Do you want to become a Certified Anti-Money Laundering Specialist? Becoming a CAMS-certified specialist is a great way to demonstrate your expertise in anti-money laundering. This guide will give you all the information you need to become a Certified Anti-Money Laundering Specialist (CAMS).
What is a Certified Anti-Money Laundering Specialist?
A Certified Anti-Money Laundering Specialist (CAMS) is an individual who has the specialized skills and knowledge to detect and prevent money laundering activities. Professionals working in anti-money laundering widely recognize and accept the CAMS certification.
What is the purpose of the CAMS certification?
The CAMS certification aims to ensure that individuals in the financial services industry have the necessary skills and knowledge to detect and prevent money laundering activities. This certification also serves as a benchmark for employers and other industry stakeholders to gauge the competency of financial services professionals.
What are the requirements for the CAMS certification?
To become a Certified Anti-Money Laundering Specialist, applicants must meet certain requirements. These requirements include three years of relevant work experience in the financial services industry, a bachelor’s degree from an accredited institution, completion of a CAMS approved training program, and passing the CAMS certification exam.
What is the CAMS certification exam?
The CAMS certification exam is a comprehensive, multiple-choice exam that tests an individual’s knowledge and understanding of anti-money laundering laws, regulations, and strategies. The examiners require participants to complete 150 multiple-choice questions within three hours.
Which topics does the CAMS certification exam cover?
The CAMS certification exam covers various topics related to anti-money laundering. These topics include international anti-money laundering regulations, risk-based approaches, compliance programs, suspicious activity monitoring and reporting, and operational risk management.
How do I prepare for the CAMS certification exam?
There are several ways to prepare for the CAMS certification exam. These include reading the CAMS Exam Guide, taking a CAMS approved training course, and taking practice tests. Additionally, applicants can take advantage of online study materials, such as flashcards and practice exams.
Where can I take the CAMS certification exam?
Prometric, a global test administration provider, administers the CAMS certification exam. The exam is available at over 600 testing centres in 90 countries worldwide.
How much does the CAMS certification cost?
The cost of the CAMS certification exam is $895. This fee covers the application fee, exam fee, and the cost of the CAMS Exam Guide.
What is the passing score for the CAMS certification exam?
The passing score for the CAMS certification exam is 75%. If an applicant does not pass the exam, they can retake it up to three times within 12 months.
What is the renewal process for the CAMS certification?
The CAMS Dumps certification must be renewed every three years to maintain the credential. It requires the completion of 40 continuing education credits and the payment of a renewal fee.