ACAMS Certified AML Specialist

Since the 1987 recommendations of the Basle Committee on rules and practices for the verification of banking transactions, Luxembourg has been at the forefront of legislation in this field. Since 1993, it has been a legal obligation for all financial institutions in Luxembourg to train their staff in AML and TF. The House of Training has a long tradition of providing training at various levels in this field and is the only institute in Luxembourg to offer a complete preparation for the globally recognised CAMS (Certified Anti-Money Laundering Specialist®) examination.

By the end of the courses participants will :

• have a good understanding of the key elements and aims of laws and regulations, money laundering strategies, methods and techniques;
• have a sharp awareness of money laundering practices
• be able to implement a dynamic AML system including KYC and to understand due diligence
• be acquainted with AML best practices in leading international banks through procedures and supporting tools

Candidates are required to possess a sound knowledge of the fundamentals of AML and terrorism preventing (such as taught in the course "AML & TF: Foundation Level", or equivalent).
The Certified Anti-Money Laundering Specialist (CAMS®) programme comprises:

• the Core Seminar: ACAMS Laws and Regulations (4 days)
• the ACAMS Exam Taking Techniques seminar (1 day)
• the ACAM Certification Exam(4 hours)

Contents:

• Introduction to ACAMS and the Certification Exam
• Money Laundering Risks and Methods
  • What is money laundering: definition, knowledge criteria, three stages, effects
  • Methods of money laundering through banks: electronic transfers, correspondent banking, accounts payable, private banking, loans, credit unions
  • Trading price manipulation, Black Market Peso Exchange (BMPE), Hawala
  • Other money laundering methods: MSBs, credit/debit cards, cash & prepaid cards, company vehicles, gatekeepers, real estate, casinos, securities, insurance
  • Terrorism vs. other criminal acts
• International AML Standards
  • FATF: objectives, membership, revised 40 Recommendations, other FATF initiatives
  • fATF: regional FATF bodies: APG, CFATF, GAFISUD, MENA
  • Basel Committee: Customer Due Diligence (CDD) & Consolidated KYC
  • Wolfsberg Group: correspondent & private banking principles, beneficial owner
  • 4th EU Directive
  • United States laws
• Anti-Money Laundering Programs
  • Risk Assessment: Businesses, Products
  • AML Programs: basic elements
  • Know Your Customer (KYC) program
  • Know Your Employee (KYE)
  • Suspicious Activity Red Flags
  • Automated AML solutions
• Conducting and supporting investigations
  • Cooperation between financial institutions and law enforcement agencies
  • Conducting internal investigations
  • Cooperation between countries: MLAT, FIU, FATF 40 Recommendations
  • establishing a Financial Intelligence Unit (FIU)
• Tools and technologies to Fight Financial Crime
• Review, exam techniques and questions & answers
• The exam: Official computer-based examination organised at a specialised IT examination centre in Luxembourg.

Évaluation:

At the end of this training programme, participants will sit a 3.5-hour-examination in order to obtain their certificate. This is the official, computer-based ACAMS examination which is organized in a specialized IT examination centre in Luxembourg.  The participants can either take their examen at the CSL or in remote version.
Recognized worldwide by employers in both private industry and government and acknowledged by regulators and examiners, the Certified Anti-Money Laundering Specialist® (CAMS) credential denotes proven knowledge in the detection and prevention of money laundering.

Address of the examination center:

CSL - Chamber of Employees Luxembourg 2-4 rue Pierre Hentges, L-1726 Luxembourg.

Practical arrangements:

• Once your application is approved and you have paid the fee, ACAMS will send an email with instructions on how to schedule your exam.
• Any request to postpone registration for the examination is the responsibility of the candidate and does not give right to a refund. In such a case, the applicant must contact the examination center in order to reserve a new date and, if appropriate, pay the resulting fees.
• The examination results are communicated by ACAMS. If unsuccessful, we invite applicants to refer to the Applicant's Handbook or to contact ACAMS to resubmit the exam and pay the resulting fees (not included in the registration fees) .
• The examination will take place in the morning OR the afternoon of the day indicated. You will be informed, at the latest, one week before the examination of your specific examination slot.

Autres informations:

All courses of this programme are held in English.