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| Certification Vendor: | ACAMS |
|---|---|
| Exam Name: | Certified Anti-Money Laundering Specialists (6th Edition) |
| Exam Number: | CAMS |
| Certificate Validity Period: | 3 years |
| Real Exam Qty: | 120 |
| Exam Duration: | 210 minutes |
| Exam Format: | Computer-based, Scenario-based questions, Multiple-choice |
| Exam Price: | USD 1,595 – USD 2,095 |
| Available Languages: | Portuguese, French, German, English, Russian, Arabic, Japanese, Korean, Simplified Chinese, Polish, Traditional Chinese, Spanish |
| Related Certifications: | CAMS-Risk CAMS-FCI CAMS-Audit |
| Passing Score: | 75% |
| Recommended Training: | CAMS Virtual Classroom & Live Training Official CAMS 6th Edition Study Guide |
| Exam Registration: | Pearson VUE Scheduling ACAMS Official Registration |
| Sample Questions: | ACAMS CAMS Sample Questions |
| Exam Way: | Online remote proctored or onsite at Pearson VUE test centers |
| Pre Condition: | Active ACAMS membership; minimum 40 qualifying credits from education, professional experience or approved training; 3 professional references |
| Official Syllabus URL: | https://www.acams.org/en/certifications/cams |
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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a globally recognized certification designed for professionals in the anti-money laundering (AML) field. CAMS exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS) and is aimed at testing the knowledge of AML professionals on the latest industry trends, laws, and regulations. The CAMS certification is widely regarded as a benchmark for AML professionals, and it is highly valued by employers in the financial industry.
The Certified Anti-Money Laundering Specialists (CAMS) exam is a globally-recognized certification for professionals in the anti-money laundering (AML) field. CAMS Exam is designed to test the knowledge and skills of individuals who work in compliance, AML investigations, and regulatory roles. The CAMS certification is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS), which is the largest international membership organization dedicated to enhancing the knowledge and skills of AML professionals.
NEW QUESTION # 312
A financial institution (FI) is fined for failure to implement an effective AML program. Which consequences could the regulator impose on the bank's Chief AML Officer? (Select Three.)
Answer: C,D,E
Explanation:
Civil and Criminal Prosecution, Fines, and Imprisonment: The Chief AML Officer may face legal action, including both civil and criminal proceedings. This could result in fines and even imprisonment if found guilty of negligence or misconduct related to anti-money laundering compliance.
Ban from Employment: Regulators have the authority to ban individuals from working in the financial services industry if they are deemed unfit due to AML-related failures. Such a ban can significantly impact the individual's career prospects.
Recommend Termination of Employment: While the regulator cannot directly terminate employment, they can recommend that the financial institution (FI) take appropriate action, including termination, based on the Chief AML Officer's performance.
Reference:
Anti-Money Laundering Specialist (the 6th edition) resources.
ACAMS AML Glossary (definitions of terms related to AML).1
ACAMS AML Foundations Certificate (overview of AML concepts and responsibilities).2 ComplyAdvantage: 6th Money Laundering Directive (6AMLD) (details on AML regulations and penalties).3
NEW QUESTION # 313
Which of the following are included in the11 Immediate Outcomesoutlined in the Financial Action Task Force (FATF) methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT/CPF systems during mutual evaluations? (Select Three.)
Answer: B,C,E
Explanation:
TheFATF Immediate Outcomes (IOs)measure the effectiveness of AML/CFT frameworks in jurisdictions.
Option A (Correct):International cooperationis key to combating financial crime, as outlined inImmediate Outcome 2.
Option B (Correct):Effective regulation of financial institutionsis part ofImmediate Outcome 3, which ensures compliance with AML laws.
Option E (Correct):Investigation and prosecution of money laundering offensesalign withImmediate Outcome
7.
Option C (Incorrect):FATF itself does not conduct investigations; FIUs share intelligence with domestic and international agencies.
Option D (Incorrect):While financial criminals face legal consequences, there is no global mandate to restrict their access to banking.
Reference:FATF Methodology for Assessing AML/CFT Systems (Immediate Outcomes 1-11).
NEW QUESTION # 314
What does designing a country as being of "prime money laundering concern" allow the U.S. government to do?
Answer: D
Explanation:
Designating a country as being of "prime money laundering concern" allows the U.S. government to impose one or more of five special measures under Section 311 of the USA PATRIOT Act12. These special measures are intended to protect the U.S. financial system from the risks posed by the designated country, such as money laundering, terrorist financing, or other illicit activities. The fifth special measure, which is the most severe, authorizes the Treasury Department to prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for foreign financial institutions that involve the designated country12. Correspondent accounts are accounts that enable foreign banks to access the U.S. financial system and provide services to their customers, while payable-through accounts are accounts that allow foreign banks to offer their customers direct access to the U.S. financial system3. Closing these accounts effectively cuts off the designated country from the U.S. financial system and imposes significant costs and burdens on its financial sector.
Reference:
1: 311 Actions | U.S. Department of the Treasury
2: Press Releases - U.S. Department of the Treasury
3: Anti-Money Laundering Laws and Regulations USA 2023-2024
NEW QUESTION # 315
Which of the following serves as an example of a successful public-private partnership (PPP)?
Answer: B
Explanation:
The AUSTRAC Fintel Alliance is a successful example of a public-private partnership (PPP). It brings together government agencies and private sector organizations to collaborate on detecting, preventing, and disrupting financial crime through shared intelligence, technology, and expertise.
NEW QUESTION # 316
An anti-money laundering specialist at a large institution is responsible for information senior management about the status of the anti-money laundering program across the organization.
Which report is the most useful?
Answer: C
Explanation:
Results of related audits and examinations are the most useful report for an anti-money laundering specialist to inform senior management about the status of the anti-money laundering program across the organization.
This is because audits and examinations provide an independent and objective assessment of the effectiveness, efficiency, and compliance of the anti-money laundering program, as well as identify any gaps, weaknesses, or areas for improvement. Audits and examinations can also help senior management to monitor the performance of the anti-money laundering program, ensure accountability and oversight, and demonstrate commitment to regulatory expectations and best practices.
References:
Anti-Money Laundering Preparedness Survey Report 2020 - Deloitte US, page 4.
CAMS Study Guide 6th Edition, page 39.
NEW QUESTION # 317
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