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ACAMS CAMS-Deutsch: Certified Anti-Money Laundering Specialists (CAMS Deutsch Version)

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How to Prepare For Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

Preparation Guide for Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

Introduction

ACAMS is the largest international membership organization for Anti-Financial Crime professionals. It supports individuals and organizations who are dedicated to ending financial crime through thought leadership, continuing professional education, and our best-in-class peer network.

ACAMS achieves its mission by certifying the achievements of its members, creating networking platforms to share best practices at both local and international levels, providing world-class continuing professional education for all levels of Anti-Financial Crime professionals regardless of location, sector, or industry, and finally by supporting organizations to build robust Anti-Financial Crime readiness.

Certified Anti-Money Laundering Specialists CAMS Deutsch Exam test is recognized as the gold standard in AML certifications by institutions, governments, and regulators worldwide. CAMS is an established global qualification that outlines the key principles of money laundering, and how to prevent it. In as little as three months, individuals and teams can be certified as Anti-Money Laundering Specialists.

This guide provides a detailed overview of the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) certification including all sorts of prerequisites for the exam, the exam format, topics covered, exam difficulty, and preparation methods including CAMS Deutsch dumps, and the target audience profile.

Introduction to Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam is designed by the Association of certified anti-money laundering specialists (ACAMS) which 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 Deutsch exam tests the candidate’s basic knowledge on setting up an AML compliance program, money laundering schemes, various international AML regulations, and how to handle AML investigations. CAMS Deutsch exam is internationally recognized and a good designation for those who are looking to work in the AML field.

Every three years, CAMS Deutsch professionals recertify. The recertification process validates that every Certified Anti-Money Laundering Specialist is maintaining its commitment to continuing professional education. For recertification, applicants must be registered as ACAMS members and must supply evidence of continuing professional education. For preparation, applicants must take CAMS Deutsch practice test.

Topics of Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

For the candidates to appear in the exam, they need to know the examination contents. The Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam consists of four domains. Below you will find the contents included for each of the domains. See the CAMS Deutsch dumps pdf for the preparation of these topics:

1. RISKS AND METHODS OF MONEY LAUNDERING AND TERRORISM FINANCING (26%)

This section constitutes of the following subtopics:

  • Identify the risks to individuals for violations of AML laws.
  • Identify the risks to institutions for violations of AML laws.
  • Identify economic and social consequences of money laundering.
  • Identify the purpose of sanctions being imposed (e.g., OFAC, UN, EU).
  • Identify methods to finance terrorism.
  • Identify methods to launder money used in banks and other deposit-taking institutions.
  • Identify methods to launder money used in insurance companies.
  • Identify methods to launder money using broker-dealers, investment advisors, and the capital markets (e.g., securities, futures).
  • Identify methods to launder money used in gaming (e.g., casinos).
  • Identify methods to launder money used in dealers of precious metal or high-value items.
  • Identify methods to launder money used in real estate.
  • Identify methods to launder money used in bureaux de change and money services businesses.
  • Identify methods to launder money used by lawyers, notaries, accountants, and auditors.
  • Given a scenario about trust and company service providers, identify the red flags that indicate laundering or financing terrorism.
  • Given a scenario about emerging risks associated with technology as an enabler of money laundering or financing terrorism, identify the red flags.
  • Given a scenario about banks and other deposit-taking institutions, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about insurance companies, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about broker-dealers, investment advisors, and the capital markets (e.g., securities, futures), identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about gaming (e.g., casinos), identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about dealers of precious metal dealers and high-value items, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about dealers of real estate, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about bureaux de change and money services businesses, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about lawyers, notaries, accountants, and auditors, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario, identify the red flags that indicate human trafficking.
  • Given a scenario about financial transactions that offer anonymity, identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about lack of transparency of ownership (e.g., shell companies, trusts), identify the red flags that indicate money laundering or financing terrorism.
  • Given a scenario about moving money, identify the red flags that indicate money laundering or financing terrorism could be occurring.
  • Given a scenario involving commercial transactions, identify the red flags that indicate how trade-based money laundering could be occurring.

2. COMPLIANCE STANDARDS FOR ANTI-MONEY LAUNDERING (AML) AND COMBATING THE FINANCING OF TERRORISM (CFT) (25%)

This section constitutes of the following subtopics:

  • Identify the key aspects of the FATF 40 Recommendations.
  • Identify the process that FATF uses to raise awareness of certain jurisdictions with lax AML controls.
  • Identify key aspects of BASEL Committee Customer Due Diligence Principles.
  • Identify key aspects of the Wolfsberg Group’s AML Principles as they relate to private banking.
  • Identify key aspects of the Wolfsberg Group’s AML Principles as they relate to correspondent banking.
  • Identify the key aspects of the EU Directives on money laundering.
  • Identify key aspects of the USA PATRIOT Act that have extraterritorial reach.
  • Identify key aspects of OFAC sanctions that have extraterritorial reach.
  • Given a scenario involving a non-US financial institution, identify the extraterritorial impact of the USA PATRIOT Act.
  • Identify the key roles of regional FATF-style bodies.
  • Identify the key objectives of the Egmont Group

