Last Updated: November 25
Money laundering is a financial crime that fuels global terrorism, drug trafficking, and corruption. As financial criminals become more sophisticated, the demand for skilled professionals to stop them has skyrocketed.
The Certified Anti-Money Laundering Specialist (CAMS) credential is widely regarded as the “Gold Standard” in the compliance industry. It is the most recognized international certification for AML professionals. Whether you are looking to break into the industry or secure a promotion, passing the CAMS exam is the most effective way to prove your expertise.
We will discuss everything you need to know about the CAMS certification. You may register the exam at the official site acams.org
ACAMS (Association of Certified Anti-Money Laundering Specialists) is the world’s largest international membership organization dedicated to enhancing the knowledge and skills of AML and financial crime professionals.
CAMS is the certification issued by ACAMS. It demonstrates that a professional understands the risks of money laundering and the methods to prevent it, adhering to international standards.
The CAMS certification is recognized worldwide and is not focused on a single country. The course content is relevant to all countries of the world. To take the exam, you must have experience relevant to AML in the real world.
Yes. The CAMS certification is globally recognized. Unlike legal certifications that are bound to specific jurisdictions, CAMS focuses on international frameworks (like the FATF, EU Directives, and the Patriot Act) that influence banking systems worldwide. Whether you work in New York, London, Dubai, or Singapore, the CAMS credential is valid and respected.
You cannot simply pay and take the exam; you must qualify first. To sit for the exam, you need an active ACAMS membership and a minimum of 40 Qualifying Credits.
How the Credit System Works:
ACAMS calculates credits based on your education and professional experience:
Education:
Associate Degree: 10 credits
Bachelor’s Degree: 20 credits
Master’s Degree: 30 credits
JD or PhD: 40 credits
Experience:
10 credits for each year of full-time experience in AML or financial crime compliance.
Training:
Credits for attending ACAMS webinars, conferences, or other approved training (1 hour = 1 credit).
Example: If you have a Bachelor’s degree (20 credits) and 2 years of AML experience (20 credits), you have the required 40 credits.
Professional references are mandatory for all candidates. They are individuals who can vouch for your AML knowledge and experience. Your relatives and ACAMS staff cannot be your professional references.
The CAMS exam is notoriously tricky. It tests your ability to apply knowledge, not just memorize it.
How long should I study?
Most candidates spend 8 to 12 weeks studying, averaging 10 hours a week. If you are new to AML, plan for 3 months.
For preparation, time is not a constraint. You should give at least two to three hours per day while preparing for the exam if you are aware of the AML frameworks. For a person who is new to the AML domain, it can be much more than two to three hours.
You have to memorize a lot of factual content for the exam. Candidates who appear in the exam report that 20-30% of the questions require the memorization of content.
There is no negative marking in the CAMS exam.
Yes, you can take the exam in the following languages:
Can I retake the exam?
Yes, but it costs money (approx. $299 USD) and requires a waiting period:
Does the certification expire?
Yes. You must recertify every 3 years.
To recertify, you must:
The official study guide provided by the ACAMS consists of eight chapters. Chapter 1-6 has all the study material while chapter 7 has practice questions for the examination. Chapter 8 has guidance material and other documents. It is important that you study some additional topics which are mentioned below in the article.
Note: Older guides referenced 8 chapters. The current 6th Edition Study Guide is streamlined into 4 Chapters.
Chapter 1: Risks and Methods of Money Laundering and Terrorist Financing
Chapter 2: International AML/CFT Standards
Chapter 3: Anti-Money Laundering/Counter-Terrorist Financing Compliance Programs
Chapter 4: Conducting or Supporting the Investigation Process
Following tips will be helpful while taking the exam:
Following tips will be helpful while taking the exam:
To obtain the CAMS certification, you need to earn at least 75 points (out of 120) in the exam.
On the day of the exam, you have to bring a valid form of identification. You can bring your passport, driver’s license, or any form of government-issued ID.
The CAMS certification expires in three years. CAMS professionals can recertify after three years.
The recertification costs between $200 – $250 before the deadline. If you miss the deadline, you must pay $300 to recertify.
A CAMS certified is an expert in anti-money-laundering techniques and is aware of the market trends. Having this certification ensures improved work prospects and better salaries. A CAMS professional can work in the public and private sector as:
CAMS certification is a vital component of a successful AML career. Nowadays, large financial institutions have made CAMS a mandatory requirement for positions in the AML and CTF.
It is observed that a certified AML earns much more than a non-certified professional. On average, a CAMS professional earns $17 per hour or $80K per annum while the salary of non-certified professional ranges from $50K-$60K per year.
Yes, there are many alternatives to the CAMS certification:
CFCS is a new certification and is not globally recognized. CFE is beneficial for those who want to pursue their career as fraud investigators. CAMS is the only certification that is widely recognized as the standard in the anti-money-laundering certifications.
In the AML domain, the CAMS certification is by far the most prestigious credential. It is an effective tool in fighting crime and terrorism. A certified individual can easily identify how and where threats originate. Even though it requires a big investment but it is a valuable contribution to your career and will open many doors for success in financial institutions. Preparing for the exam will not be easy but you will certainly reap the benefits of the time you put into studying.
P.S. For latest update of the exam rules and policies please refer to the official exam organization at acams.org.
Holly have worked in the compliance field for over 15 years. She is now the senior editor in exam team.
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