ACAMS money making scheme

Good Day

I write this review with sheer disappointment. Association of Certified Anti-Money Laundering Specialists “ACAMS” is a “prestigious” Anti-Money Laundering certification body with Head Offices in Miami. I paid a course fee and registered to the institution in December 2017 and obtained a membership valid for one year including sitting for the exam.

I wrote the exam in September 2018 and missed the required pass mark (62,5%) by a few points. Please note that the exam consists of 120 multiple choice questions and the results are automated with the exam result provided in real time. Additionally, please note that there are no previous papers or a forum provided for one to see where they’ve gone wrong in the exam just an email communicating the result and providing for rewrite options.

I then inquired about a rewrite and was informed about a rewrite fee of $299 which I paid and which was valid from Oct 2018- 20 May 2019. I have now decided to defer the exam to a later date due to unforeseen circumstances and work pressure.

ACAMS exam Policy states that one must reschedule or cancel within 72 hours before the exam to ensure that a refund is possible. This can only be done via email or contacting ACAMS (international number or international rates and different time zones).

I have been going back and forth with ACAMS customer services for about three weeks now (exam was scheduled for 10 May 2019) to ensure I give proper notice to either defer my exam to a later date or obtain my refund. During this time, I’ve only been able to get responses after 3 days or after a week, being told different things by various customer service agents. I have endless emails proving this and all relevant invoices and exam information.

Fast forward to today I’m advised that my membership of 1 year has expired and to sit for the exam and get an extension I have to pay a membership fee of (cheapest $265 valid for one year) so that it is active. I feel that these extra and additional fees are nothing but unfair and unreasonable money making schemes geared to barring most young professionals from obtaining this designation. I have asked for my exam retake fee which I paid for and have proof for, of $299 to be refunded or alternatively for ACAMS to use it to settle my outstanding membership fee seeing that I paid for an exam which I’m now cancelling and deferring to a later date. Please note that I have given the required notice weeks before the exam and the exam has now been cancelled on the system.

I’m extremely unhappy and dissatisfied with the service I’ve received from ACAMS and I’m now considering dropping this designation and pursuing another qualification that will add value to my career without all these additional exorbitant fees geared towards money making instead of assisting and empowering young professionals to enhance their careers within reasonable means.

All I am asking for a solution or my refund.