What is a 'Certified Anti-Money Laundering Specialist - CAMS'

A Certified Anti-Money Laundering Specialist (CAMS) is a professional designation awarded to those who pass the CAMS exam and meet certain qualifications. The designation is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS) to professionals who pass the exam, earn 40 qualifying credits based on education, other professional certification and work experience, and who provide three professional references. Successful applicants earn the right to use the CAMS designation, which can improve job opportunities, professional reputation and pay.

BREAKING DOWN 'Certified Anti-Money Laundering Specialist - CAMS'

The study program to become a Certified Anti-Money Laundering Specialist (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, along with many other options. Other advanced programs are also offered, covering audit practices and financial crimes.

ACAMS cooperates with government agencies, universities and other organizations to promote awareness of money laundering and other financial crimes around the world. Other organizations targeting money laundering include the Association of Certified Fraud Examiners and the Financial Action Task Force.

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