Hong Kong and Kuala Lumpur: 8 March 2010 (www.biznewsselect.com). The Society of Anti Money Laundering Professionals has launched a new class of membership. For this class, there is no annual membership fee for 2010.

The Society is in its grandfathering phase and therefore admission to the Society is based upon demonstrable experience. However, for those who are just starting out on their path as a counter-money laundering compliance and risk professional, their lack, or relative lack, of expertise has been a bar to membership.

The new Affiliated Member is has been introduced so that those with less than two years' relevant experience can nevertheless gain the advantages of membership.

The new Affiliated Member grade will have an annual membership fee - but for members joining in 2010, that fee is waived. There is a joining fee, paid on admission, which is not waived.

Affiliated members are permitted to remain at that level for a maximum of two years. During that time, they must achieve the qualification criteria for Associate Member and, at the end of the membership year in which they achieve those qualification criteria, must enrol as Associate Members, or terminate their membership.

The Society of Anti Money Laundering Professionals is part of The Anti Money Laundering Network, an international group of companies.

The Society's website is at www.socamlpro.org
The Anti Money Laundering Network's website is at www.antimoneylaundering.net