What does an AML investigator do?

What does an AML investigator do?

An anti-money laundering analyst is a professional who investigates and monitors financial activity and transactions that appear to be suspicious. They are also responsible for helping businesses comply with all anti-money laundering rules and regulations to prevent audits or money-laundering accusations.

What are AML skills?

The most common important skills required by employers are Mitigation, Data Analytics, Customer Service, MS Office, Accuracy, Risk Management and Due Diligence.

What is an AML compliance analyst?

An anti-money laundering (AML) analyst or officer basically investigates, monitors and manages suspicious financial activity.

How do you become an AML specialist?

Here are the steps to obtain an AML certification:

1. Earn a degree. Typically, AML specialists have at least a bachelor’s degree in finance, economics, financial management or a similar discipline.
2. Earn AML or banking experience.
3. Prepare for your ACAMS exam.
4. Pass the ACAMS or equivalent exam.
5. Apply for AML positions.

How does AML work?

To get this job, you’ll need a Bachelor’s degree or at least 3 years of experience in banking Risk & Compliance. A Bachelor’s degree in research, business, accounting or criminal justice will help you get the job.

Is ACAMS difficult?

It’s not a difficult exam, especially if you come from a securities compliance or regulator background, as much of the content is pretty intuitive. It’s a good designation to have if you are looking to work in AML and it’s internationally recognized.

What are the 3 steps in money laundering?

Money laundering is the process of making illegally-gained proceeds (i.e. “dirty money”) appear legal (i.e. “clean”). Typically, it involves three steps: placement, layering and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system.

What is concealing in money laundering?

Concealing or disguising criminal property is defined as concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.