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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

Career Path

After obtaining this specialist-level CAMS certification, individuals may go on to get more advanced CAMS designations by ACAMS, which are offered in three fields. Thus, they are the Advanced CAMS - Audit, Advanced CAMS - Financial Crimes Investigations, and Advanced CAMS - Risk Management.

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ACAMS CAMS Korean Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: AML/CFT Compliance Program26%- Ongoing Monitoring and Reporting
  • 1. Currency Transaction Reporting (CTRs)
  • 2. Suspicious Activity Reporting (SARs)
  • 3. Transaction Monitoring Systems
- Record Keeping and Information Sharing
  • 1. Confidentiality and Data Protection
  • 2. Information Sharing Arrangements (e.g., Section 314(b))
- Customer Identification Program (CIP) and Customer Due Diligence (CDD)
  • 1. Enhanced Due Diligence (EDD)
  • 2. Beneficial Ownership Identification
  • 3. Customer Identification and Verification Procedures
Topic 2: Money Laundering Risks and Methods26%- Money Laundering and Terrorist Financing Risks
  • 1. Jurisdictional Risks (High-Risk and Non-Cooperative Countries)
  • 2. Risk Assessment Concepts and Methodologies
  • 3. Politically Exposed Persons (PEPs)
- 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. Digital Currencies and Virtual Assets
  • 2. Trade-Based Money Laundering
  • 3. Correspondent Banking and Wire Transfers
Topic 3: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)25%- AML/CFT Compliance Program Designation
  • 1. Risk-Based Approach Implementation
  • 2. Board and Senior Management Oversight
  • 3. Components of an Effective AML/CFT Program
- AML/CFT Regulatory Bodies and Guidance
  • 1. Regulatory Expectations and Enforcement Actions
  • 2. Financial Intelligence Units (FIUs)
- AML/CFT International Standards
  • 1. United Nations (UN) Sanctions and Conventions
  • 2. Wolfsberg Group Principles
  • 3. Financial Action Task Force (FATF) Standards and Guidance
Topic 4: AML/CFT Investigations and Enforcement23%- Enforcement Actions and Penalties
  • 1. Asset Freezing, Seizure, and Forfeiture
  • 2. Extradition and Mutual Legal Assistance
  • 3. Civil and Criminal Penalties
- Cooperation and Information Sharing
  • 1. Law Enforcement and Regulatory Cooperation
  • 2. Public-Private Partnerships
- AML/CFT Investigation Process
  • 1. Interviewing Witnesses and Subjects
  • 2. Investigation Techniques and Evidence Gathering
  • 3. Sources of Information and Open-Source Intelligence

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