3. AML, CFT AND SANCTIONS COMPLIANCE PROGRAMS (28%)

This section constitutes of the following subtopics:

  • Identify the components of an institution-wide risk assessment.
  • Given a scenario with unmitigated risks, identify the appropriate course of action that should be taken.
  • Given a scenario of institution-wide controls, record-keeping requirements, and other mitigating factors, identify how these components should be applied.
  • Given a scenario, identify the key aspects of delivering targeted training for different audiences and job functions.
  • Given a scenario, identify key components of an AML training program.
  • Identify the roles of senior management and the board of directors play in how an institution addresses AML oversight.
  • Given a scenario, identify the roles senior management and board of directors play in how the institution addresses AML governance.
  • Given a scenario, identify how customer onboarding should be implemented for the institution.
  • Given a scenario, identify areas to increase the efficiency and accuracy of automated AML tools.
  • Given a scenario, identify customers and potential employees that would warrant enhanced due diligence.
  • Given a scenario, identify the steps that should be followed to trace funds through a financial institution.
  • Given a scenario including general client behavior, identify the suspicious behavior.
  • Given a scenario including some suspicious client behavior, identify how the institution should respond to these behaviors.
  • Given a scenario, identify the red flags and pressures (internal and external) with obscuring wire transfer information (e.g., beneficiary, originator).
  • Given a scenario, identify red flags associated with transactions or use of accounts (e.g., cash transactions, non-cash deposits, wire transfers, credit transactions, trade financing, investment activity).
  • Given a scenario including red flags associated with transactions or account activity, identify how the institution should respond to the red flags.
  • Given a scenario including red flags associated with employee activity, identify how the institution should respond to the suspicious activity.
  • Given a scenario, identify situations in which the SAR/STR should be filed.
  • Given a scenario, identify how the SAR/ STR information in the documents should be protected.
  • Given a scenario, identify how to respond to law enforcement/governmental requests.
  • Given a scenario about an institution operating with multiple lines of business and/or in multiple jurisdictions, identify the important aspects of implementing an enterprise-wide approach to managing money laundering risk.
  • Given a scenario, identify appropriate steps to take to comply with sanctions requirements.
  • Identify sources for maintaining up-to-date sanctions lists.
  • Given a scenario about a relationship with a PEP, identify the appropriate steps to mitigate the risk.
  • Given a scenario, identify internal and external factors that can cause a reassessment of the current AML program.
  • Given a scenario, identify when and how to implement necessary program changes (e.g., policy/procedure change, enhanced training).
  • Given a scenario, identify the process to assess the money laundering and sanctions risk associated with new products and services.
  • Given a scenario, identify internal or external factors that should be escalated to management and/or the board of directors.
  • Given a scenario, identify how to respond to AML audit findings and/or regulator findings.
  • Given a scenario, identify the importance of ensuring the independence of an audit of the AML program.
  • Given a scenario, identify an appropriate risk-based approach to AML audits.

4. CONDUCTING AND SUPPORTING THE INVESTIGATION PROCESS (21%)

This section constitutes of the following subtopics:

  • Given a scenario about a high profile SAR/STR, identify how to report it to management/board of directors.
  • Given a scenario, identify the appropriate manner to report a SAR/STR to authorities.
  • Identify how to maintain and secure all supporting documentation used to identify suspicious activity.
  • Given a scenario, identify factors that indicate an institution should exist a relationship due to excessive money laundering risk.
  • Given a scenario, identify factors that should be considered to keep an account open based on a law enforcement agency request.
  • Given a scenario with an institution investigating a customer, identify the areas and/or records it should examine.
  • Given a scenario with a regulatory or law enforcement agency investigating an institution’s customer, identify the additional steps the institution should take.
  • Given a scenario with an institution being investigated by a regulatory or law enforcement agency, identify actions the institution should take.
  • Identify the factors that must be considered before institutions share customer-related information across and within the same jurisdiction.
  • Given a scenario involving a senior-level employee engaged in potentially suspicious behavior, identify how to address a potential AML situation (e.g., board member, CEO).
  • Identify appropriate techniques that can be used for interviewing potential parties involved in an AML event.
  • Given a scenario, identify the available public source data and other sources that can be used in an investigation.
  • Identify the methods that law enforcement agencies may use to request information from an institution.
  • Identify the types of information law enforcement agencies typically ask for from institutions during investigations.
  • Identify how authorities (e.g., FIUs, central banks, governments, regulatory bodies) can cooperate and provide assistance when conducting cross-border money laundering investigations.
  • Identify what a government FIU does and how it interacts with the public and private sectors.
  • Identify the role of strict safeguards on privacy and data protection in AML investigations.

Who should take the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

The CAMS Deutsch certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS Deutsch designation position themselves to be leaders in the business and to expertise in professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS Deutsch certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS Deutsch exam then he should take this exam.

