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The CGSS certification exam is open to professionals from a wide range of industries, including banking, finance, insurance, law, and government. CGSS exam is particularly relevant for individuals working in financial institutions, as they are subject to strict sanctions compliance regulations and are required to ensure that their institutions are not inadvertently facilitating financial transactions with sanctioned individuals or entities.

The CGSS exam covers a wide range of topics related to global sanctions, including the legal and regulatory framework surrounding sanctions, sanctions risk assessment, and sanctions compliance program management. CGSS exam also covers practical skills such as risk analysis, screening and filtering, and sanctions investigation. CGSS exam is designed to be challenging and comprehensive, and passing it requires a thorough understanding of the sanctions compliance landscape.

Reference: https://www.acams.org/en/certifications/certified-global-sanctions-specialist-cgss#course-content-deffae40

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ACAMS CGSS Exam Syllabus Topics:

SectionWeightObjectives
Specialized Topics and Emerging Issues10%- Sanctions evasion techniques
  • 1. Trade-based money laundering
  • 2. Secondary sanctions awareness
  • 3. Shell company detection
- Crypto/digital asset sanctions
  • 1. DeFi and blockchain considerations
  • 2. Virtual currency service providers
Remediation and Reporting15%- Regulatory reporting
  • 1. Suspicious Activity Reports (SARs)
  • 2. Blocking/rejecting transactions
  • 3. Licensing and exceptions
- Sanctions violations handling
  • 1. OFAC Voluntary Self-Disclosure
  • 2. Self-reporting obligations
  • 3. Civil and criminal penalties
Investigation and Escalation15%- Escalation procedures
  • 1. Senior management notification
  • 2. Internal escalation pathways
  • 3. Legal and compliance consultation
- Sanctions alerts investigation
  • 1. Alert triage and prioritization
  • 2. Decision-making frameworks
  • 3. Evidence gathering and documentation
Sanctions Environment and Framework15%- Overview of sanctions regimes (OFAC, EU, UN, UK)
  • 1. Sanctions objectives and policy considerations
  • 2. Legal authorities and enforcement agencies
  • 3. Economic sanctions fundamentals
- Types of sanctions (comprehensive, sectoral, targeted)
  • 1. Trade sanctions
  • 2. Travel sanctions
  • 3. Financial sanctions
Screening and Monitoring25%- Transaction screening
  • 1. Name screening methodologies
  • 2. Enhanced due diligence
  • 3. False positive management
- Technology and automation
  • 1. System limitations and tuning
  • 2. AI/ML applications in screening
  • 3. Sanctions screening technology
- Ongoing monitoring
  • 1. Adverse media screening
  • 2. Real-time transaction monitoring
  • 3. Counterparty risk assessment
Risk Assessment and Compliance Program20%- Sanctions risk assessment methodology
  • 1. Risk mitigation strategies
  • 2. Risk identification
  • 3. Risk monitoring and reporting
- Compliance program components
  • 1. Training and awareness
  • 2. Policies and procedures
  • 3. Governance and oversight

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