you are very good at spotting red flags and suspicious behaviour, doing the detective work and building a case.

Or perhaps you're interested in risk management; taking an overview of the key risks to the business, how they can be combatted, and applying critical thinking to evaluate the likelihood and impact of a potential threat.

You might just love regulation and want to move into compliance, where you could be responsible for remaining compliant across all regulations, including those pertaining to financial crime prevention.

Alternatively, you might be drawn to specialise in areas like anti-money laundering (AML), counter-terrorist financing (CTF), fraud prevention, or cybersecurity.

There are plenty of avenues you could take in this career.

Career Satisfaction

"We speak to financial crime prevention professionals day in, day out, and often we are speaking to them about what they like about their job." Says Quentin Downes at twenty84. They often highlight the dynamic nature of the field and the intellectual challenge it presents.

There is a real sense of purpose in this career that can become just as important as salary and other benefits. In this role you're not only protecting the business and consumers, but you're working towards preventing crime. The impact of your work extends to vulnerable people across the globe.

And on the subject of the globe—financial crime is universal. This means that when you work in prevention, you'll be linking up with counterparts and stakeholders across different jurisdictions. It can offer you the opportunity to share knowledge and work in diverse environments, which can be a very interesting aspect of the role. Moreover, many roles offer opportunities for international travel and collaboration with global teams.

A career in financial crime prevention...

• Has desirable skills and longevity
• Has multiple options for progression and diversity
• Has a social impact
• Can take your work across the world
• Offers continuous learning and professional development opportunities

If you're interested in a career in financial crime, whatever stage you're at in your career, get in touch with us for advice, help, and information!

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This blog was written in collaboration with Marco Beranzoni from FinCrime Agent. Marco Beranzoni is a seasoned financial crime prevention expert with over 20 years of experience working for global financial institutions and leading fintech vendors in the financial crime prevention space.

As a recognized thought leader, he speaks at industry events, sharing his insights on the latest trends and challenges in financial crime prevention. Marco is also the creator and host of the highly successful FinCrime Agent YouTube channel, boasting nearly 20,000 subscribers from the financial crime community. Through his channel, he provides valuable content to help professionals stay informed and advance their expertise.

Most recently, Marco launched the FinCrime Career Accelerator Course, designed to help individuals progress from entry-level roles up to senior positions. His dedication to mentoring and educating others underscores his commitment to passing on his legacy and contributing to the global fight against financial crime.