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CAMS Exam Reference
Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf
How to study the CAMS Exam
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- Determine the economic and social consequences of money laundering
- Determine the risks to individuals or institutions for violation of AML laws.
- 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 when and how to implement necessary program changes, the process to access the money laundering and internal factors that should be escalated to management
- 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
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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 Deutsch Exam Syllabus Topics:
| Section | Weight | Objectives |
| Topic 1: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) | 25% | - 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. Financial Intelligence Units (FIUs)
- 2. Regulatory Expectations and Enforcement Actions
- 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 2: Money Laundering Risks and Methods | 26% | - Payment Systems and Money Laundering Methods
- 1. Digital Currencies and Virtual Assets
- 2. Trade-Based Money Laundering
- 3. Correspondent Banking and Wire Transfers
- Nature of Money Laundering, Terrorist Financing, and Threat Finance
- 1. Threat Finance and Terrorist Financing
- 2. Differences between Money Laundering and Terrorist Financing
- 3. Characteristics and Methods of Money Laundering
- 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
|
| Topic 3: AML/CFT Investigations and Enforcement | 23% | - Enforcement Actions and Penalties
- 1. Asset Freezing, Seizure, and Forfeiture
- 2. Civil and Criminal Penalties
- 3. Extradition and Mutual Legal Assistance
- AML/CFT Investigation Process
- 1. Sources of Information and Open-Source Intelligence
- 2. Investigation Techniques and Evidence Gathering
- 3. Interviewing Witnesses and Subjects
- Cooperation and Information Sharing
- 1. Public-Private Partnerships
- 2. Law Enforcement and Regulatory Cooperation
|
| Topic 4: AML/CFT Compliance Program | 26% | - Ongoing Monitoring and Reporting
- 1. Currency Transaction Reporting (CTRs)
- 2. Transaction Monitoring Systems
- 3. Suspicious Activity Reporting (SARs)
- 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
|