I am studying for my CAMS and was wondering if anyone has advice on an easy way I can study these three listed in the subject? I keep getting them confused. I was wondering if there is a "key" word that would help when I see a definition to know which it belonged to?

Any other advice would be greatly appreciated on how or what to focus on for the exam.

Thanks!

I think it may help if you know the purpose, membership and how each organization impacts the AML/CFT/Sanctions world. When I was studying for my CAMS, I used each organizations website and the material including within each site to study for the exam.

The FATF is primarily known for their "40 recommendations" related to AML/CFT. Their website is here:

http://www.fatf-gafi.org/topics/fatfrecommendations/documents/fatf-recommendations.html

The Wolfsberg Group consists of various large FI's and are known for the Wolfsberg Principles on Correspondent Banking. Their website is here:

http://www.wolfsberg-principles.com/

The Basel Committee has issued guidance on how banks should include risks related to money laundering and financing of terrorism within their overall risk management framework. Their website is here:

http://www.bis.org/publ/bcbs275.htm

I hope this helps. If you have any other specific questions, feel free to shoot me a PM. Good luck.

Thank you! I will take a look at those links

Can I add, know what the 40 FATF recommendations are, by number. You don't have to be able to reel off the entire recommendation, but be able to say say "1 is risk assessment, 10 is CDD, 20 is STRs....." I would tell them over to myself at night. It came in very helpful on the exam.

Thank you1