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For all English exams (i.e., CAMS, CGSS, CFCS, CCAS, Advanced CAMS-RM, FCI, and Audit), you will gain access to four sets of video study notes. With detailed flashcard-like study notes and audio, you can study while commuting, driving, or lying in bed with your eyes closed. This will help you prepare for the exam with ease. Each exam includes close to 3 hours of study notes.

Topics Covered

  • Risks to Individuals and Institutions

    • 1.1 Identify the risks to individuals for violations of AML (Anti-Money Laundering) laws.
    • 1.2 Identify the risks to institutions for violations of AML laws.
  • Consequences of Money Laundering

    • 1.3 Identify the economic and social consequences of money laundering.
  • Sanctions and Terrorism Financing

    • 1.4 Identify the purpose of sanctions being imposed (e.g., OFAC, UN, EU).
    • 1.5 Identify methods used to finance terrorism.
  • Methods of Money Laundering Across Various Sectors

    • 1.6 Identify methods of laundering money in banks and other deposit-taking institutions.
    • 1.7 Identify methods of laundering money in insurance companies.
    • 1.8 Identify methods of laundering money using broker-dealers, investment advisors, and the capital markets (e.g., securities, futures).
    • 1.9 Identify methods of laundering money in gaming (e.g., casinos).
    • 1.10 Identify methods of laundering money using dealers of precious metals or high-value items.
    • 1.11 Identify methods of laundering money in real estate.
    • 1.12 Identify methods of laundering money in bureaux de change and money services businesses.
    • 1.13 Identify methods of laundering money through lawyers, notaries, accountants, and auditors.
  • Red Flags and Emerging Risks

    • 1.14 Given a scenario involving trust and company service providers, identify the red flags indicating money laundering or financing terrorism.
    • 1.15 Given a scenario involving emerging risks associated with technology, identify the red flags indicating money laundering or financing terrorism.
    • 1.16 Given a scenario involving banks and other deposit-taking institutions, identify the red flags indicating money laundering or financing terrorism.
    • 1.17 Given a scenario involving insurance companies, identify the red flags indicating money laundering or financing terrorism.
    • 1.18 Given a scenario involving broker-dealers, investment advisors, and capital markets (e.g., securities, futures), identify the red flags indicating money laundering or financing terrorism.
    • 1.19 Given a scenario involving gaming (e.g., casinos), identify the red flags indicating money laundering or financing terrorism.
    • 1.20 Given a scenario involving dealers of precious metals and high-value items, identify the red flags indicating money laundering or financing terrorism.
    • 1.21 Given a scenario involving real estate dealers, identify the red flags indicating money laundering or financing terrorism.
    • 1.22 Given a scenario involving bureaux de change and money services businesses, identify the red flags indicating money laundering or financing terrorism.
    • 1.23 Given a scenario involving lawyers, notaries, accountants, and auditors, identify the red flags indicating money laundering or financing terrorism.
    • 1.24 Given a scenario, identify the red flags that indicate human trafficking.
    • 1.25 Given a scenario involving financial transactions offering anonymity, identify the red flags indicating money laundering or financing terrorism.
    • 1.26 Given a scenario involving lack of ownership transparency (e.g., shell companies, trusts), identify the red flags indicating money laundering or financing terrorism.
    • 1.27 Given a scenario involving the movement of money, identify the red flags indicating money laundering or financing terrorism.
    • 1.28 Given a scenario involving commercial transactions, identify the red flags indicating trade-based money laundering.
  • FATF Recommendations and Jurisdictional Awareness

    • 2.1 Identify the key aspects of the FATF 40 Recommendations.
    • 2.2 Identify the process FATF uses to raise awareness of jurisdictions with weak AML controls.
  • Global AML Principles

    • 2.3 Identify key aspects of the Basel Committee’s Customer Due Diligence Principles.
    • 2.4 Identify key aspects of the Wolfsberg Group’s AML Principles related to private banking.
    • 2.5 Identify key aspects of the Wolfsberg Group’s AML Principles related to correspondent banking.
  • International and National AML Regulations

    • 2.6 Identify the key aspects of the EU Directives on money laundering.
    • 2.7 Identify key aspects of the USA PATRIOT Act with extraterritorial reach.
    • 2.8 Identify key aspects of OFAC sanctions with extraterritorial reach.
  • Extraterritorial Impact and Regional Roles

    • 2.9 Given a scenario involving a non-US financial institution, identify the extraterritorial impact of the USA PATRIOT Act.
    • 2.10 Identify the key roles of regional FATF-style bodies.
  • Egmont Group Objectives

    • 2.11 Identify the key objectives of the Egmont Group.
  • Risk Assessment and Mitigation

    • 3.1 Identify the components of an institution-wide risk assessment.
    • 3.2 Given a scenario with unmitigated risks, identify the appropriate course of action to be taken.
    • 3.3 Given a scenario of institution-wide controls, record-keeping requirements, and other mitigating factors, identify how these components should be applied.
  • Training and Governance

