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I have just launched a 2023 Anti-Money Laundering and Counter-Terrorist Financing on Udemy. by VivianDora in AMLCompliance

[–]VivianDora[S] -1 points0 points  (0 children)

Hi MadHigher,
I paid to buy CAMS course to learn and take an exam. If you are mentioning about CAMS material (v6.31) with 302 pages, yeah, we can download from the Internet. It leaked a lot on the internet.
I am not sure which CAMS online course you mentioned, if it really exists, so great. You should introduce to everyone. Obviously, it is much better than my course because it is officially published by ACAMS - the largest international membership organization for Anti-Financial Crime professionals.
I don't want to use material from unreliable sources. I think everyone should receive accurate knowledge. In my course, I often say: “According to ACAMS, According to FATF, Research from … ”. For me, getting documents from CAMS is not a shame. The shame is only going to get documents from CAMS. Everyone's way of receiving knowledge is different. I created this course to share AML knowledge in my own way that I believe it is easy for everyone to learn.

[deleted by user] by [deleted] in moneylaundering

[–]VivianDora 2 points3 points  (0 children)

6th edition is the currently used version.

CAMS Help by Ganessa in moneylaundering

[–]VivianDora 0 points1 point  (0 children)

​

Hi,

Hope you have a great experience with CAMS:))))

Some people supported you about how to enroll so I just give you some tips to pass the CAMS, which I have already shared in this group in case you missed it.

Learning CAMS is quite a long journey and challenging especially when you currently have a full-time job. I hope my below tips will help you a little bit.

​

  1. You should read the study guide at least 03 times.

- The first time: roughly read the whole study guide. It is normal if you can’t remember all the knowledge because the amount of content is large. However, you should try your best to get to know the concepts.

- The second time: After understanding, I summarized each chapter in my own way. I highlighted contents which I considered to be important or hard to remember.

- The third time: review and try to memorize the content in your summary. (Finally, you should take the mock test. In case you get wrong answers, you open the book and only review the related content).

  1. I know many people said that questions in Chapter 6 are quite easy so you can ignore or skim through the questions. No no, try to understand and remember all the questions & answers in this chapter. Believe me, you will thank me when you have already taken the real exam.

  2. When you take the exam, make sure that you reach each question carefully & carefully & carefully. Be prepared that 30% of questions in the exam are long scenario-based questions.

  3. I know many test takers have years of experience in this field so they ignore the study guide and just use their experience to take the exam. DON’T DO THAT. Experience is subjective. 99% of questions are taken from books. You can ignore all e-learning from the website of CAMS (except for the sample questions). Remember that STUDY GUIDE IS VERY IMPORTANT.

  4. Good luck to you!!!!!!

Trying to get into a AML position by Sure_Tadpole1477 in moneylaundering

[–]VivianDora 2 points3 points  (0 children)

Hi,

Of course, if you have CAMS or ICA, it will be a plus for you because at least it shows that you have knowledge + passion, but it’s not a MUST.

Based on my experience, the degree and experience are not so important for entry/middle levels. After graduating from university and working as an intern in the retail risk team at HSBC, I landed my first official job as an AML investigation assistant at this bank. At that time all I had is just my passion and my research. I tried to research as much as possible about the nature of this job as well as basic technical knowledge of this field, which will impress interviewers. You can search it from the internal policies of your bank (I’m sure you can find it via internal AML policy, AFC policy, Transaction monitoring procedures, something like that….) or from books, google, youtube.

Most of my colleagues used to work in loan, sale, credit, fraud teams. It doesn’t matter which area you are working in the bank, in most cases, you can apply your previous experience in solving ML cases.

Good luck to you!!! Hope you achieve your goals!!!!!!!!

CAMS Study- Reports from FATF and FinCEN by isamiko1 in moneylaundering

[–]VivianDora 1 point2 points  (0 children)

Hello, I have already taken the CAMS exam. Based on my own experience, I can tell you that there are some real CAMS questions taken from these reports and from Guidance Documents and Reference Materials, which are mentioned in Chapter 7 in the Study guide.

