Welcome to the December 2023 Newsletter

Welcome to the December 2023 Newsletter

The past year was breathtaking in more than one way. As Covid subsided in the rearview mirror, new crises and events unfolded. ‘Polycrisis’ was an often-used term, some even started to call it ‘permacrisis’.

The year was characterised by an increasing interdependence and confluence of risks, instability, volatility, war, the weaponizing of food and energy, the cost-of-living crisis, social unrest and widening inequality. In short, black swans are not as scarce as I once thought.

Let’s not forget about artificial intelligence! 2023 will probably be remembered as the ‘year of AI’ with the advent of ChatGPT and other large language models (LLM’s). Digital transformation became a ‘must have’, almost at any cost. So too the need for innovative governance and regulation globally - an interesting space that I watch closely.

At the Institute, we have introduced a new membership system and website that provides our members and other stakeholders with a virtual community and networking opportunities. We commenced with the roll-out of our new AMLC Prac (SA) designation and awarded it to 20 members. We have introduced Privyseal to replace paper versions of our designations, and all 3 our designations were registered as Commissioner of Oaths. We have finalised the review of the GACP which will be effective from 2 January 2024. We offered thought leadership through our various forums, interest groups and annual conferences (our own and IFCA). In short, we were busy!

My heartfelt gratitude to each one of you for your support and active participation. As we bid farewell to 2023, let us carry the lessons learned with us. The Compliance Institute is not merely an institution. It is a community of trailblazers committing to shaping the future of compliance.

May you experience a peaceful Festive Season. We look forward to continuing serving you in the new year.