The relaunch of the We Fight Fraud community as the We Fight Fincrime Association marks a defining moment in the fight against financial crime. This evolution responds to the escalating threat of polycriminality across banking, payments, and cryptocurrency sectors.
Co-founded and led by Tony Sales, a former fraudster who defrauded banks and businesses of tens of millions over thirty years before his reformation, the Association leverages unprecedented insider knowledge to help organisations prevent the exact tactics he once used during his criminal career.
By offering free membership for police and public sector employees, the organisation promotes the essential cross-sector collaboration required to dismantle sophisticated financial crime networks.
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Why Cross-Sector Collaboration Matters
Criminal networks don’t operate in silos. They exploit vulnerabilities across multiple sectors simultaneously, coordinating activities across various financial platforms to maximise their reach and minimise detection.
The We Fight Fincrime Association provides a structured environment where professionals can exchange intelligence on these interconnected threats. When a vulnerability is discovered in the fintech sector, it’s immediately communicated to traditional banking compliance teams. When law enforcement identifies a new laundering typology, payment providers can adapt their controls.
This level of transparency is essential for creating a robust deterrent against those who seek to exploit the global financial system for illegal gain.
The Four Pillars of Defence
The Association unites MLROs, compliance heads, law enforcement professionals, and risk specialists through four core pillars:
Connect: Industry-wide networking that breaks down sector barriers and enables intelligence sharing across banking, payments, crypto, and law enforcement.
Learn: Specialist training and consultancy that reflects the current threat environment, keeping practitioners informed about the latest criminal tactics and technological advancements.
Influence: Policy development initiatives that create standardised regulatory wording and industry-wide best practices, ensuring consistent communication with regulators.
Grow: Career and professional development opportunities through sector-specific committees and collaborative problem-solving.
Members benefit from a shared knowledge base that includes the latest trends in digital asset laundering, identity manipulation, and emerging fraud typologies.
Understanding Polycriminality
The distinction between fraud and broader financial crime has become increasingly blurred in the digital age. A single criminal group may simultaneously engage in cybercrime, narcotics trafficking, and money laundering.
The proceeds from fraud are almost always laundered through complex webs of accounts and virtual assets. This interconnected nature of modern financial crime requires a holistic perspective that encompasses the entire lifecycle of illicit finance, from the initial deception to the final integration of funds.
Traditional siloed approaches are no longer sufficient. The Association ensures that members are equipped to handle the multifaceted nature of polycriminality, where threats don’t respect sector boundaries or traditional categories of crime.
Knowledge Cross-Pollination Across Industries
The true strength of the We Fight Fincrime Association lies in its ability to facilitate knowledge cross-pollination across multiple industries.
A compliance officer in retail banking learns from the real-time fraud prevention tactics used by payment service providers. A cryptocurrency exchange gains insights from law enforcement about emerging money laundering typologies. A fintech startup accesses the collective wisdom of seasoned MLROs who have seen decades of criminal evolution.
This diversity is a hallmark of the Association, reflecting the reality that financial integrity is a collective responsibility. By bringing together experts from consulting, risk management, legal compliance, and law enforcement, the group creates a synergistic effect that enhances the capabilities of every member.
Small firms that may not have the resources to develop complex compliance frameworks on their own gain access to high-level expertise and proven methodologies. Large institutions benefit from fresh perspectives and innovative approaches developed in other sectors.
Standardising Industry Communication
One of the Association’s most ambitious initiatives involves creating standardised regulatory wording for the industry. Compliance professionals often struggle with inconsistent interpretations of new rules, leading to friction between financial institutions and their oversight bodies.
By developing a common language for discussing financial risks, the Association clarifies expectations and improves the quality of reports submitted to regulators. This standardisation is particularly important as new laws regarding digital assets and instant payments are implemented globally.
Clear communication ensures that both the regulator and the regulated entity focus on the same high-risk areas, making the overall system more efficient.
Building Collective Resilience
Financial crime doesn’t wait for industry to catch up. The tactics used by money launderers constantly evolve to bypass existing controls.
The Association provides the necessary infrastructure for unified action, offering ongoing learning that keeps practitioners ahead of criminal innovation. From artificial intelligence-driven fraud to automated laundering scripts, members stay informed about the latest technological threats.
The networking aspect allows members to build relationships that can be leveraged during times of crisis or when investigating suspicious cross-border activity. This human element is a powerful addition to the technological defences employed by modern financial institutions.
By fostering a culture of shared responsibility and mutual support, the Association strengthens the overall integrity of the financial system. The focus on polycriminality ensures that no sector is left behind, as the group works to secure every link in the financial chain.
As the Association continues to grow, its influence on global standards and practices is expected to increase, providing a more stable environment for legitimate economic activity.
A Unified Front Against Financial Crime
The success of financial defence in the modern era depends heavily on the ability of the industry to act as a singular, cohesive unit.
The We Fight Fincrime Association fills a critical gap by providing a platform for cross-sector engagement that was previously unavailable to many practitioners. It ensures that intelligence flows, solutions are shared, and no organisation fights alone.
This unified front is the most effective way to protect society from the negative impacts of financial crime and to ensure that the global economy remains transparent and fair.
How Can You Get Involved?
The We Fight Fincrime Association is open to practitioners, leaders, and public sector professionals who believe financial crime is best tackled collaboratively. Those interested in joining the Association, accessing its resources, or contributing to its work can find full membership details on the Association’s website: https://wffassociation.org/
You can also follow the We Fight Fincrime Association on LinkedIn to stay up to date with insights, events, and developments as the community continues to grow: https://www.linkedin.com/company/wffassociation
Key Points:
- The We Fight Fincrime Association has officially launched to replace the former We Fight Fraud community
- Co-founder Tony Sales uses his history as a former fraudster to provide unique prevention insights
- The Association focuses on combating polycriminality across banking, payments, and cryptocurrency sectors
- It brings together MLROs, compliance heads, law enforcement, and risk specialists to share cross-sector intelligence
- Free membership is available for police and public sector employees
- The Association facilitates knowledge cross-pollination across multiple industries, strengthening collective defence
FinCrime Central is a proud partner of the We Fight FinCrime Association
