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Topics Covered
All in all, the CAMS exam is based on four domains. The first of which is Risks and Methods of Money Laundering & Terrorism Financing. This topic accounts for 26% of the exam items and consists of several subdomains. Thus, the following is a brief portion of the list of those subdomains: recognize ways of money laundering used by banks and similar institutions, by insurance companies, by broker-dealers, capital markets, or investment advisors. What's more, you need to also be aware of recognizing methods of money laundering utilized by organizations such as casinos or other game-related industries, by companies dealing with precious metals or other high-value goods, real estate, etc. In addition, here, you need to know more about the red flags, commercial transactions, human trafficking, and the like.
The second objective is Compliance Standards for Anti-money Laundering (AML) and Combating the Financing of Terrorism (CFT) which stands for 25% of all test content. In particular, this domain consists of 11 areas. So, to master this topic in full, you need to learn to recognize the main aspects of the EU Directives on money laundering, the USA PATRIOT Act, and the OFAC sanctions. On top of that, you need to touch on how to identify the FATF 40 Recommendations and how to deal with the aspects of the BASEL Committee Customer Due Diligence Principles including the coverage of Egmont Group objectives.
The third section the real exam tests individuals on are AML, CFT, and Sanctions Compliance Programs that covers 28% of the exam and consists of 31 subdomains. In all, under this category, you have to recognize the main items of an anti-money laundering training program and the part that senior management and director boards play in how an organization deals with anti-money laundering oversight. Then, you need to also be proficient in handling AML tools, governance, audits, and situation.
The last part covered is Conducting and Supporting the Investigation Process detailing 21% of the exam questions. All in all, such a portion focuses on recognizing suitable methods of conducting interviews for potential parties involved in an anti-money laundering event, dealing with public source information or other sources of information that may be available for use in an investigation given a specific scenario, accepting ways in which law enforcement organizations may request data from an institution with regards to money laundering, etc.
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Career Opportunities
Individuals who have obtained the CAMS designation may receive a range of benefits. They include furthering one's professional portfolio via demonstrating a better understanding of the detection and prevention techniques of financial crime, helping to protect their organization from money laundering threats, and lessening financial crime risks. What's more, by flaunting this qualification on your resume, you can opt for such job roles as an Anti-Money Laundering Analyst, Bank Secrecy Act (BSA) Officer, Staff Auditor, Management Consultant, etc. When it comes to the annual payment received by those specialists who got CAMS certified, it equals almost $82k per year as shown by Payscale.com.
Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf
ACAMS CAMS Deutsch Exam Syllabus Topics:
| Section | Weight | Objectives |
| Topic 1: Compliance Standards for AML/CFT | 25% | - Risk-based approach fundamentals
- 1. Application across jurisdictions
- 2. Principles of risk assessment
- Global regulatory frameworks
- 1. USA PATRIOT Act and national regulations
- 2. FATF 40 Recommendations
- 3. Basel Committee guidelines
- 4. Wolfsberg Principles
- 5. EU AML Directives
- International organizations and bodies
- 1. Financial Action Task Force
- 2. Egmont Group of Financial Intelligence Units
- 3. Standard-setting bodies
|
| Topic 2: Conducting and Responding to Investigations | 21% | - Investigation process and case management
- 1. Evidence gathering and analysis
- 2. Case documentation and reporting
- Disciplinary and remedial actions
- 1. Preventing recurrence
- 2. Corrective measures and sanctions
- Detection and red flags
- 1. Industry-specific red flags
- 2. Identifying suspicious activities and transactions
- Information sharing and cooperation
- 1. Domestic and international cooperation
- 2. Working with FIUs and law enforcement
|
| Topic 3: AML/CFT Compliance Programs | 28% | - Customer due diligence requirements
- 1. Ongoing monitoring
- 2. Beneficial ownership identification
- 3. KYC/CDD and enhanced due diligence
- Core elements of compliance programs
- 1. Policies, procedures and controls
- 2. Governance and oversight
- 3. Risk assessment and management
- Training, audit and independent review
- 1. Staff training programs
- 2. Internal and external audit functions
- 3. Continuous improvement
- Reporting and record-keeping
- 1. Record retention requirements
- 2. Suspicious activity reporting (SAR/STR)
|
| Topic 4: Risks and Methods of Money Laundering and Terrorist Financing | 26% | - Sector-specific vulnerabilities
- 1. Insurance sector
- 2. Money services businesses
- 3. Precious metals and high-value goods
- 4. Real estate
- 5. Securities and capital markets
- 6. Gaming and casinos
- 7. Banking and deposit-taking institutions
- 8. Legal and professional service providers
- Money laundering stages and mechanisms
- 1. Placement, layering, integration
- 2. Terrorist financing methods
- 3. Trade-based money laundering
- Sanctions and related risks
- 1. Consequences of non-compliance
- 2. UN, EU, OFAC and other sanctions regimes
|