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Want to protect your finances and bank accounts from fraudulent activity? Take steps to become a certified AML compliance officer and anti-money laundering specialist with the Certified Anti Money Laundering Specialist (CAMS) course. This anti-money laundering training certification will teach you how to detect and assess suspicious money laundering activities that pose potential threats to your organisation.
This course is suitable for anyone who works in the financial, legal or real estate sector, as well as in roles that involve frequent cash transactions. You will explore the Anti-Money Laundering Act in detail, and the different stages of money laundering. You will also learn how to report AML and develop practical knowledge to be able to identify potential risks and counteract attacks.
Learning Outcomes of The Certified Anti Money Laundering Specialist (CAMS):
- Gain a full understanding of the definition of money laundering
- Learn how to assess risk and implement a risk-based approach for your business
- Understand what determines if a transaction is suspicious
- Learn how to detect and report suspicious money laundering activities
- Know how to comply with the Bank Secrecy Act and retain records of specific information
- Familiarise with the AML glossary of terms
- Be aware of the pitfalls of outsourcing and how to avoid them
- Ensure that your KYC (know your customer) information is kept up-to-date
Benefits of studying the Certified Anti Money Laundering Specialist (CAMS)
- Earn a free e-certificate upon successful completion.
- Accessible, informative modules taught by expert instructors
- Study in your own time, at your own pace, through your computer tablet or mobile device
- Benefit from instant feedback through mock exams and multiple-choice assessments
- Get 24/7 help or advice from our email and live chat teams.
The Certified Anti Money Laundering Specialist (CAMS) is delivered through our online learning platform, accessible through any internet-connected device. There are no formal deadlines or teaching schedules, meaning you are free to study the course at your own pace.
You are taught through a combination of
Online study materials
************************** Course Modules**************************
Certified Anti Money Laundering Specialist (CAMS)
Module 1: Introduction to the Course
- What is the purpose of this course?
- Who is this course for?
- What is the legal status of this course?
Module 2: Definition of Money Laundering
- What is money laundering?
- What is the legal and regulatory framework?
Module 3: Responsibility & Oversight
- What are the responsibilities of a business?
- How should sole practitioners implement these requirements?
- What are the responsibilities of Senior Management/Money Laundering Reporting Officer?
- How might the ‘MLRO’ role be split?
- What policies, procedures and controls are required?
Module 4: Risk Based Approach
- What is the role of the risk based approach (RBA)?
- What is the role of senior management?
- How should a risk analysis be designed?
- What is the risk profile of the business?
- How should procedures take account of the RBA?
- What is client risk?
- What is service risk?
- What is geographic risk?
- What is sector risk?
- What is delivery channel risk?
- Why is documentation important?
Module 5: Customer Due Diligence (CDD)
- What is the purpose of CDD?
- When should customer due diligence be carried out?
- How should CDD be applied?
- What happens if customer due diligence cannot be performed?
Module 6: Suspicious Activity Reporting
- What must be reported?
- When and how should a report be made?
- What is consent and why is it important?
- What should happen after an onward report has been made?
Module 7: Record Keeping
- Why may existing document retention policies need to be changed?
- What should be considered regarding retention policies?
- What considerations apply to SARs and consent requests?
- What considerations apply to training records?
- Where should reporting records be located?
- What do firms need to do regarding third-party arrangements?
- What are the requirements regarding the deletion of personal data?
Module 8: Training and Awareness
- Who should be trained and who is responsible for it?
- What should be included in the training?
- When should training be completed?
Module 9: GLOSSARY
- Definitions of Anti-Money Laundering Terms
Module 10: Legislative Summaries – Proceeds of Crime Act 2002
- Different Sections of the Act
Module 11: Outsourcing, Subcontracting and Secondments
- Outsourcing and subcontracting arrangements
- Secondees and those temporarily working outside the UK
- Reporting requirements for subcontractors and secondees
Module 12: Client Verification
- Client identification and verification
- Source of wealth and source of funds
- Private companies/LLPs
- Listed or regulated entity
- Government or similar bodies
Module 13: Decisions and Risk Factors
- Should You Report to the MLRO?
- As the MLRO, should you report externally?
- Checklist: Essential Elements of a SAR
- High risk factors
- Low risk factors
Upon successful completion of the course, you will be able to obtain your course completion e-certificate free of cost. Print copy by post is also available at an additional cost of £9.99 and PDF Certificate at £4.99.
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