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ACAMS CAMS-JP: Certified Anti-Money Laundering Specialists (CAMS日本語版)

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Reading Time: 13 mins | Publish Date: 21 Jun 2021 | Update Date: 17 Oct 2021

How to Prepare For CAMS-JP Certified Anti-Money Laundering Specialist Exam

Preparation Guide for CAMS-JP Certified Anti-Money Laundering Specialist Exam

Introduction

ACAMS is the main Anti-Financial Crime professionals' international membership association. It helps people and organizations through thought leadership that are committed to ending financial crime, continuing professional education, and our best-in-class peer network.

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

The CAMS-JP Accredited Anti-Money Laundering Specialist Exam is recognized by institutions, governments, and regulators worldwide as the gold standard of AML certificates. CAMS is a proven global certification that defines, and how to avoid, the main principles of money laundering. People and teams can be trained as Anti-Money Laundering Experts in as little as three months.

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

Introduction to CAMS-JP Certified Anti-Money Laundering Specialist Exam

The CAMS-JP Certified Anti-Money Laundering Specialist Exam is designed by the Association of Certified Anti-Money Laundering Specialists (ACAMS-JP), a national membership organization that offers training and certification to practitioners in the field of anti-money laundering worldwide. ACAMS-JP, through information sharing and skills growth, assists financial AML professionals. The CAMS-JP exam tests the basic knowledge of the applicant on the development of an AML enforcement program, money laundering programs, different international AML laws, and how to manage AML investigations. The CAMS-JP exam is globally recognized for those who are looking to work in the AML sector and is a successful classification.

Every three years, CAMS professionals recertify. The process of recertification confirms that each Accredited Anti-Money Laundering Specialist remains committed to continuing professional education. For recertification, applicants must be registered as ACAMS members and must supply evidence of continuing professional education.

Topics of CAMS-JP Certified Anti-Money Laundering Specialist Exam

For the candidates to appear in the exam, they need to know the examination contents. The CAMS-JP Certified Anti-Money Laundering Specialist Exam consists of four domains. Below you will find the contents included for each of the domains:

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 the 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 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 in 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 CAMS-JP Certified Anti-Money Laundering Specialist Exam

The CAMS-JP certification is a globally recognized credential that recognizes individuals with advanced AML expertise who receive it. AML professionals who receive the CAMS-JP designation, position themselves as organization leaders and professional development experts. Improved knowledge, skills, and abilities are important if an applicant requires significant improvements in career development. Evidence of this advanced knowledge and expertise is offered by the CAMS-JP certification. If a person meets the following CAMS-JP exam eligibility criteria, then he should take this exam.

Applicants must have:

Active ACAMS membership 40 credits Education Prerequisites

  • Associates: 10
  • Bachelors: 20
  • Masters: 30
  • JD or Ph.D.: 40 For every year of experience, 10 credits For every hour of training relevant to financial crime, 1 credit

How to study the CAMS-JP Certified Anti-Money Laundering Specialist Exam

To prepare for the rigors of the CAMS test, the CAMS Study Guide is your key reference material and content source. In the CAMS Virtual Classroom, candidates who need additional guidance and study structure can opt to enroll. The CAMS Virtual Class offers candidates a standardized learning experience by dividing the study materials into six, two-hour classes that meet through a live web-based interactive classroom with an expert teacher once a week. Via weekly homework tasks and necessary readings, the CAMS Virtual Classroom choice sets candidates up for success.

Candidates who are studying for the CAMS-JP exam need to have the right study materials in place because it is difficult for them to clear the CAMS-JP exam without having the correct content. The materials to which they relate should be valid and in line with the current content of the course. There is no question that when you are studying for the CAMS-JP test, you need to have a decent amount of time and commitment. Candidates can search for the CAMS-JP exam preparation ebook and some video tutorials. You can find a lot of ACAMS workshops and webinars, you can take part in those events and develop your knowledge and skills.

CAMS-JP Certified Anti-Money Laundering Specialist Certification Path

Applicants wishing to take the CAMS exam and wishing to use and view a CAMS certificate must have an active membership in ACAMS. Refer to Eligibility Criteria for more information on prerequisites and certification path.

How much CAMS-JP Certified Anti-Money Laundering Specialist Exam Cost

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

WITH VIRTUAL CLASSROOM:

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

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

How to book the CAMS-JP Certified Anti-Money Laundering Specialist Exam

You have to follow these steps to participate in the CAMS-JP Certified Anti-Money Laundering Specialist Exam:

  • Step 1: Fill out the online application
  • Step 2: Choose your bundle for membership and CAMS certification.
  • Step 3: Send your invoice, order, and supporting documentation.
  • Step 4: After payment, you will get access to the ACAMS LMS where you will find all your preparation material along with the CAMS eLearning course.

What is the duration, language, and format of CAMS-JP Certified Anti-Money Laundering Specialist 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: English

CAMS-JP Certified Anti-Money Laundering Specialist Exam Certified Professional salary

The estimated average salary CAMS-JP Certified Anti-Money Laundering Specialist 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 CAMS-JP Certified Anti-Money Laundering Specialist Exam Certification

  • Professionals accredited by the CAMS-JP Exam expect both professional and personnel development.
  • Growing their professional value through a better understanding of the identification and hindrance strategies of financial crime.
  • Certified experience by CAMS-JP helps protect their business from threats of money laundering and minimizes risks of money crime.
  • CAMS-JP technical assistance organization needs extensive planning and analysis for meeting mandatory AML training.
  • Participants earn an ACAMS digital badge that they can put on their CV, attracting more employers.

Difficulty in Writing CAMS-JP Certified Anti-Money Laundering Specialist Exam

Particularly for those who do not have a securities enforcement or regulatory background and do not know how to manage AML investigations, money laundering schemes, different international AML regulations, and setting up an AML compliance program, this review is very difficult. Only through commitment, hard work, and the most accurate preparatory material can candidates get good grades in the CAMS-JP exam. Most online platforms include CAMS-JP exam preparation resources, but experts do not check them. Candidates must therefore select a forum that provides them with the best and most authentic CAMS-JP dumps that can have a positive effect on their final result. Many individuals depend on such types of platforms, but in the end, they often get low grades. Refer to the links down below for study material that will help in lowering the difficulty of the exam.

For more info read reference:

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