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ACAMS CAMS Exam Syllabus Topics:

Section	Weight	Objectives
Compliance Standards for AML/CFT	25%	- Risk-based approach fundamentals 1. Principles of risk assessment 2. Application across jurisdictions - Global regulatory frameworks 1. EU AML Directives 2. Basel Committee guidelines 3. USA PATRIOT Act and national regulations 4. Wolfsberg Principles 5. FATF 40 Recommendations - International organizations and bodies 1. Financial Action Task Force 2. Standard-setting bodies 3. Egmont Group of Financial Intelligence Units
Conducting and Responding to Investigations	21%	- Detection and red flags 1. Industry-specific red flags 2. Identifying suspicious activities and transactions - Investigation process and case management 1. Evidence gathering and analysis 2. Case documentation and reporting - Information sharing and cooperation 1. Domestic and international cooperation 2. Working with FIUs and law enforcement - Disciplinary and remedial actions 1. Corrective measures and sanctions 2. Preventing recurrence
AML/CFT Compliance Programs	28%	- Reporting and record-keeping 1. Record retention requirements 2. Suspicious activity reporting (SAR/STR) - Training, audit and independent review 1. Continuous improvement 2. Staff training programs 3. Internal and external audit functions - Customer due diligence requirements 1. Ongoing monitoring 2. KYC/CDD and enhanced due diligence 3. Beneficial ownership identification - Core elements of compliance programs 1. Governance and oversight 2. Risk assessment and management 3. Policies, procedures and controls
Risks and Methods of Money Laundering and Terrorist Financing	26%	- Money laundering stages and mechanisms 1. Placement, layering, integration 2. Terrorist financing methods 3. Trade-based money laundering - Sanctions and related risks 1. UN, EU, OFAC and other sanctions regimes 2. Consequences of non-compliance - Sector-specific vulnerabilities 1. Precious metals and high-value goods 2. Banking and deposit-taking institutions 3. Securities and capital markets 4. Gaming and casinos 5. Legal and professional service providers 6. Money services businesses 7. Insurance sector 8. Real estate

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q328-Q333):

NEW QUESTION # 328
Which statement is the most accurate in describing who must comply with Office of Foreign Assets Control (OFAC) sanctions?

A. All U.S. citizens and permanent residents regardless of where they are located, all U.S.-incorporated entities and their foreign branches, and all individuals and entities within the United States.
B. S. Sanctions Compliance Framework by OFAC
C. All U.S. citizens and permanent residents while located in the U.S., all U.S.-incorporated entities and their foreign branches, and all individuals within the United States.
D. All U.S. citizens except those with dual nationality, U.S. permanent residents, all U.S.-incorporated entities, and all individuals within the United States.
E. All U.S. citizens and permanent residents regardless of where they are located, all U.S.-incorporated entities excluding their foreign branches, and all individuals and entities within the United States.

Answer: A

Explanation:
OFAC sanctions apply extraterritorially, meaning U.S. persons must comply regardless of their location.
Option A (Correct): OFAC sanctions apply to all U.S. citizens, permanent residents, entities incorporated in the U.S. (including foreign branches), and individuals/entities within U.S. jurisdiction.
Option B (Incorrect): Foreign branches of U.S.-incorporated entities must comply with OFAC sanctions.
Option C (Incorrect): OFAC sanctions apply to all U.S. citizens, including dual nationals.
Option D (Incorrect): U.S. citizens and permanent residents must comply with OFAC sanctions even when located abroad.
Best Practices for OFAC Compliance:
Screen all transactions against the Specially Designated Nationals (SDN) list.
Ensure compliance programs extend to foreign branches and subsidiaries.
Monitor international business activities for potential sanctions violations.
Reference:
OFAC Sanctions Guidelines (U.S. Treasury Department)
FATF Recommendation 7 (Targeted Financial Sanctions Compliance)

NEW QUESTION # 329
A suspicious transaction report filed on a car dealer structuring deposits initiates a criminal investigation. The dealer changes branches and begins placing transactions with a frontline employee to whom the dealer has given numerous gifts.
This employee handles all of the dealer's structured deposits and does not report the suspicious activity internally.
The competent authority has advised the anti-money laundering specialist to avoid tipping off the employee until the investigation is finalized.
What action should the specialist take next?

A. Recommend the immediate termination of the employee.
B. Inform the institution's regulatory agency of the situation.
C. Consult with senior management and the legal advisor.
D. Advise that the dealer's accounts should be closed.

