Overview
CAMS6-SG (IBF Level 2) Program is specifically for citizens and permanent residents of Singapore. This program is accredited by The Institute of Banking and Finance Singapore (IBF), and classified as IBF-STS Level 2. If the candidate fulfills all eligibility requirements and completes the program, they will be eligible for the IBF-STS Funding up to 90%.
Pricing
ACAMS Members
Non-Members
Candidate must have active ACAMS membership to register for CAMS6-SG (IBF Level 2) Program
Above program fees include Self-Study CAMS Package and ACAMS Singapore AML Regime Exam.
ACAMS Singapore AML Regime Exam
This exam focuses on Singapore MAS Notice 626 and Associated Singapore AML Regulations, as well as AML-related industry guidelines from the Association of Banks in Singapore.
Once you have registered and paid for the CAMS6-SG (IBF Level 2) Program Package, you will be provided with a Study Guide as part of your exam preparation (and study materials for the CAMS6 Exam) on the ACAMS LMS platform. You can also visit www.mas.gov.sg and www.abs.org.sg to prepare for the exam.
The exam is conducted in English, with a duration of 45 minutes.
Once you have passed, an e-Certificate will be sent to you within two weeks. No hard copy will be provided. You will also be able to earn four ACAMS Credits for your CAMS recertification.
Eligibility of Funding
IBF-STS Funding
In order to apply for the IBF-STS Funding, applicants MUST be Singapore Citizens or Permanent Residents and pass both modules: CAMS Exam (6th Edition, English Version) & ACAMS Singapore AML Regime Exam. Eligible applicants can get the IBF-STS Funding as below 1:
- Singapore Citizen (40 years old and above) 90% IBF-STS Funding
- Singapore Citizen (Under 40 years old) 70% IBF-STS Funding
- Singapore Permanent Residents 70% IBF-STS Funding
MAS has announced an Enhanced Funding Support for IBF-STS on 8th April 2020 to support workforce training during the economic contraction caused by COVID-19.
Non-Company Sponsored Candidates |
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Effective Date |
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Eligibility |
Singaporean / Singapore Permanent Resident | ||
Funding Quantum |
90% of training costs (CAMS6-SG Package -includes CAMS Certification Package and Singapore AML Regime Exam) | ||
IBF Credit |
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Training Allowance Grant
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Company-Sponsored Candidates |
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Effective Date |
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Eligibility |
Singaporean / Singapore Permanent Resident | ||
Funding Quantum |
90% of training costs (CAMS6-SG Package -includes CAMS Certification Package and Singapore AML Regime Exam) | ||
IBF Credit |
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Training Allowance Grant (TAG) 2 |
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Note:
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Applicant who passed 1st exam after 21st April 2017 and before 08th April 2020
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ACAMS is exam based. Claimable duration is 4 hours.
IBF-STS Funding Application
Once an eligible candidate has completed and passed the CAMS6-SG (IBF Level 2) Program, they can apply for IBF-STS Funding.
For Company-sponsored candidates: The candidate’s company is responsible for claims submissions to IBF via their company’s login access on the IBF portal.
For Non-company-sponsored candidates: Candidates should submit the funding request to ACAMS within 1 week from passing both exams. ACAMS will submit the claims on behalf of the candidate. Application is subject to review by IBF.
The usual disbursement timeline for Non-company sponsored funding application is approximately four to six months.
About IBF
The Institute of Banking and Finance Singapore (IBF) was established in 1974 as a not-for-profit industry association to foster and develop the professional competencies of the financial sector. IBF represents the interests of close to 200 member financial institutions including banks, insurance companies, securities brokerages, and asset management firms.
In partnership with the financial industry and training providers, IBF is dedicated to empowering members, promoting a high standard of excellence, and supporting the growth of the Asian financial industry –working hand-in-hand with both individual members and the industry at large.
About IBF-STS
Under the IBF Standards Training Scheme (IBF-STS), an IBF-accredited program is eligible for funding, subject to individual criteria.
Take the time to assess the suitability of the program and its relevance to your business role or activities.
IBF-STS provides up to 90% funding for direct training costs subject to a cap of SGD7,000 per candidate per program, provided all eligibility criteria are met.
For more information on funding, IBF Certification and Continuing Professional Development (CPD) requirements, please visit www.ibf.org.sg.
About IBF Level 2
A practitioner with IBFQ certification status is an experienced practitioner who has acquired applied knowledge and complex analytical skills for specialist or supervisory function. An IBF-certified practitioner is one who epitomizes the values of professional excellence, integrity, and a strong commitment to industry development.
CAMS6-SG Program is classified under IBF-STS Level 2. Practitioner who successfully complete the program and meet the relevant criteria may apply for IBF Certification. You may apply via https://www.ibf.org.sg/certification/Pages/Certification-Process.aspx.
For more about IBF certification and its benefits, visit https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx .