DEFINITION of 'Certified Anti-Money Laundering Specialist - CAMS'
A professional designation awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS) to anti-money laundering professionals who have 40 qualifying credits based on education, other professional certification and work experience, who pass the CAMS examination and who provide three professional references. Successful applicants earn the right to use the CAMS designation with their names, which can improve job opportunities, professional reputation and pay.
BREAKING DOWN 'Certified Anti-Money Laundering Specialist - CAMS'
The study program to become a CAMS covers the risks and methods of money laundering and terrorism financing; compliance standards for anti-money laundering and combating the financing of terrorism; anti-money laundering compliance programs; and conducting or supporting anti-money laundering investigations. Individuals with the CAMS certification may work as brokerage compliance managers, Bank Secrecy Act officers, financial intelligence unit managers, surveillance analysts and financial crimes investigative analysts, among with many other options