Answer: C

Explanation:
it describes the action that the anti-money laundering specialist should take next, which is to consult with senior management and the legal advisor. This is because the specialist needs to seek guidance and approval from the higher authorities and the legal experts on how to handle the situation without compromising the ongoing criminal investigation or violating the anti-money laundering laws and regulations. The specialist also needs to ensure that the institution's internal policies and procedures are followed andthat the appropriate measures are taken to mitigate the risks and protect the reputation of the institution.
The other options are not necessarily actions that the anti-money laundering specialist should take next, although they may be considered or implemented later depending on the outcome of the consultation and the investigation. Option A describes a possible consequence for the employee, which is to recommend the immediate termination of the employee, but this may not be the best course of action at this stage, as it may alert the employee or the dealer of the investigation, or it may be premature or disproportionate without sufficient evidence or due process. Option B describes a possible measure for the dealer, which is to advise that the dealer's accounts should be closed, but this may not be feasible or advisable at this stage, as it may also tip off the dealer or the employee of the investigation, or it may interfere with the collection of evidence or the prosecution of the case. Option D describes a possible reporting obligation for the institution, which is to inform the institution's regulatory agency of the situation, but this may not be required or appropriate at this stage, as it may conflict with the instructions of the competent authority or the confidentiality of the investigation, or it may expose the institution to legal or regulatory liabilities or sanctions.
:
ACAMS CAMS Certification Video Training Course - 6th Edition1
Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)2 ACAMS CAMS Study Guide - 6th Edition, Chapter 6, pages 132-133: https://www.acams.org/wp-content/uploads/2019/09/ACAMS-CAMS-Study-Guide-6th-Edition-Chapter-6.
pdf

NEW QUESTION # 330
What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee's Customer Due Diligence for Banks paper?

A. Annual staff training
B. The same KYC requirements must be applied in all cases
C. A customer acceptance policy
D. All completed KYC documents must be reviewed by a senior manager not involved in the account opening process

Answer: C

Explanation:
The correct answer is B, as a customer acceptance policy is an essential element of KYC standards according to the Basel Committee's Customer Due Diligence for Banks paper1. A customer acceptance policy defines the types of customers that the bank is willing to accept, and the conditions and limitations that apply to such relationships. A customer acceptance policy helps the bank to avoid customers who are likely to pose a higher than average risk of money laundering or terrorist financing, or who are not willing to provide sufficient information for identification and verification purposes1.
References: 1: Customer due diligence for banks - Bank for International Settlements, page 9.
Reference: https://www.bis.org/publ/bcbs77.pdf

NEW QUESTION # 331
Which statements relate to the mandate, roles, and responsibilities of the Financial Action Task Force (FATF) and the FATF-Style Regional Bodies (FSRBs)? (Select Two).

A. FATF and FSRBs are free-standing organizations that share the common goals of combating money laundering and the financing of terrorism and proliferation.
B. FSRBs play an essential role in identifying and addressing AML technical assistance needs for their individual member countries.
C. FATF member countries cannot be members of an FSRB at the same time.
D. FSRBs have the right to develop standards with which their member countries are bound to comply.
E. In the process of setting standards. FATF will only consider inputs from its member countries as part of the consultation process.

Answer: A,B

Explanation:
Explanation
FSRBs play an essential role in identifying and addressing AML technical assistance needs for their individual member countries. The FSRBs are responsible for promoting the effective implementation of the FATF Recommendations at the regional level, including by assisting member countries in identifying technical assistance needs and facilitating the provision of such assistance.
FATF and FSRBs are free-standing organizations that share the common goals of combating money laundering and the financing of terrorism and proliferation. The FATF is an intergovernmental body that sets global standards for AML/CFT and promotes their effective implementation, while the FSRBs are regional organizations that work to promote the effective implementation of the FATF Recommendations at the regional level.

NEW QUESTION # 332
Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

A. Prohibit or reject licensed trade and financial transactions with specified countries, entities and non-U.S.
individuals
B. Prohibit or reject licensed trade and financial transactions with specified countries, entities and U.S.
individuals
C. Prohibit or reject unlicensed trade and financial transactions with specified countries, entities, and individuals
D. Prohibit or reject unlicensed foreign trade and financial transactions with specified countries, entities, and individuals

Answer: C

NEW QUESTION # 333
......

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