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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.

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

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ACAMS CAMS Exam Syllabus Topics:

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

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