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Originally Posted by NotaBot
Anyone able to share experience on the usefulness of ACAMS vs ICA?
I have been in operations and controls and have moved to advisory and policy making.
I have browsed Level 1 & 2 ACAMS and Level 1 ICA from my friends and do not find the ACAMS material particularly useful as it mentions and makes some questions around history, such as the setup of organisations or principles.
My previous workplaces encouraged ACAMS although they were admittedly openly biased towards it, knowing people on the board and claimed the material is alot fresher than ICA.
A friend who is a senior on an operations team, queried the usefulness of either and the hiring manager only cares about work experience and team fit.
ACAMS requires a ''refresher'' certification every 3 years and sounds like a money-grabbing tactic.
The subscription to AML/CTF news seems useful if extracting for training and being kept up to date.
On other hand ICA, some of my friends mentioned that the coursework/tests are more practical such as designing frameworks and policies. I have not seen the advanced course material and have seen fewer people with this certification.
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I have taken the ICA dip and CAMS. Your observations are spot on. ICA may be a little more helpful in practical context, and this is only a may. I qualify i have not taken the advanced certs.
Most importantly is are you funded? If you are not, i suggest you forgo unless there are more positive experiences about a particular cert shared to you.