About NISM Series 24 Certification
The NISM Series XXIV: Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Provisions in Securities Markets Certification was launched by SEBI and NISM in March 2025 to strengthen AML/CFT compliance across India's securities industry. This certification is mandatory for compliance officers, principal officers, and designated employees responsible for AML/CFT compliance at securities market intermediaries.
With increasing regulatory focus on preventing money laundering and terrorism financing through financial markets, certified AML/CFT professionals are in high demand. India's membership in Financial Action Task Force (FATF) and commitment to global AML/CFT standards has elevated the importance of robust compliance frameworks. NISM Series 24 ensures that compliance professionals possess requisite knowledge of PMLA, KYC requirements, transaction monitoring, and reporting obligations.
Regulatory Mandate and Importance
SEBI mandated NISM Series 24 certification through circulars requiring securities market intermediaries to ensure their compliance officers and relevant staff obtain this certification. The mandate reflects regulatory emphasis on professional competency in AML/CFT compliance following global standards and FATF recommendations.
The certification ensures that compliance professionals understand Prevention of Money Laundering Act (PMLA), SEBI AML regulations, KYC requirements, transaction monitoring systems, and reporting obligations to Financial Intelligence Unit - India (FIU-IND). This knowledge is critical for implementing effective AML/CFT controls and protecting organizations from regulatory penalties and reputational damage.
Salary Expectations and Career Growth
AML/CFT compliance officers typically earn ₹4-12 lakh per annum, with principal officers responsible for AML compliance commanding ₹6-15 lakh. Compliance managers in securities firms earn ₹7-18 lakh, while chief compliance officers with extensive experience can earn ₹15-40 lakh or more.
The regulatory mandate for NISM Series 24 certification has increased demand for certified compliance professionals. Organizations prefer candidates with certification for compliance roles. Career progression typically moves from compliance analyst to officer, then to manager, and eventually chief compliance officer. Certification combined with strong understanding of regulatory requirements significantly enhances salary negotiations and promotion prospects.
Certificate Validity and Renewal
The NISM Series 24 certification is valid for three years from the date of issue. To maintain active certification, professionals must complete Continuing Professional Education (CPE) credits before certificate expiration. The CPE program ensures compliance officers stay updated with evolving AML/CFT regulations, emerging money laundering typologies, and regulatory changes.
The renewal process involves completing prescribed CPE hours through NISM-approved programs and paying renewal fees. For designated principal officers and compliance officers, maintaining active certification is a regulatory requirement. Failing to renew on time requires retaking the certification examination and may impact regulatory compliance status of the organization.
Industry Demand for AML Professionals
India's securities industry processes billions of rupees in transactions daily, making it critical to prevent money laundering and terrorism financing. SEBI's focus on investor protection and market integrity has elevated the importance of robust AML/CFT compliance frameworks across all market intermediaries.
The regulatory mandate for NISM Series 24 has created substantial demand for certified compliance professionals across stock brokers, depository participants, mutual funds, portfolio managers, and investment advisers. Organizations are strengthening compliance teams to meet regulatory requirements and implement effective AML/CFT controls.
Additionally, FATF assessments and international standards have increased regulatory scrutiny of AML/CFT compliance. Organizations increasingly prefer certified professionals who can ensure regulatory compliance, implement best practices, and effectively manage AML/CFT risks. This trend has made NISM Series 24 certification valuable for career advancement in compliance roles.
Career Opportunities After NISM Series 24
NISM Series 24 certification opens diverse career opportunities across the securities industry:
AML/CFT Compliance Officer
Monitor compliance with AML/CFT regulations, conduct KYC reviews, monitor transactions for suspicious activities, and ensure timely reporting to FIU-IND.
Principal Officer (AML Compliance)
Designated officer responsible for AML/CFT compliance, liaison with FIU-IND and regulators, oversee compliance program and reporting.
Compliance Manager
Manage compliance team, develop policies and procedures, conduct training programs, and ensure organization-wide regulatory adherence.
Chief Compliance Officer
Lead compliance function, report to board, develop compliance strategy, manage regulatory relationships, and oversee all compliance activities.
