Certified Anti-Money Laundering Specialist
With the moderate diversified development of Macao’s economy and
the promotion of the international competitiveness of the industry,
professional certification has become a general trend. In view of the
demands for CAMS (CAMS® , Certified Anti-Money Laundering
Specialist) is increased by many industries in the society, especially the
financial services business, the Talents Development Committee, guided
by the needs of the industry, and has continued to understand and master
the professional qualifications or certifications to promote the development
of the industry in Macao. Following the accounting professional
certificates, it has continued to explore whether the CAMS® can be in line
with overseas standards and requirements, to help promote the relevant
professional certification work, to enhance the competitiveness of the
industry development, and to establish a professional certification
mechanism in Macao gradually.
1. About the Association of Certified Anti-Money Laundering Specialists
(ACAMS® )
ACAMS® is the world’s largest professional organization of anti-
money laundering, and its CAMS® is highly respected by the industry.
ACAMS® is committed to promote the global professional knowledge,
skills and experience in the detection and prevention of money laundering.
It has more than 63,000 members worldwide, distributes in 175 countries
and regions, and joins with like-minded professionals from financial
institutions, regulators, law enforcement agencies and industries of
different sizes, to jointly establish the network to support the needs of
financial crimes prevention. ACAMS® has set up branches in Hong Kong,
Singapore, South India, Macau, Philippines and Australasia in the Asia-
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Pacific Region, and is building a larger branch network in Asia region.
2. About the Certified Anti-Money Laundering Specialist (CAMS®)
CAMS® is a golden standard in the anti-money laundering
certification, which is internationally recognized by financial institutions,
governments and regulators.
The compliance team with CAMS® has the following characteristics:
● To set up a team composed of anti-money laundering experts to
implement compliance culture from top to bottom.
● To demonstrate to regulatory and law enforcement authorities that they
are adopting a standardized risk-based approach to prevent money
laundering threats and financial crime risks.
● To meet mandatory anti-money laundering training requirements
through preparation and learning, and to meet continuous training
requirements through re-certification and advanced certification.
● To protect institutions from financial and reputational damage.
The professional association of anti-money launderers in Macau
promotes anti-money laundering, professional training and other work,
including promoting the professional level of anti-money laundering and
anti-terrorism financing in Macau to reach the international standards. As
of 31st May, 2018, there were 555 people in Macau who had passed the
ACAMS, a higher proportion than in the neighboring areas, with nearly
1,000 in Hong Kong, 1,000 in Taiwan and more than 1,000 in Singapore.
The number of members who have joined the Professional Association of
Macau Anti-Money Launderers and also as CAMS® members is 395. The
age distribution is as follows:
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Statistics of Effective “CAMS”
As of 31st May, 2018
Age Number (person)
24 years old or below 10
25-34 years old 154
35-44 years old 83
45-54 years old 109
55-64 years old 35
65 years old or above 4
Total 395
Source: Professional Association of Macau Anti-Money Launderers (data only include
members who have joined Professional Association of Macau Anti-Money Launderers
and also as CAMS® members)
3. Development Trend / International Integration
In recent years, people all over the world pay great attention to anti-
money laundering. In Macau, the Professional Association of Macau Anti-
Money Launderers is working hard for Macau’s anti-money laundering
work actively, and plans to introduce the large-scale Asia-Pacific Annual
Conference of Anti-Money Laundering and Anti-Financial Crime in
Macau, and to publicize anti-money laundering knowledge to the students
in the campus. The efforts of Macau SAR government and the private
sectors in preventing and combating money laundering, terrorist financing,
and the financing of the proliferation of mass destruction weapons were
mutually assessed by the international authority Asia / Pacific Group on
Money Laundering (APG) in 2017, and has passed and got an excellent
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score according to the FATF’s (Financial Action Task Force) international
standards of the anti-money laundering and anti-terrorist financing. In
many jurisdictions which have been evaluated, Macau SAR is one of the
regions that has the most comprehensive legal framework on anti-money
laundering and anti-terrorist financing.
In May 2018, the Professional Association of Macau Anti-Money
Launderers signed a contract with the Macau University of Science and
Technology, on the purpose of setting “Macau Examination Center of
CAMS”. In the future, the professional qualification obtained in the
examination center of CAMS in Macau is also internationally recognized.
The association is committed to bringing local anti-money laundering into
line with the international standards, establishing a risk management
system suitable for Macau’s financial situation. It has launched a course on
“looking at the international tax system and planning from the professional
perspective of the anti-money laundering”, in order to strengthen all kinds
of professional education and training, and to assist professionals in
maintaining the forefront level of combating money laundering and
terrorist financing.
4. The Examination of CAMS
The examination of CAMS must have 40 credits and 3 referees.
Credits can be obtained through educational background, relevant full-time
work experience and continuous learning or training related to financial
business professional certificates, such as: Certified Public Accountant
(CPA), Certified Purchasing Professional (CPP), Certified Compliance
Manager (CRCM), Certified Fraud Examiner (CFE), Continuing &
Professional Education (CPE), National Association of Securities Dealers
(NASD) series, etc.
CAMS is an online training course, and the ACAMS in the US will
provide relevant examination materials for a period of 6 months. You can
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make an appointment for the exam after finishing the course.
Five Simple Steps to Apply for CAMS Examination1
1) Purchase the membership of ACAMS and the package of CAMS.
2) Receive the learning package and start learning on your own.
3) Have you prepared for the examination? Please submit your
Application Form for the examination, all relevant certification
documents and professional recommendation.
4) Accept the exam reservation code, and make your own appointment
for the exam within six months.
5) Take the exam.
You can check your score immediately after the exam. The list of all
CAMS graduates will be posted on the official website of ACAMS:
www.acams.org
CAMS Qualification Re-certification 1
In order to ensure that the CAMS can receive sufficient and continuous
anti-money laundering training and update their anti-money laundering
expertise after being certified, all CAMS graduates must be re-certified
every three years and pay the re-certification fee. Within three years from
the date of obtaining the CAMS certification, 60 further credits must be
obtained, of which 12 credits must be obtained through participating in the
training of ACAMS. In addition, applicants can receive 2 credits in the
occupational ethics course.
5. Scope of Application
The holders are mostly engaged in:
1) Government regulation officials
2) Financial intelligence center officials
3) Law enforcement and control personnel
1 Source: Professional Association of Macau Anti-Money Launderers
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4) Anti-Money laundering commissioner, compliance commissioner
5) Bank
6) Credit commissioner
7) Risk management and control commissioner
8) Securities
9) Insurance
10) Lawyers
11) Accountant
12) Consultants and traders
13) Financial services business
14) Jewellers and precious metal dealers
15) Real estate
16) Company personnel of credit cards, cash cards, and prepaid cards
17) Gambling management, etc.
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