Reading Time: 6 mins | Publish Date: 21 Jun 2021 | Update Date: 7 May 2022
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.
CAMS Exam topics
Candidates must know the exam topics before they start of preparation. Because it will really help them in hitting the core. Our CAMS dumps will include the following topics:
- Money laundering risks and strategies, like Black Market Peso Exchange and import and export price manipulation
- The Financial Action Task Force (FATF) Recommendations, the Basel Committee’s Report on client Due Diligence and also the Wolfsberg cluster Principles
- Money laundering and terrorist financing methods
- Recognition of AML compliance risks
- Important elements of an Anti-Money Laundering (AML) program
- Comply standards for anti-money laundering (AML) and combating the financing of terrorism (CFT)
- AML/CFT compliance program designs in several business settings
- Maintenance of an effective AML/CFT compliance program
- Conducting or supporting the investigation process
- SAR and STR filing
- The assistance of institutional investigations
- How to manage and support a money laundering investigation
The CAMS Certified Anti-Money Laundering Specialist certification path includes only one CAMS certification exam.
Who should take the CAMS exam
The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
- Submit supporting documents.
- Provide three professional references.
How to study the CAMS Exam
Certification-questions.com expert team recommend you to prepare some notes on these topics along with it don’t forget to practice Certified Anti-Money Laundering Specialist CAMS Dumps which been written by our expert team, Both these will help you a lot to clear this exam with good marks.
- Determine the risks to individuals or institutions for violation of AML laws.
- Determine the economic and social consequences of money laundering
- Determine methods to finance terrorism and to launder money used in banks, insurance companies, broker-dealers, investment advisors, capital markets, gaming, dealers of precious metal/high-value items, real estate, bureau de change, the business of money services, lawyers, notaries, accountants, and auditors.
- Provided a Scenario about trust, company service providers, emerging risks related to technology, banks, insurance companies, broker-dealers, investment advisors, capital markets, gaming, dealers of precious metal dealers, dealers of real estate, bureau de change, money services business, lawyers, notaries, accountants, auditors, financial transactions that offer anonymity, lack of transparency of ownership, moving money, involving commercial transactions and identify the red flags that indicate money laundering or financing terrorism.
- Determine the key aspects of the FATF, BASEL Committee Customer Due Diligence Principles, EU Directives on money and Wolfsberg Groups AML Principles as they relate to private/correspondent banking, USA PATRIOT Act and OFAC sanctions that have extraterritorial reach
- Provided a scenario, Determine the key aspects of delivering targeted training for different audiences and job functions, components of an AML training program, roles senior management, roles senior management, how customer onboarding should be implemented for the institution, area to increase the efficiency and accuracy of automated AML tools
- Provided a scenario, Determine when and how to implement necessary program changes, the process to access the money laundering and internal factors that should be escalated to management
How much CAMS Exam Cost
There are two options. Candidate can choose either with a virtual classroom package or without a virtual classroom package.
Price and benefits of with virtual classroom package
- This package consists of a CAMS study guide, Online Preparation Course, CAMS Virtual classroom and CAMS Examination
- The price of this package is $1,880 for private sectors and $1,540 for public sectors
Price and benefits of without virtual classroom package:
- This package consists of a CAMS study guide, Online Preparation Course and CAMS Examination
- The price of this package is $1,459 for private sectors and $1,145 for public sectors
How to book the CAMS Exam
These are following steps for registering the CAMS exam.
Step 1: Fill your contact and membership information form Step 2: Select your CAMS exam package and certification language Step 3: Select any payment method and write the certification name Step 4: Mail or Fax exam application with attached necessary documents (diploma, copies etc) that fulfill the 40 credit prerequisite to this address:
ACAMS Attn. Certification Department Brickell City Tower 80 Southwest 8th Street, Suite 2350 Fax: +1.305.373.7788 or +1.305.373.5229
What is the duration of the CAMS Exam
Format: Multiple choices, multiple answers Length of Examination: 3 1/2 hours
The benefit in Obtaining the CAMS Exam Certification
- ACAMS conducted a survey recently and the findings were pretty interesting on average, professionals who had their ACAMS made $25,000 more than their colleagues who did not have the CAMS certification!
- Increasing their skilled worth through a higher understanding of financial crime detection and hindrance techniques
- Protecting their company from money laundering threats and minimize money crime risks
- Meeting mandated AML training needs through preparation and study
- Proving their AML experience to examiners and regulators
Difficulty in writing CAMS 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 exam by dedication, hard work, and most accurate preparation material. There are many online platforms which are providing CAMS exam preparation material but they are not verified by experts. So, candidates have to choose a platform which gives them the best and authentic CAMS dumps which can make a good impact on your final result. There are many people rely on such kind of platforms but in the end, they are mostly getting poor grades. Candidates don’t have to worry about this as Certification-questions.com is only one of the best platform that provides the best CAMS preparation material. Our CAMS dumps consist of all the topics and the questions that will be asked in the real exam and the best part is that we provide CAMS dumps in PDF format that you can easily read it offline on smartphones and other electronic accessories such as laptops, desktops, and tablets. Certification-questions.com also contain braindumps which will be really helpful in making notes.