Certified Anti-Money Laundering Specialist - Explained
What is a Certified Anti-Money Laundering Specialist?
Written by J. Mance Gordon
Updated at April 18th, 2022
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Table of Contents
What is a Certified Anti-Money Laundering Specialist?What Does a Certified Anti-Money Laundering Specialist Do?What is a Certified Anti-Money Laundering Specialist?
A Certified Anti-Money Laundering Specialist (CAMS) is an award or professional title globally recognized by governments, regulators and all financial institutions around the globe. The Association of Certified Anti-Money Laundering Specialists (ACAMS) award students who have sat and passed their exams and meet other qualifications with a certificate. Individuals who are recipients of the certificates are certified professionals who have gone through the required training and have gained expertise on financial crime detection and other money laundering. CAMS is awarded to individuals who have shown strong commitment in fighting against money laundering in the financial system. Ultimately, recipients of CAMS must have earned 40 credits in terms of educational qualification, work experience and other professional certificates.
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What Does a Certified Anti-Money Laundering Specialist Do?
Professionals who are awarded the title of a Certified Anti-Money Laundering Specialist (CAMS) are those who have undergone a program on money laundering, financial crime detection, and financial terrorism. The study program was established by the Association of Certified Anti-Money Laundering Specialists (ACAMS). This program also takes students through launching of laundering investigations, anti-money laundering compliance programs, curbing money laundering and financial terrorism, among others. Individuals who have earned CAMS can use it when applying for jobs and professional positions with reputable companies. These individuals can work in the bank as Secrecy Act officers, they can work as financial crime investigators and analysts, financial compliance managers, among others. Government agencies and financial institutions all over the world recognize CAMS.