Overview

The Certified Anti-Money Laundering Specialist training is designed to provide professionals with the expertise required to manage money laundering risks and comply with relevant regulations. It focuses on a comprehensive understanding of the principles, tools, and techniques used in detecting and preventing money laundering in a variety of industries, including banking, finance, insurance, and law enforcement. The CAMS certification is one of the most prestigious and globally recognized qualifications in the field of anti-money laundering (AML).

Offered by

ACAMS (Association of Certified Anti-Money Laundering Specialists)

Head office

Headquartered at 7300 N. Kendall Drive, Suite 500, Miami, FL 33156, USA.

Members

ACAMS has over 80,000 members worldwide, works in more than 200 countries and territories,

Vision & Mission

ACAMS' vision is to create a world where professionals can effectively combat financial crimes, ensuring a safer global financial system. Its mission is to empower members with the knowledge, training, and certifications needed to prevent money laundering and promote compliance, supporting efforts to protect financial integrity worldwide.

What is the eligibility?

Professional Experience: At least 40 hours of AML-related work experience in the past 12 months, or an equivalent combination of education and professional experience in the AML field.

Educational Background: While there is no strict educational requirement, having a background in law, finance, or business is helpful.

Who can do?

anyone who is interested to learn about following concepts can pursue Certified Anti-Money Laundering Specialist:

Money Laundering Fundamentals, AML Regulatory Frameworks, Know Your Customer (KYC) and Customer Due Diligence (CDD), Suspicious Activity Reporting (SARs), Risk Management, Compliance Programs and Best Practices, Sanctions and Global Regulations, Investigations and Enforcement.

individuals with the following designations:

Compliance Officers, Risk Managers, Auditors, Bankers and Financial Services Professionals, Law Enforcement and Regulatory Personnel, Legal Professionals, Consultants, Anyone Seeking to Transition into AML.

Course structure

CAMS: Certified Anti-Money Laundering Specialist

The training covers several important topics that AML professionals need to master, including:

Money Laundering Fundamentals

AML Regulatory Frameworks

Know Your Customer (KYC) and Customer Due Diligence (CDD)

Suspicious Activity Reporting (SARs)

Risk Management

Compliance Programs and Best Practices

Sanctions and Global Regulations

Investigations and Enforcement

Lecture Plan

Session 1: Introduction to Anti-Money Laundering (AML)

Learning Objectives: Understand what money laundering is and why it's critical to combat. Get familiar with key terminology, stages, and global laws.

Overview of Money Laundering and its impact on the global financial system.

The Stages of Money Laundering: Placement, Layering, Integration.

Financial Crimes and Terrorist Financing.

Key AML terminology.

Introduction to Global Regulatory Frameworks: FATF, GAFI, and other authorities.

Session 2: Legal and Regulatory Framework for AML

Learning Objectives: Understand global AML standards and regulatory requirements. Learn the key laws that shape AML compliance.

International AML Standards (FATF recommendations, UN resolutions, etc.).

Major AML Laws and Regulations: USA PATRIOT Act, Bank Secrecy Act, EU Directives.

Key definitions: CDD, EDD, KYC, PEP (Politically Exposed Persons).

Sanctions and Embargoes: OFAC and EU sanctions list.

Session 3: The Role of Financial Institutions in AML Compliance

Learning Objectives: Learn how AML programs are structured within financial institutions. Understand compliance roles and strategies for monitoring.

The AML Compliance Program in Financial Institutions

Roles of AML Officers and the Compliance Team

Risk-based approach: How to conduct risk assessments

Internal controls and monitoring systems

Employee training and fostering a compliance culture

Session 4: Customer Due Diligence (CDD) and Know Your Customer (KYC)

Learning Objectives: Understand the different levels of customer due diligence. Learn the importance of assessing and verifying customer identities.

What is Customer Due Diligence (CDD)?

Know Your Customer (KYC): Regulatory requirements and processes

Risk-based CDD: Tailoring checks based on risk levels

Understanding Politically Exposed Persons (PEPs)

How to manage Beneficial Ownership and Ultimate Beneficial Ownership (UBO)

Session 5: Detecting and Investigating Suspicious Activities

Learning Objectives: Learn how to identify suspicious transactions and how they are flagged. Understand the investigation and reporting process.

