For the attention of:
We are pleased to update you on the following revisions to the CAMCO qualification, effective 2021. Kindly note that enrolments for the revised CAMCO qualification open on 7 December 2020.
1. Syllabus
The changes to the CAMCO syllabus are as follows:
Revised CAMCO Syllabus | ||
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Chapter | Updates | |
1 | Money Laundering and Terrorism Financing: Methods and Practices | a. Addition of Proliferation Financing (PF) b. Understanding the differences of Money Laundering (ML)/ c. Roles of FI to Combat Proliferation Financing (PF) d. Impact of Money Laundering (ML)/Terrorism Financing (TF)/Proliferation Financing (PF) |
2 | International Legal Framework on AML/CFT and International Standards | a. Addition of Mutual Evaluation b. Addition of Regional Bodies and its Role |
3 | Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001: A Practical Approach | a. Analysing the far-reaching impact of the law and enforcement b. The new trend in enforcing the law c. Investigations d. Dealing with Terrorists’ Properties |
4 | AML/CFT Governance | a. Incorporating New BNM’s Policy Documents b. Updating New Standard and Regulations c. AMLA Orders Significant to FIs |
5 | KYC Policy: Importance and Implementation | a. Customer Due Diligence (CDD) during On-Boarding b. Types of Customer and Documentation Verification c. Importance of CDD d. Risk Associated with Failure to Conduct Effective CDD e. CDD vs Simplified DD vs Enhanced DD f. Source of Funds and Source of Wealth Risk Based Approach (RBA) moved to Chapter 6; additional details on RBA |
6 | Risk Based Approach (RBA) | a. Analysing the RBA methodology b. RBA Factors c. RBA Guidance by FATF d. Rationale for RBA e. Documentation of the RBA Process |
7 | Suspicious Transaction Report (STR): Identifying, Investigating and Reporting Obligations | a. Reporting Obligations under Section 14 of AMLA b. Automated AML/CFT Transaction Monitoring System c. Expectations of FIED d. On-Going Monitoring Suspicious Transaction Report (STR) moved to Chapter 7 |
8 | Sanctions Overview | New Topic a. What are Sanctions, its Importance and Purpose b. Far-Reaching Effect of Sanctions |
9 | AML/CFT Compliance Programme | New topic a. What are the Components of Compliance Programme b. Regulations on Compliance Programme c. How to Implement Compliance Programme to Mitigate ML/TF Risks |
10 | ML/TF Typologies | a. ML Typologies in Various Sectors/Industries b. Emerging ML/TF Typologies c. Strengthening Risk Assessment in Combating ML/TF More depth covering various methods, challenges and concerns. |
2. Entry Requirements
Current CAMCO | Revised CAMCO |
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3 years of AML/CFT-related working experience | 2 years of compliance-related working experience; OR 1 year of compliance-related working experience if candidate possesses a recognised foundation-level certification in AML/CFT |
3. Assessment (effective July 2021 examinations)
Current CAMCO | Revised CAMCO | ||||||||||||||||
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4. Transition
A special examination sitting based on the current CAMCO syllabus and format will be arranged in March 2021 for current candidates who are unable to complete the qualification by the December 2020 examination.
If candidates fail the March 2021 examination, passes gained for the assignment component will be nullified and candidates have to start afresh under the revised CAMCO.
5. Key Dates
Current CAMCO | Revised CAMCO | ||
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Activity | Date | Activity | Date |
Resit examinations closing date | 29 January 2021 | Enrolment open date | 7 December 2020 |
Assignment release date | 4 February 2021 | First examination for Revised CAMCO | 1 – 31 July 2021 |
Special examination sitting date | March 2021 (exam date TBC) | – | – |
Final assignment submission date | 31 March 2021 | Final assignment submission date | 26 April 2021/ 18 May 2021 |
Results release date | 15 June 2021 | Results release date | 27 August 2021 |
Notes:
6. Fees
The fee structure for the revised CAMCO is similar to the current CAMCO. Kindly click here for more details on the fee structure.
Click here for the link to the Revised CAMCO FAQs.
For further enquiries, please do not hesitate to contact AICB’s Member Services team at enquiries@aicb.org.my or call 1300-88-6833 / 03-2095 6833 or ABS at camco@asianbankingschool.com.
Thank you.