I don't want to take this test and have my job cover it.

What is the most cost-efficient way do this?

Unless I'm reading it incorrectly, doing it with ABA to include training could be upwards of $3,000?

Thanks.

I prepped for the CRCM exam by purchasing the Reference Guide to Regulatory Compliance and using the sample test questions at the end of each section to study. It aligned well with the test.

Thanks! I saw your post from last year after I posted this.

Any cheaper online prep classes as well?

If an auditor works for a big accounting agency and wants a CRCM designation, it'll pay. And you can get training from many sources, just try and look for references as to the quality of that training. I used the same Reference Guide as InFairness. Mine says it's the 1998 edition. I was an early adopter and back then there were fewer training options. But it worked for me on the first try.

The ABA is a lot about income. It still peeves me that they start billing me in October for dues that are owed in January.

Thanks everyone.

InFairness (or anyone), is it better to purchase the book or the ebook?

The ebook is well done and easy to navigate. I recommend it over the physical book.

Another anon here: but why would anyone want to take this test? In other threads on this site we've discussed that all these various vendor certifications from all the various vendors are basically made up out of thin air. If it was $500, hmmmm ok maybe, but $3,000??? Fuggidaboutit.

Another anon here: but why would anyone want to take this test? In other threads on this site we've discussed that all these various vendor certifications from all the various vendors are basically made up out of thin air. If it was $500, hmmmm ok maybe, but $3,000??? Fuggidaboutit.

People obtain certifications because it helps with their employment opportunities and because regulators, unofficially, like some of these certifications.

Copying this anonymous comment from an Aug 2023 thread on the topic (which was https://www.bankersonline.com/forum...hese-bsa-aml-professional-certifications):

I want to comment that regardless of the issuing entity, the concept of needing to take annual training and submit proof to that entity, is all a bit of a racket.

I look at it like this: if you earned your [whatever] certification in 2023, that fact is still true in 2026 and 2030 - even if you never "renew' (and pay $100 or $200 per year) to the issuing entity.

What they want, is a lifetime of fees from you. But that is not relevant to the fact that you took, and passed, their little programs one time.

I recommend being a lifetime learner in banking, and being sure to always get annual training courses under your belt, as a refresher and to stay current on new developments too. But that has nothing to do with the issuing org's desire for a lifetime of annual renewal fees.

I think it's entirely reasonable to list your certifications to examiners, and even on your resume, without ever once paying an annual renewal fee. Wording matters: "Earned [whichever] certification 2023" is a true statement forever - even without ever paying for renewal. But ACAMS knows that, and bans CAMS holders from using the CAMS designation in writing unless annual fees are "up to date."

That seems event more relevant if you, for reasons I could never justify, are considering getting one of these costly certifications out of your own pocket.

As was commented by ACBBank, these certs have a whole lot to do with "employment opportunities." In other words, if you're looking to switch banks, that's one time when your certifications being on your resume or online profile are going to seem to matter. If however you are not looking to switch banks, why would it matter?

If you are bank paying for your employees to have these certifications, why does it serve the bank to make it easier for your employees to change jobs to another bank? In my mind that job-switching tactic with certifications is at least 50 - 75% of the point of the certifications.

We offer the CAMS Certification for our AML personnel. Given the size of our team, we can drive a hard bargain and get a group discount. Also, training is one of the Five Pillars of an AML Program, so it needs to be addressed. You cannot just hand over a resume and hope that will be sufficient.

Personal opinion - the real value is the networking at these events. I can personally speak to the local NYC ACAMS events and there used to be some serious players in the NYC AML world who used to attend these gathering. This could lead to many different opportunities and attending these events has helped many professionals in different ways, including myself.

Like any specialized group, the value that you get from it often originates from the effort you put into it.

I used the ebook because it was quicker to get and easy to navigate.

Yep. They see them as a sign of the bank's commitment to professionalism and commitment to continuing education.

please include ISBN, thanks

Anon, who are you talking to?