Identifying Red Flags in financial transactions

Use of Transaction Monitoring Systems (TMS) in detecting suspicious activity

Investigating Suspicious Activity and Transaction Analysis

Reporting obligations: Suspicious Activity Reports (SARs)

Session 6: International Cooperation in AML

Learning Objectives: Understand how international AML efforts align. Learn about the collaborative efforts in detecting and investigating money laundering across borders.

The role of international cooperation in fighting money laundering

Global entities: FATF, Egmont Group, and international AML networks

Cross-border AML collaboration between regulators and financial institutions

Sharing information with law enforcement and global authorities

Session 7: Financial Crimes, Terrorist Financing & Sanctions Compliance

Learning Objectives: Understand how terrorist financing and money laundering are connected. Learn about the regulatory landscape surrounding sanctions and embargoes.

Understanding the link between money laundering and terrorist financing

The role of sanctions compliance in AML

International sanctions programs and regulations

Key compliance challenges in sanctions screening

Session 8: Anti-Money Laundering Technologies

Learning Objectives: Learn about the cutting-edge technologies used in detecting money laundering. Understand how AI and blockchain are revolutionizing AML compliance.

Emerging AML technologies: Artificial Intelligence (AI), Machine Learning, Blockchain

The role of technology in detecting suspicious transactions

RegTech (Regulatory Technology) and its role in AML compliance

Future of AML technology and its impact on financial crime prevention

Session 9: Case Studies and Real-World Applications

Learning Objectives: Apply theoretical knowledge to real-life money laundering cases. Understand lessons learned from both successful and failed AML programs.

Real-world AML case studies: Understanding key cases (e.g., Danske Bank, Deutsche Bank)

Analyzing AML failures and successes

Key lessons from past money laundering investigations

Practical application: Designing an effective AML compliance program

Session 10: Exam Preparation and Review

Learning Objectives: Prepare effectively for the CAMS exam. Review key concepts and address any uncertainties.

CAMS Exam Format and Structure

Review of Key Concepts from all modules

Tips and strategies for test-taking

Practice exam questions and discussion

Q&A session for any remaining questions

Learning Methodology

Berkeley offers expertly developed learning materials tailored to meet participants' needs, ensuring comprehensive coverage of the syllabus and optimal exam preparation.

‣ Tailored Material: Guides are designed to cover the entire syllabus, offering full preparation and deep understanding.

‣ In-Depth Content: Unlike superficial outlines, our materials provide fully developed theories and concepts, equipping participants with complete knowledge.

‣ Strategic Study: We help participants prioritize study time by indicating the weight of each topic, allowing efficient focus on crucial areas.

‣ Difficulty Levels: Topics are labeled as "Awareness" or "Proficiency," guiding participants to allocate time based on the required depth of knowledge.

‣ Comprehensive Coverage: Our materials include detailed theory and a glossary of technical terms to clarify complex concepts.

‣ Effective Learning Techniques: Visual aids and memorization techniques ensure long-lasting retention, helping candidates succeed.

Berkeley’s methodologies equip participants with the essential knowledge and tools for both exams and future success.

Lectures

Our lecture plan integrates structured learning with interactive teaching methods, promoting engagement and collaboration. This approach ensures a comprehensive understanding of concepts, fostering critical thinking and practical application in real-world scenarios

Practice Session

Practice sessions offer hands-on experience through guided exercises, enhancing skills and reinforcing knowledge. This practical approach ensures mastery of concepts, promoting confidence and competence in real-world applications

Mock Examination

Mock examinations simulate real test conditions, providing valuable practice and assessment. This helps identify strengths and weaknesses, ensuring thorough preparation and boosting confidence for actual exams

Berkeley's performance standards

Evaluates and ensure the quality of the training program and all its deliverables. This is measured through the following indicators:
‣ Instructors' experience and style in presenting and explaining topics.
‣ Variety and balance of teaching methods (such as discussions, case studies, mock exams, and videos) used in the course to ensure retention and to match the learning objectives.
‣ Level of interactivity.
‣ Feedback from program participants.
‣ Full compliance with Institute standards and guidelines for preparation and study requirements and methodology.
‣ Progress reports from the training program provider.

