What is the Certified Anti-Fraud Specialist (CAFS) Certification?

CAFS is the new ACAMS anti-fraud certification that addresses the unique challenges faced by banks and non-bank financial institutions. Earning this specialist certification means a professional has the knowledge necessary to detect and investigate fraud and implement effective controls to minimize losses and ensure the protection of customer assets.

What are the core topic areas covered by CAFS?

• Building a fraud risk management program
• Fraud detection and analytics
• Fraud investigations
• Technology to combat fraud

These core topics are covered in the exam blueprint and the study material.

Is CAFS focused on general fraud or mainly accounting fraud?

CAFS does not address accounting fraud. CAFS directly addresses the unique challenges of banks and other financial institutions, such as authorized push payments (APPs), first/second/third party fraud, and the controls required to look after client assets.

How can CAFS help professionals in the early stages of their career?

CAFS can help professionals specialize and expand their knowledge and skills in an area of growing threat to banks and other financial institutions. It can provide professionals early in their careers with the necessary expertise, credibility, and recognition to excel in the field of fraud prevention and detection.

How can CAFS amplify my knowledge and expertise after CAMS?

A CAMS Certification combined with the CAFS Certification will diversify your knowledge and expertise in combating financial crimes. It will equip you with a broader set of skills, deeper insights, and increased career opportunities in the adjacent discipline of fraud identification, prevention, and mitigation.

What study materials are included in the CAFS exam package?

The CAFS exam package includes e-learning courses, a study guide, flashcards, review questions, post-assessments, and a practice exam. You can choose to purchase an optional Virtual Classroom Series upgrade, which consists of six, two-hour live online classes.

Can I access the study materials after the course is completed?

You may download the study guide, which is available in PDF format, to refer to after you have completed CAFS. Please note that once you have completed the CAFS exam, the study materials will no longer be available for you to access via the learning management system (LMS).

In what languages is the CAFS Certification exam available?

The CAFS exam is currently only available in English.

Is the CAFS exam content updated to reflect industry changes?

ACAMS regularly updates all of its certification exams, including the Certified Anti-Fraud Specialist Certification, to keep up with the evolving anti-fraud landscape. These updates ensure the certification content remains current and in line with industry trends, regulations, emerging fraud schemes, and best practices.

Who is the CAFS Certification for?

The CAFS Certification is for professionals and organizations who want to meet and demonstrate a specialized standard of knowledge in the detection and investigation of fraud, and who want to implement effective controls to minimize losses and ensure the protection of customer assets. It is suitable for professionals working in financial institutions and NBFIs.

How can the CAFS Certification help advance my career?

ACAMS certifications are internationally recognized by organizations, regulators, and governments. By obtaining the CAFS Certification, you demonstrate a strong understanding of how to help detect, investigate, and mitigate fraud to minimize your organization’s losses and safeguard customers – a valuable skillset in today’s rapidly evolving fraud landscape. The CAFS designation can also be used to evidence your expertise to your current and future employers.

Who is eligible to take CAFS?

Candidates must have an active ACAMS membership and present evidence of 40 eligibility credits to be eligible to take CAFS, similar to ACAMS’ other specialist-level certifications.

Will the CAFS study materials give me ACAMS credits?

Yes, the training components of the program are worth 17 ACAMS credits and the Virtual Classroom Series provides an additional 12 ACAMS credits. Those credits can be used toward the eligibility requirements to take the CAFS exam.

Once I am CAFS certified, will I be eligible to apply for CAMS, CGSS, or CCAS?

Yes. Upon completing the CAFS Certification, you will have been awarded 40 ACAMS credits. This means you have enough eligibility credits to apply for CAMS, CGSS, or CCAS.

I am CAFS certified. Am I eligible to apply for the Advanced CAMS programs?

You must have achieved the CAMS Certification before you can take an Advanced CAMS program.

Is there an application?

Yes, there is an online application. Candidates are required to have an active ACAMS membership and present 40 eligibility credits. These credits can be obtained through education, professional experience, and relevant training. Detailed information can be found in the candidate handbook.

