ΠΕΡΙΓΡΑΦΗ

The ACAMS Certified Anti-Fraud Specialist (CAFS) certification programme equips professionals with the knowledge, tools, and confidence to identify, prevent, and mitigate financial fraud effectively. Designed for practitioners in financial institutions and non-bank financial institutions, the programme provides a comprehensive understanding of fraud typologies, risk assessment, and control frameworks. 

By investing in this training, institutions strengthen their defence mechanisms and demonstrate a commitment to protecting customers, shareholders, and regulatory compliance. CAFS provides professionals with a recognised global credential, preparing them to lead anti-fraud initiatives that enhance corporate resilience and trust in the financial system 

Through interactive learning, case studies, and real-life applications, participants will gain the expertise to manage evolving fraud risks and safeguard organisational integrity and trust.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will be able to:

At Knowledge Level

• Describe major fraud typologies and their organisational impact.
• List the categories of fraud risk (internal, external, collusion).
• Identify fraud indicators and red flags across financial products.
• Explain the regulatory landscape and obligations related to fraud prevention.
• Clarify the relationship between fraud, AML, and other financial crimes.
• Correlate fraud risk with operational, reputational, and regulatory risks.

At Skills Level

• Develop comprehensive fraud risk assessments aligned with institutional policies.
• Perform fraud control testing and evaluate preventive measures.
• Explain and justify risk-based approaches in fraud prevention and detection.
• Show the ability to apply investigative techniques to identify suspicious activity.
• Organise and substantiate anti-fraud programmes and governance frameworks.
• Defend audit findings and support the design of internal fraud monitoring systems.

At Attitudes Level

• Challenge unethical practices and promote organisational integrity.
• Defend transparency and accountability in fraud investigations.
• Motivate teams to adhere to best practices in anti-fraud governance.
• Criticise ineffective fraud mitigation approaches constructively.
• Participate in fostering a culture of proactive fraud prevention.
• Evaluate institutional vulnerabilities and propose continuous improvement strategies.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The programme is ideal for:

• Professionals working in anti-fraud prevention, detection, and investigation units.
• Managers and supervisors overseeing financial crime compliance or internal audit functions.
• Fraud officers, investigators, analysts, and monitoring specialists.
• Professionals auditing or evaluating fraud controls and compliance frameworks.
• Technology and product specialists involved in transaction monitoring and fraud analytics.

Organisations that will benefit include:

• Banks and credit institutions
• Credit unions and cooperative societies
• Payment and card service providers
• Money services businesses and remittance companies
• Securities, brokerage, and investment firms
• Cryptocurrency service providers and FinTech companies managing client assets

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline 

Introduction to Fraud 

Introduction

• The fraud superhero case
• What would you do?
• Feedback
• Learning objectives

What is fraud?

• Fraud
• Fraud (case example: voice phishing)
• Characteristics of a fraudster
• The concept of predicate offense
• Fraud is related to other financial crimes
• Recurrence of fraud
• Staying current on fraud
• Regulation related to fraud

Categories of fraud risk

• Internal versus external fraud
• First-, second-, third-party fraud
• Internal versus external fraud (case study: inside fraudster)
• Internal and external collusion fraud
• Collusion fraud (case study: bank insider)

Consequences of fraud

• Consequences of fraud on individuals
• Consequences of fraud on individuals (case study: romance fraud)
• Consequences of fraud on an organisation
• Consequences of fraud on an organisation (case study: Wells Fargo fake account scandal)
• Consequences of fraud on society
• Consequences of fraud on society (case study: Bank of America mortgage fraud)

Identifying Fraud Risk

Introduction

• An effective fraud risk assessment
• What would you do?
• Feedback
• Learning objectives

Risk overview

• Types of risk: operational, concentration, reputational
• Fraud is a form of operational risk
• Fraud is a form of operational risk (case study: My Big Coin)
• Types of risk: reputational (case example: N26 Bank compliance)

Know who is being defrauded

• Know who is being defrauded
• Know who is being defrauded (case example: correspondent bank)
• Know who is being defrauded (case example: Wirecard)