What are the Exam Information?

Exam format & duration

* CBT (Computer Based Testing)

Part/Module	Exam format	Exam duration
CAMS: Certified Anti-Money Laundering Specialist	The exam consists of 120 multiple-choice questions.	3.5 hours

Exam Dates

The exam is offered year-round, allowing candidates to choose a convenient date and time.

Passing Criteria

The passing score is typically 75% or higher.

Exam Locations

Exams are administered through the worldwide network of Pearson Vue Testing Centers. Pearson VUE offers flexible options for candidates to take exams either at physical testing centers or remotely through OnVUE, its online proctoring solution.

Success Stories

“As a strong advocate for education and human development, I commend Berkeley for its exceptional commitment to empowering future leaders. The institution stands as a symbol of excellence, innovation, and opportunity. Students who walk its halls are nurtured with knowledge, values, and vision—qualities that contribute to building a stronger and more prosperous future for our nation.”- H.H. Shaikh Khalifa Al Hamid

Visit our Alumni

Alumni Benefits

‣ Exclusive Networking Events: Access invitations to industry-leading events and thought-leadership gatherings featuring renowned speakers.

‣ Monthly Updates: Stay informed with a newsletter highlighting the latest research, events, and activities from the school.

‣ LinkedIn Community Access: Join the Executive Education LinkedIn group for networking and professional development opportunities.

‣ Educational Discounts: Enjoy a 20% discount on open-enrollment programs and access to workshops focused on emerging trends.

‣ Global Alumni Network: Connect with a diverse alumni community through the Berkeley School’s online network and engage in country and interest groups.

Is It Worth the Investment?

AML Compliance Officers: Average Salary: $60,000 - $90,000 per year. Senior-Level Salary: In managerial or director roles, the salary can range from $100,000 - $130,000 per year.

AML Managers/AML Compliance Managers: Average Salary: $85,000 - $115,000 per year. Senior-Level Salary: Senior AML Managers, or those heading compliance departments, can earn $120,000 - $150,000 or more, depending on their experience and location.

AML Risk Managers: Average Salary: $80,000 - $120,000 per year. Senior-Level Salary: Senior AML Risk Managers can earn upwards of $130,000 - $160,000+ annually, especially in large financial institutions.

AML Investigators: Average Salary: $60,000 - $90,000 per year. Senior Investigator/Analyst: Experienced investigators in senior roles can earn between $95,000 - $120,000.

Compliance Directors/Head of AML: Average Salary: $120,000 - $180,000 per year. For more experienced professionals or those at large organizations, salaries can exceed $200,000 annually.

AML Consultants: Average Salary: $90,000 - $150,000 per year (depending on whether they work for a consulting firm or independently). Consultants who specialize in high-demand sectors or have significant experience can earn $160,000 - $250,000+.

Financial Crimes Enforcement & Investigation Roles: Average Salary: $75,000 - $110,000 per year. Senior Law Enforcement Professionals: Senior roles such as AML investigators at enforcement agencies can have salaries ranging from $120,000 to $150,000 per year.

What you earn

You will get a certificate of completion, which is highly reputed and accepted by employers.

Increased Job Opportunities

The CAMS certification opens up opportunities for higher-level positions in compliance, risk management, and financial crime prevention across industries.

Global Recognition

AML is a global issue, and the demand for compliance professionals is not limited to one region or country.

Career Advancement

Holding a CAMS certification positions you as an expert in the field of AML, often leading to faster career advancement. Professionals with CAMS are often considered for higher-level roles such as AML Manager, Compliance Director, Risk Officer, or Head of Compliance.

Related courses

FRM - Financial Risk Manager

The Financial Risk Manager (FRM) certification is a globally recognized credential awarded by the Global Association of Risk Professionals (GARP). It is designed for professionals in risk management, finance, and investment sectors, focusing on assessing, managing, and mitigating financial risks.

FAQ: Certified Anti-Money Laundering Specialist

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BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES

Certified Anti-Money Laundering Specialist