Additional Study Resources

Appendix Additional Study Resources This section cites several CAMS Examination supporting documents and reference materials. It also suggests websites and periodicals that offer additional supporting material. Several international bodies that are focused on AML/CFT have published valuable guidance documents and reference materials that are helpful in preparing for the CAMS Examination. For study purposes, generally the reference documents have an introduction, putting the material in context and, in some cases, describing the methodology behind their production. For example, in each of FATF’s RiskBased Approach Guidance documents, the purpose of the risk-based approach is explained in the opening chapter. The core material then describes the specific AML risks that are the focus of the guidance and describes the best practices for mitigating those risks. It is this core material that is examined in the CAMS Examination. Two documents above all others (FATF’s 40 Recommendations and Interpretive Notes) should receive particular study from CAMS candidates. It is highly advised to download the free .pdf versions available from the FATF website to keep with your other CAMS study materials. The 40 Recommendations are the basic elements of every AML regime at the national and financial institution levels and most of the other materials build off specific aspects of this foundation. Guidance documents and reference materials • • United Nations: o Model legislation on money laundering and financing of terrorism o UN Security Council Resolutions on Terrorism o United Nations Convention against Corruption (2003) o United Nations Convention against Transnational Organized Crime (Palermo Agreement) (2000) European Union: o Fifth EU Money Laundering Directive: Directive (EU) 2018/843 o Fourth EU Money Laundering Directive: Directive (EU) 2015/849 o Cash Control Regulation: (EU) 2018/1672 o Regulation on information on the payer accompanying transfers of o Third EU Directive 2005/60/EC of the European Parliament and of the o Joint Action (1998) on money laundering and the identification, tracing, funds: (EU) 2015/847 Council freezing, seizing, and confiscation of instrumentalities and the proceeds from crime, and its subsequent amendment • o Regulation (2001) on restrictive measures for combating terrorism, and o Framework Decision (2000) on cooperation among European FIUs its amending Regulation 2003 United States: o The Anti-Money Laundering Act of 2020 (AMLA) o USA PATRIOT Act 2001 o Bank Secrecy Act 1970 o FinCEN • CDD Final Rule and FAQs • Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies 2019 • Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern o o • • • Advisories, notices, bulletins, and fact sheets • Frequently asked questions (FAQs) US Department of the Treasury • Terrorism and money laundering risk assessments • Money laundering threat assessment • Best practices • Industry specific guidance on the risk-based approach FINRA • Notices and guidance • Frequently asked questions (FAQs) United Kingdom: o The Money Laundering and Terrorist Financing (Amendment) o JMSLG: The Money Laundering, Terrorist Financing and Transfer of o The Terrorism Act 2000 and Proceeds of Crime Act 2002 o Proceeds of Crime Act 2002 Regulations 2019 Funds (Information on the Payer) Regulations 2017 Basel Committee o Sound Management of Risks Related to Money Laundering and o Sound Management of Risks Related to Money Laundering and Financing of Terrorism: Revisions to Supervisory Cooperation, 2020 Financing of Terrorism: Revisions to Correspondent banking Annex, 2017 o General Guide to Account Opening, 2016 o Sound Management of Risks Related to Money Laundering and Financing of Terrorism, 2016 • • o Due Diligence and Transparency Regarding Cover Payment Messages o Compliance and the Compliance Function in Banks, 2005 o Initiatives by the BCBS, IAIS and IOSCO to combat money laundering o Consolidated KYC Risk Management, 2004 o General Guide to Account Opening and Customer Identification, 2003 o Sharing of Financial Records between Jurisdictions in Connection with o Customer Due Diligence for Banks, 2001 Related to Cross-Border Wire Transfers, 2009 and the financing of terrorism, 2005 the Fight against Terrorist Financing, 2002 Egmont Group o FIU’s in Action: 100 Cases from the Egmont Group o ECOFEL: Financial Investigations into Wildlife Crime, 2021 o Customs: FIU Cooperation Handbook, 2020 o Public Bulletin: Combatting Online Child Sexual Abuse and Exploitation o Public Bulletin: Money Laundering of Serious Tax Crimes, 2020 o Egmont Group Bulletin: Professional Money Laundering Facilitators, 2019 through Financial Intelligence, 2020 Financial Action Task Force (FATF): o Mutual Evaluation Reports o High-Risk and Other Monitored Jurisdictions o The Forty Recommendations and Interpretative Notes o Virtual Assets Red Flag Indicators of Money Laundering and Terrorist o Money Laundering and the Illegal Wildlife Trade, 2020 o FATF/Egmont Trade-based Money Laundering: Trends and o The FATF Methodology for Assessing Compliance with the FATF Financing, 2020 Developments, 2020 Recommendations and the Effectiveness of AML/CFT Systems, 2019 • • o Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset o Best Practices on Beneficial Ownership for Legal Persons, 2019 o Money Laundering and Terrorist Financing Risks, 2019 o Terrorist Financing Risk Assessment Guidance, 2019 o Financial Flows from Human Trafficking, 2018 o Guidance for a Risk-Based Approach: Life Insurance Sector, 2018 o Risk of Terrorist Abuse in Non-Profit Organisations, 2014 o Virtual Currencies: Key Definitions and Potential AML/CFT Risks, 2014 Service Providers, 2019 Wolfsberg Group: o Wolfsberg correspondent banking due diligence questionnaire o Guidance on Customer Tax Evasion, 2019 o ICC and BAFT Trade Finance Principles, 2019 o Guidance on Politically Exposed Persons (PEPs), 2017 o Anti-bribery and Corruption (ABC) Compliance Programme Guidance, o Anti-Money Laundering Principles for Correspondent Banking, 2014 o Guidance on Mobile and Internet Payment Services (MIPS), 2014 o Anti-Money Laundering Principles for Private Banking, 2012 o Statement on the Suppression of the Financing of Terrorism, 2002 (Wolfsberg CBDDQ) 2017 FATF-style regional bodies typology reports Other websites with helpful AML material CAMS qualified professionals will routinely consult the websites of their home regulators. However, there are other websites that contain helpful AML materials. Just copy and paste the title into your browser window to find the most recent URL. • ACAMS • Australian Transaction Reports and Analysis Centre (AUSTRAC) • Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) • International Monetary Fund • UK Financial Conduct Authority • U.S. Financial Crimes Enforcement Network home page • U.S. Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act/Anti-Money Laundering InfoBase • U.S. Office of Foreign Assets Control (OFAC) • World Bank AML-related periodicals • ACAMS Today A quarterly magazine for ACAMS members providing stories from the AML workplace and current global issues and developments on money laundering. • ACAMS MoneyLaundering.com A monthly newsletter focusing on current global, legal, regulatory and enforcement issues and other money laundering-related news, analysis and guidance. • Money Laundering Bulletin A UK-based newsletter published 10 times per year addressing issues on money laundering practices, policing efforts and the anti-laundering systems of various industries. • ABA Bank Compliance The American Bankers Association’s monthly magazine dealing with legal, regulatory and compliance issues and information.