How do I find all available exam dates and locations?

Once enrolled, you will be able to access a scheduling tool that enables you to take your exam at a Pearson VUE center or via online proctoring.

How long do I have to take the certification exam?

Six months from the date of purchase.

What is the structure of the exam?

The exam has 100 questions in total. There are both multiple choice (select one answer) and multiple select questions (select all answers that fit).

How long is the exam? 

The exam is 175 minutes long.

Are exam results disclosed to third parties? Are the results public?

Candidates receive their exam results immediately (pass or fail) at the conclusion of the exam. If an organization pays for a candidate’s exam, they may ask for the result. If the candidate does not want this information released to their organization, they must notify ACAMS in writing.

Should I take a practice exam?

We advise you to take the practice exam to set yourself up for success. Developed to the same quality standard as the certification exam, the practice exam:

• Exposes you to samples of certification exam questions
• Builds your confidence in readiness for the certification exam
• Helps you study, in an interactive e-learning environment
• Covers the topic areas included on the actual exam

What is the difference between a practice exam and the certification exam?

The practice exam questions follow the same format as the certification exam. There are two versions of the same practice exam, which you can retake as many times as you want:

• One with answers revealed
• One without answers immediately available

None of the practice exam questions will appear on the certification exam. Please note, the practice exam is hosted in the ACAMS learning management system (LMS), which differs from the environment where the actual certification exam is administered through our partnership with Pearson VUE.

What is the difference between a post-assessment and a practice exam?

Post-assessments are a set of review questions designed to help you assess your knowledge after studying the training materials. Practice exams enable you to practice exam-style questions to prepare for your certification exam.

Where can I find my practice exam?

Practice exams are part of your study material. Once you are registered, log into the ACAMS LMS, and find and click on your course under the “My Courses” section. Scroll and choose the practice exam. You can access it at any time during your certification program enrollment period.

How many times can I take the practice exam?

You can retake the practice exams as many times as you want, even if you have answered 100% of the questions correctly.

How long is my CAFS Certification valid?

Three years.

What are the recertification requirements?

To recertify, you will need to earn 30 recertification credits over a three-year period. A minimum of 15 of these credits must be earned from ACAMS training or events. You will also need to hold an active ACAMS membership.

Do credits earned the same year I became certified count toward my recertification?

Yes, if the credits were earned after passing the CAFS exam.

I currently hold the CAMS Certification, and I am now CAFS certified. Do I need to recertify all of my earned certifications?

Yes. If you hold both CAMS and CAFS, you will need to recertify each designation separately.

"All exams and the exam materials are the copyright of ACAMS and may not be published, shared, reproduced, or otherwise distributed or disseminated without the express written consent of ACAMS. You will maintain the confidentiality of, and not distribute, share, or disclose any exam materials. You agree not to discuss the content of an exam with anyone, and that you will not record, copy, or disclose any exam questions or answers, in whole or in part, directly or indirectly, in any form or by any means whatsoever. Additionally, you represent that you have not received exam questions or answers from others.

Disclosing exam materials or information about exam materials may result in a lawsuit that may result in paying monetary damages or in you being subject to other court-enforced penalties, criminal penalties, cancellation of your test scores, revocation, or suspension of any of your current certifications, and/or revocation or suspension of your ACAMS memberships.

ACAMS is the final authority that determines in its sole discretion whether you have the privilege of maintaining your membership or any certification, sitting for an exam, and whether any score you receive is satisfactory. Initial receipt of a satisfactory score or certificate does not waive ACAMS’ right and discretion to deem a score non-satisfactory in the event ACAMS determines there were test taking irregularities or that the score may have been obtained by way of unfair advantage (e.g., evidence of cheating). In such an event, your memberships and certificate(s) may be suspended or revoked. In the event ACAMS determines that a certification or exam result was obtained by way of irregularities or unfair advantage, no refunds for exam or membership fees will be provided."