What is American Bankers Association CRCM Exam ?
The American Bankers Association (ABA) Certified Regulatory Compliance Manager (CRCM) exam is a certification exam for professionals who work in the financial services industry. The exam covers a wide range of topics related to regulatory compliance, including:
Anti-money laundering (AML): This section tests your knowledge of the laws and regulations governing AML, as well as the tools and techniques used to combat money laundering.
Bank Secrecy Act (BSA): This section tests your knowledge of the BSA, which is the primary federal law governing AML in the United States.
Customer Identification Program (CIP): This section tests your knowledge of the CIP, which is a requirement of the BSA that banks must implement to verify the identity of their customers.
Customer Due Diligence (CDD): This section tests your knowledge of CDD, which is a process that banks must use to assess the risk of their customers and to develop appropriate risk-based policies and procedures.
Know Your Customer (KYC): This section tests your knowledge of KYC, which is a general term for the process of identifying and verifying the identity of customers.
OFAC: This section tests your knowledge of OFAC, which is the Office of Foreign Assets Control, a U.S. government agency that enforces economic and trade sanctions against foreign countries and individuals.
To become certified, you must pass the CRCM exam with a score of 75% or higher. You can take the exam at an authorized testing center.
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