ACAMS Certified AML Specialist

Ever since the recommendations made in 1987 by the Basel Committee on Rules and Practices for the Verification of Banking Transactions, Luxembourg has been on the forefront of legislation in this field. Since 1993, training its staff in AML and TF is a legal obligation for all the institutions of the financial sector in Luxembourg. The House of Training has a long tradition of teaching training courses at different levels in this field and up to now the Institute is also the only one in Luxembourg to offer a complete preparation to the worldwide recognized CAMS (Certified Anti-Money Laundering Specialist®) examination.

By the end of the courses participants will :

• have a good understanding of the key elements and aims of laws and regulations, money laundering strategies, methods and techniques;
• have a sharp awareness of money laundering practices
• be able to implement a dynamic AML system including KYC and to understand due diligence
• be acquainted with AML best practices in leading international banks through procedures and supporting tools

Candidates are required to possess a sound knowledge of the fundamentals of AML and terrorism preventing (such as taught in the course "AML & TF: Foundation Level", or equivalent).
The Certified Anti-Money Laundering Specialist (CAMS®) programme comprises:

• the principal seminar: ACAMS Laws and Regulations (4 days)
• the ACAMS Exam Taking Techniques seminar (1 day)
• the ACAM Certification examination (4 hours)

Contents:

• Introduction to ACAMS and the Certification Exam
• Money Laundering Risks and Methods
  • What is money laundering: definition, knowledge criteria, three stages, effects
  • Money laundering methods through banks: electronic transfers, correspondent banking, payable through accounts, private banking, lending, credit unions
  • Trade price manipulation, Black Market Peso Exchange (BMPE), Hawala
  • Other money laundering methods: MSBs, credit/debit cards, cash & prepaid cards, corporate vehicles, gatekeepers, real estate, casinos, securities, insurance
  • Terrorism vs. other criminal acts
• International AML Standards
  • FATF: goals, membership, revised 40 Recommendations, other FATF initiatives
  • Regional FATF bodies: APG, CFATF, GAFISUD, MENA
  • Basel Committee: Customer Due Diligence (CDD) & Consolidated KYC
  • Wolfsberg Group: correspondent & private banking principles, beneficial owner
  • 4th EU Directive
  • United States laws
• Anti-Money Laundering Programs
  • Assessing risk: businesses, products
  • AML Programs: basic elements
  • Know Your Customer (KYC) program
  • Know Your Employee (KYE)
  • Suspicious activity red flags
  • Automated AML solutions
• Conducting and Supporting Investigations
  • Cooperation between financial institutions and law enforcement agencies
  • Conducting internal investigations
  • Cooperation between countries: MLAT, FIU, FATF 40 Recommendations
  • Setting up a Financial Intelligence Unit (FIU)
• Wrap up, Exam Taking Techniques and Questions & Answers
• Examination : Official computer-based examination organized in a specialized IT examination centre in Luxembourg.

After this training programme, participants will sit a 3.5-hour-examination in order to obtain their certificate.
Recognized worldwide by employers in both private industry and government and acknowledged by regulators and examiners, the Certified Anti-Money Laundering Specialist® (CAMS) credential denotes proven knowledge in the detection and prevention of money laundering.

Practical arrangements:

• ATTF can provide you with the list of the countries online proctoring ACAMS and you can check on ACAMS website to check the test centers (if there is one in your country)
• The exams are identical whether you take them online or in a test center.
  
• ACAMS will send an email confirmation of registration for the exam.

• The proposed exam date is part of the registration process with the House of Training. Any request to postpone registration for the examination is the responsibility of the candidate and does not give right to a refund. In such a case, the applicant must contact the examination center or ACAMS in order to reserve a new date and, if appropriate, pay the resulting fees.

• The examination results are communicated by ACAMS. If unsuccessful, we invite applicants to refer to the Applicant's Handbook or to contact ACAMS to resubmit the exam and pay the resulting fees (not included in the registration fees) .
• The examination will take place after the training after you have arranged a date checking on ACAMS website to take it in the examination center in your country or online.