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The benefit in Obtaining the CAMS Exam Certification

  • Proving their AML experience to examiners and regulators
  • Protecting their company from money laundering threats and minimize money crime risks
  • Increasing their skilled worth through a higher understanding of financial crime detection and hindrance techniques
  • Meeting mandated AML training needs through preparation and study
  • ACAMS conducted a survey recently and the findings were pretty interesting on average, professionals who had their ACAMS made $25,000 more than their colleagues who did not have the CAMS certification!

Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf

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ACAMS CAMS Korean Exam Syllabus Topics:

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

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