CAMS-Audit case studies
CAMS-Audit · Put your knowledge to work in context.
The CAMS-Audit credential is aimed at anti-money-laundering professionals who audit or independently test an AML/CFT programme rather than run it. That means internal audit staff, compliance testing and quality-assurance teams, external consultants and regulators who need to judge whether a financial institution's controls actually work. The CAMS-Audit case studies are 5 cases and about 3,860 words.
1Crypto Custody Added, Residual Risk Falls: Auditing the Enterprise-Wide Risk Assessment
Ridgeline Bank, with about 8 billion in assets, began offering crypto asset custody to institutional clients nine months ago and now holds keys for 41 clients representing 600 million. The BSA officer builds the enterprise-wide money laundering risk assessment in a vendor tool: 14 risk factors, each scored 1 to 5 and weighted, aggregated into inherent risk, then reduced by control-effectiveness scores that the business line supplies.
766 words, about 4 min2Scoping a Lean AML Audit at a Cross-Border Payments Fintech
Northgate Payments is a seven-year-old fintech with three products: a domestic peer-to-peer wallet with 1.4 million users, cross-border remittance across 60 corridors, and merchant acquiring for 2,200 small merchants. It is supervised as a money services business and holds no bank charter.
773 words, about 4 min3A Tuned Structuring Threshold and 1,900 Closed Alerts
Cobalt Bank's monitoring system runs nine scenarios. The structuring scenario generated 62 percent of the 3,900 alerts raised in the prior year.
766 words, about 4 min4PEP Source of Wealth and an Approver Who Owns the Relationship
Meridian Private Bank, a US bank subsidiary, serves 340 relationships with a $5 million minimum in investable assets. Sixty clients are politically exposed persons, 22 of them connected to jurisdictions the bank's own country matrix rates high risk.
779 words, about 4 min5A Detection-Date Definition That Moves the SAR Deadline
Delta Community Bank files about 380 SARs a year. Its procedure defines detection date as the date an alert is escalated to the investigations unit, and the 30-day clock starts there.
776 words, about 4 min