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 IBD-STS Funding up to 90%.
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 eCertificate 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, or to help you meet the requirements of the CAMS Application.
Eligibility of Funding
In order to apply for the IBF-STS Funding, applicants MUST be either a citizen or permanent resident of Singapore, and pass both modules: the CAMS Exam (6th Edition, English version), and the ACAMS Singapore AML Regime Exam. Eligible applicants may receive IBF-STS Funding as indicated below:
- 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. Click here for more information.
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: ACAMS will submit claims on behalf of the candidate. Application is subject to review by IBF. Candidates should submit the funding request within 30 days of passing both exams. Sign in to submit an IBF-STS Funding Application.
ACAMS will submit the funding application to IBF on a quarterly basis. The usual disbursement timeline for IBF Non-company sponsored funding applications is about six to eight months.
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.
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 who successfully completes an IBF Level 2 and/or Level 3 program will earn IBF Advanced (IBFA) certification status. This practitioner is now entitled to use the qualification title, “IBFA”.
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.
For more about IBF certification and its benefits, visit www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx.