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Recertification

Individuals must get recertified every three years if they wish to maintain their CAMS certification. To get recertified, individuals must have maintained their ACAMS membership, provide proof of having continued their professional education, and submit an online application along with a recertification fee.

What is the duration of the CAMS Exam

Format: Multiple choices, multiple answers Length of Examination: 3 1/2 hours

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Who should take the CAMS exam

The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.

  • Submit supporting documents.
  • Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
  • Provide three professional references.

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How much CAMS Exam Cost

There are two options. Candidate can choose either with a virtual classroom package or without a virtual classroom package.

Price and benefits of with virtual classroom package

  • The price of this package is $1,880 for private sectors and $1,540 for public sectors
  • This package consists of a CAMS study guide, Online Preparation Course, CAMS Virtual classroom and CAMS Examination

Price and benefits of without virtual classroom package:

  • The price of this package is $1,459 for private sectors and $1,145 for public sectors
  • This package consists of a CAMS study guide, Online Preparation Course and CAMS Examination

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

ACAMS CAMS Korean Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risks and Methods of Money Laundering and Terrorist Financing26%- Sector-specific vulnerabilities
  • 1. Securities and capital markets
  • 2. Legal and professional service providers
  • 3. Precious metals and high-value goods
  • 4. Money services businesses
  • 5. Insurance sector
  • 6. Banking and deposit-taking institutions
  • 7. Gaming and casinos
  • 8. Real estate
- Sanctions and related risks
  • 1. Consequences of non-compliance
  • 2. UN, EU, OFAC and other sanctions regimes
- Money laundering stages and mechanisms
  • 1. Trade-based money laundering
  • 2. Terrorist financing methods
  • 3. Placement, layering, integration
Topic 2: Conducting and Responding to Investigations21%- Investigation process and case management
  • 1. Evidence gathering and analysis
  • 2. Case documentation and reporting
- Detection and red flags
  • 1. Identifying suspicious activities and transactions
  • 2. Industry-specific red flags
- Disciplinary and remedial actions
  • 1. Corrective measures and sanctions
  • 2. Preventing recurrence
- Information sharing and cooperation
  • 1. Working with FIUs and law enforcement
  • 2. Domestic and international cooperation
Topic 3: AML/CFT Compliance Programs28%- Core elements of compliance programs
  • 1. Risk assessment and management
  • 2. Governance and oversight
  • 3. Policies, procedures and controls
- Reporting and record-keeping
  • 1. Record retention requirements
  • 2. Suspicious activity reporting (SAR/STR)
- Training, audit and independent review
  • 1. Internal and external audit functions
  • 2. Continuous improvement
  • 3. Staff training programs
- Customer due diligence requirements
  • 1. Beneficial ownership identification
  • 2. KYC/CDD and enhanced due diligence
  • 3. Ongoing monitoring
Topic 4: Compliance Standards for AML/CFT25%- Global regulatory frameworks
  • 1. FATF 40 Recommendations
  • 2. Wolfsberg Principles
  • 3. EU AML Directives
  • 4. USA PATRIOT Act and national regulations
  • 5. Basel Committee guidelines
- Risk-based approach fundamentals
  • 1. Principles of risk assessment
  • 2. Application across jurisdictions
- International organizations and bodies
  • 1. Egmont Group of Financial Intelligence Units
  • 2. Financial Action Task Force
  • 3. Standard-setting bodies

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