A guide to help you with understanding the concept of CAMS
A Certified Anti-Money Laundering Specialist (CAMS) is a professional who is specialized at monitoring the money that comes from fraud or other crimes but has been exposed to complicated financial maneuvers to conceal its source. The job of a CAMS specialist is based from day to day on preventing such operations from slipping through the global banking system. The CAMS specialist is trained for money-laundering purposes to detect attempts to use U.S. financial institutions. CAMS specialists are all hired by banks, brokerages, major companies, and the federal government. Their work is also organized in accordance with the Bank Secrecy Act, a 1970 law requiring financial institutions to work together to prevent money laundering. Modern criminals, like everyone else, hide their cash in accounts, but it arrives there through a series of purposely compl...