    • 3.4 Given a scenario, identify the key aspects of delivering targeted training for different audiences and job functions.
    • 3.5 Given a scenario, identify key components of an AML training program.
    • 3.6 Identify the roles of senior management and the board of directors in addressing AML oversight.
    • 3.7 Given a scenario, identify the roles of senior management and the board of directors in addressing AML governance.
  • Customer Onboarding and Due Diligence

    • 3.8 Given a scenario, identify how customer onboarding should be implemented.
    • 3.9 Given a scenario, identify areas to increase the efficiency and accuracy of automated AML tools.
    • 3.10 Given a scenario, identify customers and potential employees that would warrant enhanced due diligence.
  • Transaction Monitoring and Suspicious Activity

    • 3.11 Given a scenario, identify the steps to trace funds through a financial institution.
    • 3.12 Given a scenario including general client behavior, identify suspicious behavior.
    • 3.13 Given a scenario including some suspicious client behavior, identify how the institution should respond.
    • 3.14 Given a scenario, identify red flags and pressures (internal and external) related to obscuring wire transfer information (e.g., beneficiary, originator).
    • 3.15 Given a scenario, identify red flags associated with transactions or use of accounts (e.g., cash transactions, non-cash deposits, wire transfers, credit transactions, trade financing, investment activity).
    • 3.16 Given a scenario including red flags associated with transactions or account activity, identify how the institution should respond.
    • 3.17 Given a scenario including red flags associated with employee activity, identify how the institution should respond to suspicious activity.
  • SAR/STR and Law Enforcement Interaction

    • 3.18 Given a scenario, identify situations where a SAR/STR should be filed.
    • 3.19 Given a scenario, identify how SAR/STR information should be protected.
    • 3.20 Given a scenario, identify how to respond to law enforcement or governmental requests.
  • Enterprise-Wide AML Management

    • 3.21 Given a scenario involving an institution with multiple lines of business and/or operating in multiple jurisdictions, identify key aspects of implementing an enterprise-wide approach to managing money laundering risk.
    • 3.22 Given a scenario, identify appropriate steps to comply with sanctions requirements.
    • 3.23 Identify sources for maintaining up-to-date sanctions lists.
    • 3.24 Given a scenario involving a relationship with a PEP, identify appropriate steps to mitigate the risk.
  • Program Reassessment and Adaptation

    • 3.25 Given a scenario, identify internal and external factors that could trigger a reassessment of the current AML program.
    • 3.26 Given a scenario, identify when and how to implement necessary program changes (e.g., policy/procedure changes, enhanced training).
    • 3.27 Given a scenario, identify the process to assess money laundering and sanctions risk associated with new products and services.
  • Escalation, Audits, and Regulatory Response

    • 3.28 Given a scenario, identify internal or external factors that should be escalated to management and/or the board of directors.
    • 3.29 Given a scenario, identify how to respond to AML audit findings and/or regulator findings.
    • 3.30 Given a scenario, identify the importance of ensuring the independence of an audit of the AML program.
    • 3.31 Given a scenario, identify an appropriate risk-based approach to AML audits.
  • SAR/STR Reporting and Documentation

    • 4.1 Given a scenario involving a high-profile SAR/STR, identify how to report it to management or the board of directors.
    • 4.2 Given a scenario, identify the appropriate manner to report a SAR/STR to authorities.
    • 4.3 Identify how to maintain and secure all supporting documentation used to identify suspicious activity.
  • Managing High-Risk Relationships

    • 4.4 Given a scenario, identify factors that indicate an institution should exit a relationship due to excessive money laundering risk.
    • 4.5 Given a scenario, identify factors that should be considered to keep an account open based on a law enforcement agency request.
  • Investigations and Responses

    • 4.6 Given a scenario where an institution is investigating a customer, identify the areas and/or records it should examine.
    • 4.7 Given a scenario involving a regulatory or law enforcement agency investigating a customer of the institution, identify the additional steps the institution should take.
    • 4.8 Given a scenario where the institution is being investigated by a regulatory or law enforcement agency, identify the actions the institution should take.
  • Information Sharing and Privacy Considerations

    • 4.9 Identify the factors that must be considered before institutions share customer-related information across and within the same jurisdiction.
  • Handling Internal AML Issues

    • 4.10 Given a scenario involving a senior-level employee engaged in potentially suspicious behavior, identify how to address the AML situation (e.g., board member, CEO).
  • Interviewing and Data Utilization

    • 4.11 Identify appropriate techniques that can be used for interviewing potential parties involved in an AML event.
    • 4.12 Given a scenario, identify available public source data and other sources that can be used in an investigation.
  • Law Enforcement Interaction

    • 4.13 Identify the methods law enforcement agencies may use to request information from an institution.
    • 4.14 Identify the types of information law enforcement agencies typically request from institutions during investigations.
  • Cross-Border Investigations and FIU Role

    • 4.15 Identify how authorities (e.g., FIUs, central banks, governments, regulatory bodies) can cooperate and provide assistance during cross-border money laundering investigations.
    • 4.16 Identify what a government FIU does and how it interacts with the public and private sectors.
    • 4.17 Identify the role of strict safeguards on privacy and data protection in AML investigations.

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