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To obtain the ACAMS CAMS certificate individuals must take and successfully pass the affiliated namesake CAMS exam, which requires individuals to go through a three-step process. This has been outlined below:
After gaining membership at ACAMS, individuals are required to submit an application form along with payment. To be eligible to send an application, individuals must meet the following requirements: hold an active ACAMS membership, have 40 ACAMS credits, possess an education (10 credits for associates, 20 credits for bachelors, 30 credits for masters, and 40 credits for JD, or PhD), possess work experience (10 credits for each year of work experience), and have training (1 credit for an hour of training in the field of financial crime).
After an individual is found to be eligible and their application has been approved, they may go on to schedule their CAMS evaluation.
Individuals may gain membership of ACAMS as individuals, as part of an enterprise, as public sector workers, or as part of a chapter. Members are required to make a standard membership payment.
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
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| Section | Objectives |
|---|---|
| Topic 1: Customer Due Diligence (CDD) and KYC | - Customer identification and verification - Enhanced due diligence for high-risk customers - Beneficial ownership and PEP screening |
| Topic 2: Transaction Monitoring and Reporting | - Suspicious activity detection and monitoring systems - Case management and investigation processes - Suspicious Activity Reports (SAR) / STR filing |
| Topic 3: AML Compliance Framework | - Regulatory obligations and enforcement expectations - Internal controls and governance - AML compliance program structure |
| Topic 4: Financial Crime Typologies and Risk | - Risk assessment methodologies - Common money laundering typologies across industries - Sanctions and embargo compliance |
| Topic 5: AML and CTF Fundamentals | - International AML/CTF standards and FATF recommendations - Stages and typologies of money laundering - Money laundering and terrorist financing concepts |
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