Risk assessment

• Principles for an effective fraud risk assessment
• Risk rating by applying your institution’s policies and tools
• Risk rating by applying third-party tools

Risk-based approach

• Risk-based approach to business
• Risk-based approach to fraud prevention
• Risk appetite
• Residual risk equation

Fraud Typologies and Red Flags

Introduction

• Emily’s job hunt
• What would you do?
• Feedback
• Learning objectives

Cyber-enabled fraud

• Cyber-enabled crime
• Social engineering in cybercrime
• Authorised push payment crime
• Authorised push payment crime (case example: bank impersonation)
• Hacking and unauthorised access
• Business email compromise

Financial institution fraud

• New account opening fraud
• Loan fraud
• Loan fraud (case example: Paycheck Protection Program scheme)

Payment fraud

• Credit and debit card fraud
• Wire fraud and mail fraud
• Invoice fraud
• Check fraud

Consumer fraud

• Identify fraud
• Elder fraud
• Ponzi schemes and pyramid schemes
• Securities fraud
• Advance-fee fraud

Procurement and contract fraud

• Procurement and contract fraud

Internal fraud

• Internal fraud
• Internal fraud (case example: Rita Crundwell)

Controlling Fraud

Introduction

• Big city identity fraud
• What would you do?
• Feedback
• Learning objectives

Developing an anti-fraud programme

• Anti-fraud compliance programme
• FRAML
• Common gaps in fraud prevention

Preventive controls

• Anti-fraud policy
• Controlling risk
• Three lines of defence
• Dual controls
• Know your employee and vendor
• Raising awareness about fraud

Detective controls

• Transaction monitoring for fraud
• Enhanced techniques for transaction monitoring
• Whistleblowing program

Next steps

• Duty to report
• Suspicious activity escalation process
• What is a suspicious activity report?
• Maintaining an account after unusual activity
• Remedies for victims of financial crime

Review

• Review questions

Conclusion

CAFS Certification 

The Certified Anti-Fraud Specialist (CAFS) certification equips fraud professionals with a comprehensive, balanced learning framework tailored to banks and non-bank financial institutions. Earning CAFS demonstrates your advanced knowledge of international fraud standards and your commitment to safeguarding your organization against financial crime. Trusted in over 180 countries and recognized by regulators worldwide, ACAMS sets the benchmark for AFC expertise across industries.

The EIMF CAFS Examination Preparation Package Includes:

• Exam costs are included in the fee
• 2-day Course in preparation for the exam
• Study tips
• Flashcards
• Online Study Materials (Online Courses, Review Questions, Post-Assessment)
• Practice Exam
• CAFS Official Study Guide

Exam and membership fees are subject to change at any time at ACAMS’ s discretion and without prior notice. Accordingly, EIMF will charge candidates based on the applicable fees in effect at the time of registration.

Any discount applies only to the course fee (€570) and not to the exam fee. Any special promotions/discounts apply exclusively to the course training fee (€570). The exam fee is not eligible for discounts.

Course and exam fees are subject to change at any time at ACAMS’s discretion and without prior notice. Accordingly, EIMF will charge candidates based on the applicable fees in effect at the time of registration

The CAFS study guide is your main resource for preparing for the examination.

Visit the ACAMS eligibility calculator to determine if you have the requisite background to qualify for the CCAS exam.

CPD Recognition

This programme may be approved for up to 20 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

ACAMS and EIMF

The ACAMS and EIMF have a long-lasting collaboration in organising training and development events and promoting opportunities that are of value to the ACAMS members as well as to compliance professionals. The ACAMS has awarded the EIMF the “Authorised Training Provider” status, which allows EIMF to offer quality preparation courses for participants pursuing the ACAMS certificates, such as the CAMS (Certified Anti-Money Laundering Specialist) and CCASS (Certified Cryptoasset AFC Specialist).

Training Style

The course will adopt a structured and rigorous approach, incorporating lectures, interactive discussions, case studies, and practice exams. It aims to provide a comprehensive review of the CAFS exam domains, helping participants build the knowledge and confidence needed to successfully pass the certification exam.