The Association of Certified Anti-Money Laundering Specialists has welcomed its 5,000 member mark before it celebrates its fifth anniversary. The global membership includes persons in 106 countries who work in anti-money laundering positions at financial institutions and government agencies.
Josh Kellam, Compliance Leader for GE Money in Dallas, became the 5,000th member when his application was accepted by ACAMS at its Miami offices. Kellam, who has worked in banking for 11 years and manages compliance for GE Money, plans to take the Certified Anti-Money Laundering Specialist examination this year.
“Knowledge is power in this business, and as a compliance officer my function is to identify and evaluate risk. Being better informed on AML issues and trends will help me do my job better. It is very important to get up to speed and stay current on AML regulations,” Kellam said.
ACAMS has become the premier membership association for professionals in the AML field. ACAMS has more than 2,700 public and private sector AML specialists who have earned the CAMS designation worldwide. The designation can be earned only by individuals who meet certain eligibility requirements, including experience, education and training, and pass a rigorous three-hour, proctored examination of 100 questions. The CAMS designation can only be used by persons who maintain a current ACAMS membership.
“Reaching this milestone of our 5,000th member marks a significant step in ACAMS history and demonstrates the increasing worldwide demand for specialized professionals in the AML field,” says John Byrne, CAMS, Chairman of the ACAMS Advisory Board. Byrne, who now serves as a top AML official of Bank of America in Washington, D.C., is a widely respected AML expert who led the American Bankers Association’s AML efforts for more than 20 years.
“The explosive growth of both our membership and our certified specialists is evidence of the serious attention regulators, financial institutions and other businesses are devoting to their AML efforts and education,” Byrne added.
Founded in 2002, ACAMS serves compliance officers, government regulators, and law enforcement agents who work in the anti-money laundering field by providing up-to-date information, education, career development and professional networking opportunities. ACAMS recently expanded its member services to include enhanced career resources for industry professionals. The association expanded the ACAMS Career Headquarters on its website at acams.org. That service allows members worldwide to post their resumes and employer-organizations to post available positions.
The CAMS designation is available to candidates who successfully complete an examination designed by industry leaders and by an independent testing firm. Administered throughout the year in several countries in six continents, the examination provides an objective measure of a professional’s knowledge of universal industry-leading practices, anti-money laundering standards, and other crucial areas in the field.
“The CAMS credential is increasingly becoming the gold standard in the industry,” observes Dan Soto, CAMS, the founding Chairman of the ACAMS Advisory Board.
“As legal responsibilities and government expectations have become more complicated, there is a greater demand for compliance officers and regulators who are skilled experts with the most up-to-date knowledge about regulations and industry practices. ACAMS training provides the best value-added education in AML and identifies the best qualified professionals to meet organizations’ compliance needs,” Soto added.
About ACAMS
The Association of Certified Anti-Money Laundering Specialists® (ACAMS®) is a member-based organization that serves as a platform for career development and professional networking for individuals in the anti-money laundering field. ACAMS offers resources for financial institutions and other businesses that help train, identify, and locate practitioners who specialize in money laundering control policies, procedures, and regulations.
Led by an advisory board of AML experts, ACAMS, which is headquartered in Miami, was created in 2002 by Alert Global Media, publisher of Money Laundering Alert, moneylaundering.com, and Spanish language lavadodinero.com.
For more information visit www.acams.org or www.acams.org/espanol.