  • Active ACAMS membership
  • 40 credits

Education:

  • 10 for Associates
  • 20 for Bachelors
  • 30 for Masters
  • 40 for JD or PhD

Work Experience

  • 10 credits for each year of experience
  • Unlimited

Training

  • 1 credit for each hour of financial-crime related training
  • Unlimited

Taking the CAMS Deutsch practice exams will make you familiar with the exam contents and topics which will enable you to decide if the exam best suits your interests. So always consider going through the CAMS Deutsch practice test before you opt for the exam.

How to study the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

The main and by far, the best study resource, is the CAMS Deutsch dumps. Over the years, the dumps have proved unbelievable passing rates among students. The CAMS Study guide is the second important main reference material and content source for preparing for the rigors of the CAMS examination. Candidates who need extra guidance and study structure may choose to enroll in the CAMS Virtual Classroom. The CAMS Virtual Class provides a structured learning environment to candidates by dividing the study materials into six, 2-hour classes that meet once a week with an expert instructor by way of a live web-based interactive classroom. The CAMS Virtual Classroom option sets candidates up for success through weekly homework assignments and required readings.

Candidates who are preparing for the CAMS Deutsch practice exam, need to have the right study materials in place because without having the right material it difficult for them to clear the CAMS Deutsch exam. The Materials which they are referring to should be legitimate and as per the latest course contents. No doubt that you need to give a good amount of time and dedication when you would be preparing for CAMS Deutsch practice test. The candidate should look for the ebook and some video tutorials for the preparation of the CAMS Deutsch exam. You can find a lot of seminars and webinar being conducted by the ACAMS, you can take part in those events as well which would be enhancing your knowledge and skill.

Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Certification Path

Candidates who wish to take the CAMS examination and wish to use and display the CAMS credential must have an active ACAMS membership. Refer to Eligibility Criteria for more information on prerequisites and certification path.

How much Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam Cost

ACAMS website provides two examination packages. One with a virtual classroom and the other one without virtual classroom. The cost of each package is stated below:

CAMS PACKAGE WITH VIRTUAL CLASSROOM:

  • Private sector: 2180 USD
  • Public sector: 1790 USD

STANDARD CAMS PACKAGE WITHOUT VIRTUAL CLASSROOM:

  • Private sector: 1695 USD
  • Public sector: 1295 USD

Recertification Fees:

  • Early Application: 200 USD
  • Regular Application: 250 USD
  • Late Application: 300 USD

The CAMS Deutsch dumps and other preparatory resources also add to the total cost of the exam.

How to book the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

You have to follow these steps to participate in the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam:

  • Step 1: Fill out the online application
  • Step 2: Choose your membership and CAMS Deutsch certification package.
  • Step 3: Submit your payment, application, and supporting documents.
  • Step 4: Upon payment, you will get access to the ACAMS LMS where you will find all your preparation material along with the CAMS eLearning course.
  • Step 5: Study CAMS Deutsch dumps pdf
  • Step 6: Take CAMS Deutsch practice test
  • Step 7: Schedule and Appear for the exam

What is the duration, language, and format of Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

  • Duration of Exam: 3.5 Hours
  • Number of Questions: 120
  • No penalty for guessing
  • Passing score: 75%
  • Type of Questions: Multiple choice (MCQs), multiple answers
  • Language of Exam: Deutsch (German)

Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam Certified Professional salary

The estimated average salary for Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam Certified Professional is listed below:

  • United States: 80,000 USD
  • India: 5,960,000 INR
  • Europe: 68,000 EURO
  • England: 62,000 POUND

The benefit of obtaining the Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam Certification

  • CAMS Deutsch Exam certified professionals expect to have both professional and personnel growth.
  • Increasing their skilled worth through a higher understanding of financial crime detection and hindrance techniques.
  • CAMS Deutsch certified expertise help in Protecting their company from money laundering threats and minimize money crime risks.
  • CAMS Deutsch professional help organization in Meeting mandated AML training needs thorough preparation and study.
  • Participants get a digital badge from ACAMS which they can place on their CV which would be attracting more employers.

Difficulty in Writing Certified Anti-Money Laundering Specialists (CAMS Deutsch Version) Exam

This exam is very difficult especially for those who have not a securities compliance or regulatory background and don’t know how to handle AML investigations, money laundering schemes, various international AML regulations, and setting up an AML compliance program. Candidates can only get good grades in the CAMS Deutsch exam by dedication, hard work, and the most accurate preparation material. Many online platforms are providing CAMS Deutsch exam preparation material but they are not verified by experts. So, Candidates have to choose a platform that gives them the best and authentic CAMS Deutsch dumps which can make a good impact on your final result. Many people rely on such kinds of platforms but in the end, they are mostly getting poor grades. Refer to the links down below for study material and CAMS Deutsch exam dumps that will help in lowering the difficulty of the exam.

For more info read reference:

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