Complete NISM Series 24 Syllabus
The certification exam covers 10 comprehensive chapters focused on AML/CFT compliance:
Chapter 1: Introduction to AML, CFT and Proliferation Financing12%
- •Concept of Money Laundering
- •Process of Money Laundering
- •Terrorism Financing
- •Proliferation Financing
- •Global AML/CFT Framework
- •Indian AML/CFT Laws
Chapter 2: Legal and Regulatory Framework in India18%
- •PMLA 2002 and Amendments
- •SEBI AML Regulations
- •Scheduled Offences
- •Unlawful Activities Prevention Act
- •Foreign Exchange Management Act
- •Benami Transactions Act
Chapter 3: Know Your Customer (KYC) Requirements16%
- •Client Identification
- •Verification Procedures
- •Customer Due Diligence (CDD)
- •Enhanced Due Diligence (EDD)
- •Risk Categorization
- •Beneficial Ownership
Chapter 4: Transaction Monitoring and Reporting15%
- •Transaction Monitoring Systems
- •Red Flags and Indicators
- •Suspicious Transaction Report (STR)
- •Cash Transaction Report (CTR)
- •Reporting Timelines
- •FIU-IND Requirements
Chapter 5: Record Keeping and Audit10%
- •Record Maintenance Requirements
- •Retention Periods
- •Audit Procedures
- •Internal Controls
- •Compliance Verification
- •Documentation Standards
Chapter 6: Risk Assessment and Management12%
- •Risk-Based Approach
- •Client Risk Assessment
- •Product and Service Risk
- •Geographical Risk
- •Transaction Risk
- •Risk Mitigation Measures
Chapter 7: Compliance Organization and Training8%
- •Principal Officer Appointment
- •Compliance Team Structure
- •Reporting Hierarchy
- •Employee Training
- •Awareness Programs
- •Compliance Culture
Chapter 8: International AML/CFT Standards8%
- •FATF Recommendations
- •International Conventions
- •Basel Committee Guidelines
- •Mutual Legal Assistance
- •Cross-Border Cooperation
- •Global Best Practices
Chapter 9: Technology and AML/CFT6%
- •Transaction Monitoring Systems
- •Data Analytics
- •Artificial Intelligence in AML
- •RegTech Solutions
- •Cryptocurrency Risks
- •Digital Asset Monitoring
Chapter 10: Case Studies and Practical Scenarios5%
- •Money Laundering Typologies
- •Case Studies
- •Enforcement Actions
- •Best Practices
- •Lessons Learned
- •Practical Applications
NISM Series 24 Exam Pattern
Understanding the exam pattern helps you prepare effectively for AML/CFT certification:
Examination Structure and Format
The NISM Series XXIV examination is a computer-based test consisting of 50 multiple-choice questions (MCQs). Candidates have 60 minutes to complete the exam, which translates to approximately 1.2 minutes per question. The passing score is 50%, meaning candidates must answer at least 25 questions correctly to pass.
Importantly, there is no negative marking in the NISM Series XXIV examination. This means incorrect answers do not deduct points from your score, so it is strategically advisable to attempt all questions even if you're uncertain about some answers.
Questions are distributed across the syllabus chapters according to their weightages. For example, if a chapter carries 15% weightage, approximately 15 questions will be drawn from that topic. This proportional distribution ensures comprehensive coverage while focusing on more important areas.
Question Types and Difficulty Level
Questions in the NISM Series XXIV examination fall into two primary categories:
Knowledge-Based Questions
Test recall and understanding of definitions, concepts, regulations, and facts drawn from the NISM Series XXIV syllabus.
Application-Based Questions
Require applying knowledge to scenarios or case studies drawn from the NISM Series XXIV syllabus.
Questions are designed to assess working competency rather than exceptional expertise.
Why Choose PrepCore for NISM Series 24?
PrepCore provides comprehensive NISM 24 preparation with regulation-focused questions, practical scenarios, and detailed compliance guidance.
500 Practice Questions
Comprehensive coverage of PMLA provisions, KYC requirements, transaction monitoring, and reporting obligations.
Regulation-Focused Explanations
Detailed explanations of AML/CFT regulations with practical compliance scenarios and red flag indicators.
Real Exam Simulation
Practice with exact NISM exam format including timer, navigation, and the 50% passing threshold.
Compliance Analytics
Track performance across regulatory topics, identify weak areas in AML/CFT knowledge.
Best Value: ₹299 for 45 Days
Exceptional value for mandatory certification preparation. Affordable professional development.
2 Free Demo Tests
Try our platform with 2 complete mock tests. No credit card required for trial.
Mobile-Friendly
Study on any device. Seamless experience across desktop, tablet, and mobile platforms.
Updated for 2025
Content continuously updated with latest PMLA amendments and SEBI circulars.
Compliance-Focused
Questions emphasize practical compliance scenarios, red flags, and reporting requirements.
How to Prepare for NISM Series 24 Exam
Strategic preparation focused on PMLA provisions and compliance procedures is key to passing NISM Series 24.
Recommended Study Timeline: 3-4 Weeks
Most candidates can prepare for NISM Series 24 in 3-4 weeks with focused study of regulations and procedures.
3-Week Intensive
For compliance professionals with AML/CFT experience. Requires 3-4 hours daily study.
4-Week Balanced
Ideal for most candidates. Adequate time for thorough coverage with 2-3 hours daily.
5-Week Comfortable
Best for beginners without compliance background. Requires 1.5-2 hours daily.
Week-by-Week Study Plan
High-Priority Topics
Legal Framework (Chapter 2)
18% weightage. Master PMLA provisions, scheduled offences, and SEBI AML regulations thoroughly.
KYC Requirements (Chapter 3)
16% weightage. Understand client identification, verification, and due diligence procedures comprehensively.
Transaction Monitoring (Chapter 4)
15% weightage. Master red flags, suspicious transaction identification, and reporting requirements.
Risk Assessment (Chapter 6)
12% weightage. Understand risk-based approach and client risk categorization methods.
Common Mistakes to Avoid
Memorizing Without Understanding
Don't just memorize regulations. Understand the rationale and practical application.
Ignoring Practical Scenarios
Exam tests application to scenarios. Practice identifying red flags and determining appropriate actions.
Neglecting PMLA Provisions
PMLA is fundamental to AML/CFT. Weak understanding of PMLA will severely impact performance.
Insufficient Mock Tests
Complete multiple full-length tests to build confidence and time management skills.
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Frequently Asked Questions (FAQ)
Find answers to common questions about NISM Series 24 certification: