ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) : CAMS

  • Exam Code: CAMS
  • Exam Name: Certified Anti-Money Laundering Specialists (the 6th edition)
  • Q & A: 865 Questions and Answers

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About ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) : CAMS Exam

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Recertification

Individuals must get recertified every three years if they wish to maintain their CAMS certification. To get recertified, individuals must have maintained their ACAMS membership, provide proof of having continued their professional education, and submit an online application along with a recertification fee.

Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf

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Certification Path

The CAMS Certified Anti-Money Laundering Specialist certification path includes only one CAMS certification exam.

About CAMS Designation

The CAMS certification is well-known around the globe for being the gold standard among Anti-Money Laundering validations which outlines the main aspects of money laundering and its prevention. What is more, such a certificate helps in encouraging a culture of compliance in organizations and demonstrating one's dedication to a structured risk-based approach. It also helps in meeting accepter anti-money laundering training requirements while rewarding and retaining top performers. Finally, the certification also aids in successfully safeguarding against financial damage.

CAMS Certified Anti-Money Laundering Specialist Exam

CAMS Certified Anti-Money Laundering Specialist Exam is designed by the Association of certified anti-money laundering specialist (ACAMS) is a global membership organization that provides training and certification, of anti-money laundering professionals worldwide. ACAMS is supporting financial AML professionals through knowledge sharing and skills development. CAMS exam tests candidates basic knowledge on setting up an AML compliance program, money laundering schemes, various international AML regulations, and how to handle AML investigations. CAMS exam is internationally recognized and a good designation for those who are looking to work in the AML field.

ACAMS CAMS Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risks and Methods of Money Laundering and Terrorist Financing26%- Money laundering stages and mechanisms
  • 1. Trade-based money laundering
  • 2. Terrorist financing methods
  • 3. Placement, layering, integration
- Sector-specific vulnerabilities
  • 1. Real estate
  • 2. Securities and capital markets
  • 3. Banking and deposit-taking institutions
  • 4. Insurance sector
  • 5. Money services businesses
  • 6. Gaming and casinos
  • 7. Legal and professional service providers
  • 8. Precious metals and high-value goods
- Sanctions and related risks
  • 1. Consequences of non-compliance
  • 2. UN, EU, OFAC and other sanctions regimes
Topic 2: AML/CFT Compliance Programs28%- Training, audit and independent review
  • 1. Internal and external audit functions
  • 2. Continuous improvement
  • 3. Staff training programs
- Core elements of compliance programs
  • 1. Risk assessment and management
  • 2. Policies, procedures and controls
  • 3. Governance and oversight
- Customer due diligence requirements
  • 1. Beneficial ownership identification
  • 2. KYC/CDD and enhanced due diligence
  • 3. Ongoing monitoring
- Reporting and record-keeping
  • 1. Record retention requirements
  • 2. Suspicious activity reporting (SAR/STR)
Topic 3: Conducting and Responding to Investigations21%- Disciplinary and remedial actions
  • 1. Corrective measures and sanctions
  • 2. Preventing recurrence
- Detection and red flags
  • 1. Identifying suspicious activities and transactions
  • 2. Industry-specific red flags
- Investigation process and case management
  • 1. Evidence gathering and analysis
  • 2. Case documentation and reporting
- Information sharing and cooperation
  • 1. Working with FIUs and law enforcement
  • 2. Domestic and international cooperation
Topic 4: Compliance Standards for AML/CFT25%- International organizations and bodies
  • 1. Egmont Group of Financial Intelligence Units
  • 2. Standard-setting bodies
  • 3. Financial Action Task Force
- Global regulatory frameworks
  • 1. USA PATRIOT Act and national regulations
  • 2. FATF 40 Recommendations
  • 3. Wolfsberg Principles
  • 4. EU AML Directives
  • 5. Basel Committee guidelines
- Risk-based approach fundamentals
  • 1. Principles of risk assessment
  • 2. Application across jurisdictions

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