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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:
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.
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.
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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.
Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf
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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.
| Section | Objectives |
|---|---|
| Topic 1: Customer Due Diligence (CDD) and KYC | - Enhanced due diligence for high-risk customers - Beneficial ownership and PEP screening - Customer identification and verification |
| Topic 2: Financial Crime Typologies and Risk | - Risk assessment methodologies - Sanctions and embargo compliance - Common money laundering typologies across industries |
| Topic 3: AML Compliance Framework | - Internal controls and governance - AML compliance program structure - Regulatory obligations and enforcement expectations |
| Topic 4: AML and CTF Fundamentals | - International AML/CTF standards and FATF recommendations - Stages and typologies of money laundering - Money laundering and terrorist financing concepts |
| Topic 5: Transaction Monitoring and Reporting | - Suspicious Activity Reports (SAR) / STR filing - Case management and investigation processes - Suspicious activity detection and monitoring systems |
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