ACAMS CAMS - Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)

Reporting entities are prohibited from disclosing to clients or third parties that a suspicious activity report (SAR) has been filed or that an investigation is ongoing

Reporting entities can share general information about suspicious activities internally within the organization without compromising confidentiality

Reporting entities must inform their clients if a suspicious activity report (SAR) has been filed, as part of maintaining transparency in customer relations

Reporting entities are allowed to discuss suspicious activities with clients if it helps clarify a situation before submitting a suspicious activity report

Wolfsberg Group

Transparency International

Financial Action Task Force (FATF)

Tax Justice Network

include all documents or records that assisted the Fl in making the determination that the activity required a filing.

always be limited to account name, account details, and transaction records.

have written policies and procedures to maintain supporting documentation.

be saved in a single separate file with hard copies stored in a fireproof cabinet.

certain contractors may receive preferential treatment, allowing them opportunities to inflate margins during the tender process

unsuccessful bidders are informed of decisions and provided detailed justifications for awarding the contracts

procurement and contracting processes involve the management of the tender process, which may lack sufficient oversight

bids are solicited and disseminated to a wide audience through advertising and other channels.

The family members and close associates of PEPs may be involved in illicit activities.

PEPs are granted unlimited credit and financial immunity under international banking regulations.

PEPs may exploit embassy activities to conceal bribery and corruption transactions.

PEPs can have illegitimate fund sources but are legally protected from having their accounts closed for activities outside a bank's risk appetite.

The ratio of true positives to false positives generated by the automated monitoring system

The number of money laundering alerts generated by the watchlist screening system

The number of high-risk customers onboarded each month

The number of clients exited for commercial reasons

Establishing risk controls

Assessing risk controls

Ongoing risk monitoring

Conducting a risk assessment

Cloud-based deployment

Configurable reporting

Fully integrated artificial intelligence (AI)

Ability to build, iterate, and test rules

collaborating with law enforcement agencies, financial institutions, and other stakeholders to detect and prevent Illicit financial activities.

conducting examinations of financial institutions to ensure compliance with anti-money laundering regulations.

engaging in providing financial services, including banking and investment activities, to the public and private sectors

facilitating the exchange of information between the public and private sectors.

enacting legislation regarding the operations of financial institutions.

KYC analyst

Senior management

Relationship manager

Enhanced due diligence compliance officer