Certified Anti-Money Laundering Specialist (CAMS)

Certified Anti-Money Laundering Specialist (CAMS),

Definition of Certified Anti-Money Laundering Specialist (CAMS):

  1. Modern criminals stash their cash in banks, like everyone else, but it arrives there via a series of financial transactions that is deliberately complex in order to conceal its origins. Through further manipulation, the money is then made available to the criminal from a source that appears to be legitimate.

  2. A title earned from the Association of Certified Anti-Money Laundering Specialists. A professional becomes certified by earning 40 credits. This is done through work experience, education, passing the CAMS examination, and providing three references. CAMS programs address terrorism financing, anti-money laundering, compliance programs, and anti-money laundering investigations.

  3. A Certified Anti-Money Laundering Specialist (CAMS) is a professional who is skilled at tracking cash that originates in fraud or other crimes but has been subjected to complex financial maneuvers in order to obscure its origins. From day to day, the work of a CAMS professional is focused on preventing such activities from slipping through the global banking system.

How to use Certified Anti-Money Laundering Specialist (CAMS) in a sentence?

  1. The CAMS professional is trained to spot attempts to use U.S. financial institutions for money-laundering purposes.
  2. Banks, brokerages, large corporations, and the federal government all employ CAMS professionals.
  3. Their work is often structured as compliance with the Bank Secrecy Act, a 1970 law that requires financial institutions to cooperate in the fight against money-laundering.

Meaning of Certified Anti-Money Laundering Specialist (CAMS) & Certified Anti-Money Laundering Specialist (CAMS) Definition