CAMS EXAM GUIDE

CAMS EXAM PREPARATION HANDBOOK

INTRODUCTION
• This handbook has been specially designed to help you plan your CAMS study smartly and improve your chances of
passing the exam in one go. It’s important to be mindful of your own studying pattern and tailor your approach to
one that best suits you.
• The curriculum is divided into 4 chapters. For each chapter, we have listed out the key concepts you should learn
and top tips on how to approach the chapter. We hope this helps you prepare for and successfully crack the CAMS
exam!
• We would not recommend that you selectively study only the concepts mentioned here. These are meant to guide
you as to the more prominent areas from an examination perspective. No one can predict the questions that you’ll
face on the exam day. So don’t leave any stone unturned.
• We have also thrown some light on the coaching material available on our website www.camsexamguide.com
which can help you enjoy studying and ace the exam.

Cheers! Happy studying!

- The CAMS Exam Guide team

© 2020 www.camsexamguide.com
CHAPTER 1: RISKS AND METHODS OF MONEY
LAUNDERING AND TERRORIST FINANCING
Study Tips
• Three Stages in the Money Laundering Cycle – Understand the
Key concepts: 3 stages and identify which financial product can be used in
• Three Stages in the Money which stage.

Laundering Cycle • Methods of Money Laundering – the methods have been

categorised based on the type of organisation:
• Individual Accountability • Banks and Other Depository Institutions

• Methods of Money Laundering • Credit Unions and Building Societies

• Non-Bank Financial Institutions
• Terrorist Financing
• Non-Financial Businesses and Professions
• International Trade Activity
• New Payment Products and Services
• Corporate Vehicles
© 2020 www.camsexamguide.com
CHAPTER 1: RISKS AND METHODS OF MONEY
LAUNDERING AND TERRORIST FINANCING
For each product you need to be able to answer the following 4 questions:
 What is the product? – Understand the nature of the product and its features
 How can it be used for money laundering?
 In which stage of money laundering (Placement, Layering or Integration) can it be used. Here
remember that most products can be used in multiple stages.
 What are the indicators / red flags / risks of money laundering through this product?

Answering these 4 questions will help you answer scenario / application based questions on the exam. You
can expect a majority of such questions from this chapter.

© 2020 www.camsexamguide.com
CHAPTER 2 : INTERNATIONAL AML/CFT STANDARDS
Key Concepts
• Financial Action Task Force (FATF)
• Basel Committee
• European Union Directives on Money
Laundering
• Egmont Group of Financial Intelligence
Units
• The Wolfsberg Group
• Key US Legislative and Regulatory
Initiatives - USA PATRIOT Act and Office
of Foreign Assets Control (OFAC)
Study tips
• Financial Action Task Force (FATF) – Here don’t restrict yourself
to the limited material available in the study guide but read
the 40 recommendations (revised 2012). You can find the 40
recommendations on the FATF website
• European Union Directives on Money Laundering – the latest
directives are more relevant from an examination perspective.
• Pay special attention to the Key US Legislative and Regulatory
Initiatives as these are tested frequently.
• Most students find this chapter more challenging than the first
due to the various legislations covered. We recommend that
you give yourself time and read the chapter multiple times to
boost retention of the key legislations.
© 2020 www.camsexamguide.com
CHAPTER 3 : ANTI-MONEY LAUNDERING/COUNTER-
TERRORIST FINANCING COMPLIANCE PROGRAMS
• Key concepts:
• Assessing AML/CFT Risk, Risk Scoring and Risk
Identification
• The Elements of an AML/CFT Program, The
Compliance Function, Compliance Officer,
Training and Audit.
• Know Your Customer - Customer Due
Diligence and Enhanced Due Diligence
• Economic Sanctions, Sanctions List Screening
and PEP
• Suspicious or Unusual Transaction Monitoring
and Reporting
• Money Laundering and Terrorist Financing Red
Flags
Study Tips
• Generally, the students enrolling for the CAMS exam are from a
compliance background who have experienced working in an
organisation’s compliance function. As such they can easily
relate to the topics covered in this chapter. However, it’s
important to study the entire chapter well and not merely rely
on your knowledge of a compliance function since in the exam,
you’ll be tested on what an ideal compliance function should
look like (as explained in the Study Guide).
• The chapter ends with Money Laundering and Terrorist
Financing Red Flags. These are super important from an
examination perspective. We recommend reading these
multiple times and visualising each scenario so as to enable you
to answer application based questions. You should also have a
look at these on the day before exam day.
© 2020 www.camsexamguide.com
CHAPTER 4 : CONDUCTING AND RESPONDING TO
INVESTIGATIONS
Key concepts:
• The entire chapter is crucial from an
examination perspective.
Study Tips
• As you read through this chapter, it’s important
to think from the point of view of a compliance
officer who is in the midst of an investigation.
• Understand each topic from this perspective and
the do’s and don’ts in such scenarios.
• Pay attention to the sections on AML/CFT
Cooperation between Countries and Financial
Intelligence Units.
© 2020 www.camsexamguide.com
 SUCCEED AT THE CAMS EXAM IN ONE GO !
What we offer

FREE CAMS AML Mock Chapter wise tests to test Practice Exams to help
test and Evaluation to your concepts as you you get the feel of the real
help you understand study CAMS exam and evaluate
where you stand your level of preparedness

Simply logon to www.camsexamguide.com and sign up to access your FREE Mock Test and Evaluation!
Select the plan of your choice and study anytime, any place and on any device!

© 2020 www.camsexamguide.com