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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.

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.

For more info visit:

CAMS Exam Reference

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.

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

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ACAMS CAMS Korean Exam Syllabus Topics:

SectionWeightObjectives
AML/CFT Investigations and Enforcement23%- Cooperation and Information Sharing
  • 1. Law Enforcement and Regulatory Cooperation
  • 2. Public-Private Partnerships
- Enforcement Actions and Penalties
  • 1. Extradition and Mutual Legal Assistance
  • 2. Asset Freezing, Seizure, and Forfeiture
  • 3. Civil and Criminal Penalties
- AML/CFT Investigation Process
  • 1. Investigation Techniques and Evidence Gathering
  • 2. Sources of Information and Open-Source Intelligence
  • 3. Interviewing Witnesses and Subjects
AML/CFT Compliance Program26%- Record Keeping and Information Sharing
  • 1. Information Sharing Arrangements (e.g., Section 314(b))
  • 2. Confidentiality and Data Protection
- Customer Identification Program (CIP) and Customer Due Diligence (CDD)
  • 1. Beneficial Ownership Identification
  • 2. Enhanced Due Diligence (EDD)
  • 3. Customer Identification and Verification Procedures
- Ongoing Monitoring and Reporting
  • 1. Currency Transaction Reporting (CTRs)
  • 2. Suspicious Activity Reporting (SARs)
  • 3. Transaction Monitoring Systems
Money Laundering Risks and Methods26%- Money Laundering and Terrorist Financing Risks
  • 1. Jurisdictional Risks (High-Risk and Non-Cooperative Countries)
  • 2. Politically Exposed Persons (PEPs)
  • 3. Risk Assessment Concepts and Methodologies
- Nature of Money Laundering, Terrorist Financing, and Threat Finance
  • 1. Differences between Money Laundering and Terrorist Financing
  • 2. Threat Finance and Terrorist Financing
  • 3. Characteristics and Methods of Money Laundering
- Payment Systems and Money Laundering Methods
  • 1. Trade-Based Money Laundering
  • 2. Digital Currencies and Virtual Assets
  • 3. Correspondent Banking and Wire Transfers
Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)25%- AML/CFT International Standards
  • 1. Wolfsberg Group Principles
  • 2. Financial Action Task Force (FATF) Standards and Guidance
  • 3. United Nations (UN) Sanctions and Conventions
- AML/CFT Compliance Program Designation
  • 1. Board and Senior Management Oversight
  • 2. Components of an Effective AML/CFT Program
  • 3. Risk-Based Approach Implementation
- AML/CFT Regulatory Bodies and Guidance
  • 1. Regulatory Expectations and Enforcement Actions
  • 2. Financial Intelligence Units (FIUs)

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