Course in Certified Anti-Money Laundering Specialist (CAMS) Exam Prep

The primary goal of the CAMS Certification preparation course is to provide a comprehensive overview of the key principles, regulations, and practical techniques for combating money laundering and financing terrorism within the healthcare industry. By the end of this course, participants will:

• Develop a strong understanding of CAMS certification requirements and exam structure.
• Learn the AML regulations and frameworks, including the latest ACAMS certification guidelines and industry best practices.
• Understand how to identify suspicious financial activities within healthcare systems, and how to assess and mitigate the risks associated with money laundering and terrorist financing.
• Acquire knowledge of AML typologies and how these specific patterns apply to healthcare-related financial transactions, from medical billing and insurance claims to pharmaceutical sales and cross-border transactions.
• Master the core principles of transaction monitoring, which is critical in detecting, preventing, and reporting suspicious activities.
• Understand the compliance obligations of medical professionals and healthcare organizations under AML rules, and learn how to implement robust anti-money laundering controls.
• Achieve CAMS certification and be recognized as a certified expert in anti-money laundering practices with global recognition.

This course is designed to ensure that participants are thoroughly prepared for the CAMS exam and will walk away with the confidence and expertise to apply AML practices within their healthcare institutions.

Target Audience

This CAMS Certification preparation course is ideal for medical professionals and organizational staff who are responsible for ensuring compliance with anti-money laundering regulations in their healthcare organizations. The course is especially valuable for individuals who wish to further their careers in anti-money laundering (AML) and achieve recognition through the CAMS certification. The following individuals will benefit from attending:

• Healthcare Executives and Senior Managers: Medical leaders and administrators who oversee the financial activities of healthcare institutions, ensuring compliance with AML regulations and protecting against financial crimes.
• Compliance Officers: Professionals responsible for implementing and maintaining compliance policies in healthcare settings. The course will prepare them to navigate complex AML rules and regulations.
• Financial Professionals in Healthcare: Accountants, auditors, and financial analysts in hospitals, clinics, and other healthcare institutions who need to detect and prevent money laundering and terrorism financing in financial transactions.
• Legal Advisors in Healthcare: Legal experts who assist healthcare organizations in ensuring they comply with AML regulations and understand the legal implications of CAMS certification and AML compliance.
• Risk and Internal Audit Professionals: Individuals involved in risk management and internal auditing of financial systems within healthcare organizations, ensuring proper monitoring and reporting mechanisms for AML activities.
• Healthcare IT and Fraud Detection Specialists: Professionals responsible for developing or implementing software and technology solutions used for AML transaction monitoring and fraud detection within healthcare systems.
• Doctors and Other Healthcare Practitioners: Medical professionals who handle patient payments and insurance claims and want to understand how AML laws apply to their financial transactions.

The CAMS Certification preparation course is also suitable for those wishing to become Certified Anti-Money Laundering Specialists, providing a solid foundation for

Introduction to Money Laundering and Terrorism Financing

• Understanding what CAMS certification is and why it is an essential qualification for professionals working in the anti-money laundering field.
• An introduction to money laundering and terrorism financing, how they impact the global financial system, and their relevance to the healthcare industry.
• AML frameworks and regulations, including the ACAMS certification process and the global standards set by FATF and other regulatory bodies.
• Key terms and concepts, such as suspicious activity reporting (SAR) and AML typologies, and how they apply to healthcare financial transactions.

The ACAMS Certification Process and Exam Preparation

• Detailed overview of the CAMS exam structure and CAMS passing score.
• Key exam topics and review of past CAMS exam questions.
• Study tips, resources, and guidance on how to prepare for the CAMS certification exam, including recommended ACAMS study guides and study resources.
• Understanding the CAMS certification cost, ACAMS exam fees, and how to register for the ACAMS exam.

Regulatory Frameworks for AML Compliance

• In-depth discussion on AML regulations and compliance obligations for healthcare organizations.
• Overview of AML laws such as the Bank Secrecy Act (BSA), FATF Recommendations, and local regulations that affect healthcare institutions.
• Importance of AML transaction monitoring and how to implement effective monitoring systems in healthcare settings.

Money Laundering and Terrorism Financing Typologies

• AML typologies specific to the healthcare industry: identifying money laundering risks in medical billing, insurance fraud, pharmaceutical sales, and international transactions.
• Case studies of suspicious healthcare transactions and how to detect and mitigate financial crimes in medical practices.
• Real-life examples of AML typologies in action and how to handle them within the healthcare sector.

Identifying and Reporting Suspicious Activity

• Best practices for identifying suspicious activities and the importance of AML transaction monitoring in medical transactions.
• How to create and enforce policies for reporting suspicious activities without violating tipping off regulations.
• Understanding the legal requirements for submitting Suspicious Activity Reports (SARs) and protecting patient confidentiality while complying with AML laws.

Implementing AML Compliance in Healthcare Organizations

• Designing and implementing a comprehensive AML compliance program in a healthcare setting, including risk assessments, internal controls, and employee training.
• CAMS certification requirements for healthcare professionals and institutions to ensure ongoing compliance with AML regulations.
• Establishing a culture of compliance within healthcare organizations to ensure adherence to ACAMS rules and AML best practices.

Review and Practice Tests

• A full review of all course materials and concepts.
• Practice exams to simulate the CAMS exam and assess readiness.
• Final preparation strategies and advice on how to approach the actual exam day.

Post-Exam Support and Certification

• Understanding how to maintain CAMS certification and earning ACAMS credits to continue professional development.
• Career opportunities for certified anti-money laundering specialists in the healthcare industry and beyond.
• Resources for ongoing learning and keeping up with changing AML regulations.