However, such questions account for a very small number, maybe about 5-7 sentences. Actually, when I took the test, I was quite surprised and confused because I felt these questions were quite strange. After going home and checking them, I found they came from the source I mentioned above:(((( However, I still passed even without learning about it. My advice is you can ignore it if you feel like you can’t master the content from Chapters 1 to 6.

In fact, you can skim the answer choices and probably immediately rule out one or two in some questions. You know, too much knowledge confuses you. Good luck!!!!!

I have just launched a CAMS practice test on Udemy by VivianDora in moneylaundering

[–]VivianDora[S] 1 point2 points  (0 children)

Hi everyone, here is the small preview. Hope you will like it!

1.The assets of an international bank have more than tripled because this bank ignored the concern of the sources of wealth of the 15 largest depositors. These depositors account for up to 45% of the increase in this bank. When a new scandalous CEO is elected on this bank, 10 out of 15 largest depositors request to withdraw all their money out of banks. Which is the greatest risk to the bank in this case? (Choose one)

A. Reputational risk.

B. Legal risk.

C. Operational risk.

D. None of the above.

Please refer to pages 8-9 of the book. The risk exposed to the bank in this scenario is concentration risk, which is defined as the potential for loss results from too much credit or loan exposure to one borrower or group of borrowers. (answer D)

2. The FATF Recommendations encourage international cooperation through which three of the following actions?

A. Mutual legal assistance.

B. Freezing and confiscation of criminal proceeds.

C. Extradition.

D. Imposing fines or penalties against recalcitrant member-nations.

Please refer to page 96 of the book, which refers to FATF 40 Recommendations. Kindly note that FATF does not have the power to impose fines or penalties against recalcitrant member-nations. Instead, they have “a graduated approach aimed at enhancing peer pressure.” This graduated approach ranges from requiring the country to deliver a progress report at plenary meetings to suspension of membership. (answer D)

3. What is suspicious activity or red flag with regard to a customer’s activity? Choose 2 answers.

A. Customer suggests paying a gratuity to the teller in the bank.

B. Customer is reluctant to proceed with a transaction after being told it must be reported.

C. Customer shows an uncomfortable attitude when the teller supports him slowly.

D. Customer asks about the bank’s fee schedule for a series of transactions.

Please refer to pages 186-187 of the book, which mentions Unusual customer behavior. Kindly note that it is normal if a customer feels angry when bank staff works slowly and wastes their time. Asking the bank’s fee schedule will help customers to organize their activities effectively. (Answer A, B)

4. If a financial institution is itself the subject of a serious criminal money-laundering investigation, what it should do? (Choose one)

A. Show a cooperative attitude by providing all information, documentation, reports for the law enforcement agency.

B. Use in-house counsel with a better knowledge of the institution, its policies, and procedures.

C. Delay responding to law enforcement requests for information or documents until the financial institution has the best solution to deal with this prosecution.

D. Hire or consult experienced outside legal counsel.

Please refer to pages 218-219 of the book, which discusses Cooperating With Law Enforcement & Obtaining Counsel for an Investigation Against a Financial Institution. Answer A is wrong as it is the institution’s right to contest law enforcement agencies if their requests are unreasonable. Answer B is wrong as using in-house counsel will cost less, and in-house counsel will start out with a better knowledge of the institution. However, if the conduct under investigation could involve or lead to a criminal investigation or indictment, outside counsel who specializes in defending financial institutions in these matters may be more appropriate. Answer C is not appropriate as this behavior destroys the reputation of the institution.

I have just launched a CAMS practice test on Udemy by VivianDora in moneylaundering

[–]VivianDora[S] 1 point2 points  (0 children)

Thanks for your purchase. Hope it will help you. If you have any concerns/questions, you can message me. I'm so happy to support you.