“Is it worth my time and money to get CAME?”
The short answer to your question is yes, CAME certification can be of great value to you if you are trying to pursue your career in compliance.
Certifications in today’s world derive value from the students completing the certifications. Even, CAME certification derives value because of its Globally Influential CAME Professionals. Indiaforensic which started in 2006, is probably the best financial crimes and compliance training academy in India. It also imparts training on the subject of forensic accounting and fraud investigations.
In India, there are certain organizations that require, or highly prefer, specified certifications such as CAME or CFAP. When the company is in the process of rolling out the investigation role throughout the organization. Bankers need CAME professionals when they are looking to control money laundering activities.
When is CAME Professional Required?
Whether the businesses are looking for Anti Money Laundering Investigator or an Anti Money Laundering Specialist, in India, CAME is preferred in the Top IT Companies working on compliance process resolutions for multinational banks.
In this case, if you have one of these certifications, you are in an excellent position to get hired.
Certifications have long been a mainstay of the financial system and professional credential like CAME is becoming a part of this education process. In the last few years, the demand for certification has soared due to various regulatory developments in India.
Law enforcement agencies fighting organized crime are flooded with money laundering investigations and need support from certified professionals to look into the bank accounts of the alleged illegitimate businesses.
The increased number of regulatory fines requires financial institutions to take action to curb the proceeds of crime coming into the banking system. Techniques of money laundering are constantly evolving and the money obtained from the criminal activity is disguised and deposited in the bank as the income of the legitimate business. Once the dirty money gets into the banking system it becomes clean. The amount of money that is deposited in the bank in the disguise of a legitimate business is growing significantly over a period of time.
Though there is a substantial number of certified professionals in the United States to combat money laundering, India still needs at least 100,000 Certified Anti Money Laundering Experts to equip itself to find out suspicious transactions.
What are the advantages of CAME?
Compliance certifications or CAME particularly have two main advantages.
First, and most importantly, the certification provides a framework by which compliance professionals can learn to understand financial transactions and gain a level of proficiency in specific issues such as identification of shell companies, understanding the provisions of the bank secrecy act, or financial action task force (FATF) or decoding the money laundering techniques associated with drug trafficking, etc.
Second, it provides the recipient with a credential showing they have a defined body of knowledge in a specific area.
Register for the CAME certification now
Hiring Managers look at Certified Anti-Money Laundering Expert from a typical perspective. If the person cares enough about his career to spend his time and money, pursuing knowledge and credentials in a specialized area of technical study, finding and signing up for classes, studying for an exam, and passing an exam then the person is a self-starter, follows through on planned activities, is of a professional mindset and has knowledge in a defined area of study.
Linkedin is one of the great tools to search who is completing the certifications and where are they placed. There are many professionals who proudly add the four letters CAME on their LinkedIn profiles to get more visibility. One can enter the keyword CAME on Linkedin to understand the student profiles.
Value of Certification
Earning professional designations provide numerous benefits to finance and audit professionals including improved career prospects and enhanced earning power. In order to find out the average salary of the Certified AML Experts, Indiaforensic studied the salaries of more than 6000 random AML Professionals in India. The experience of these professionals was less than 6 years but more than 1 year.
Out of these 6000 samples 1047 were qualified as CAME. The results of the research were an eye-opener.
The Average Salary of all the 6000 AML experts was Rs.4.75 lacs. But, when the sample of only Certified AML Experts was analyzed, the average salary was Rs.5.7 lacs. This also indicates that the Certified Anti Money Laundering Expert tag earns you at least 20% more salary than your non-certified peers.
