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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- International standards and bodies 1. Basel Committee, Wolfsberg Group, UN conventions 2. FATF 40 Recommendations - Regional and national regulations 1. EU AML Directives 2. USA PATRIOT Act and extraterritorial laws - Governance, accountability and ethics 1. Roles of board, senior management and compliance function 2. Ethical obligations and professional standards
Tools, Technologies and Investigations	22%	- Technology and systems 1. Cryptoasset and virtual asset compliance 2. Monitoring systems, screening tools, data analytics - Investigation processes and evidence handling 1. Case management and escalation 2. Cooperation with authorities and information sharing - Remediation and response 1. Corrective actions and regulatory engagement
Building and Managing Anti-Financial Crime Compliance Programs	28%	- Audit, testing and continuous improvement - Monitoring, reporting and record keeping 1. Suspicious activity reporting (SAR/STR) 2. Transaction monitoring and alert management 3. Legal record retention requirements - Training, awareness and internal communication - Program framework and policies 1. Policies, procedures and controls design 2. Risk assessment and risk-based approach - Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification
Understanding Risks and Methods of Financial Crime	26%	- Terrorism financing and proliferation financing 1. Sources and mechanisms 2. Distinctions from money laundering - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses - Sanctions regimes and compliance risks 1. Risk identification and mitigation 2. UN, EU, OFAC frameworks

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q13-Q18):

NEW QUESTION # 13
The new KYC lead at a bank is particularly focused on enhancing the risk management component of its KYC program and refers to the Basel Committee's customer due diligence (CDD) principles.
Which of the following describe key improvements to a KYC program established in the Basel Committee's CDD principles? (Select Two.)

A. Enhancement of a customer acceptance policy to more clearly identify high-risk customers
B. Increased frequency of training provided to front office employees
C. Enhancement of customer identification procedures to appropriately identify trust, nominee, and fiduciary accounts
D. Implementation of a blacklist of correspondent customers with previously detected and investigated suspicious activity

Answer: A,C

NEW QUESTION # 14
An institution is looking to alter an existing threshold-based monitoring scenario because it is generating too many alerts that do not yield suspicious activity reports. Documentation submitted to the relevant committee for supporting this proposal should include details on: (Choose three.)

A. how many resources are spent on the less productive lower threshold and the associated costs.
B. minutes of meeting held with the regulator where agreement was obtained that the higher threshold was justified.
C. the number of cases that will not be filed and the resources that can be freed up for other tasks.
D. approval by money-laundering reporting officer for the proposal.
E. evidence that the increased residual risk arising from the change is within the bank's risk appetite.
F. historical analysis proving that the current scenario generates a disproportionate number of false positives.

Answer: A,E,F

Explanation:
The documentation should include evidence that the residual risk remains within the bank's risk appetite, analysis of resources spent and costs associated with the current lower threshold, and historical data showing the high false positive rate to justify altering the threshold while maintaining effective risk management.

NEW QUESTION # 15
What is the PRIMARY AML concern regarding prepaid cards?

A. They may permit anonymous movement of funds
B. They eliminate cyber risks completely
C. They reduce transaction speed
D. They always generate interest income

Answer: A

Explanation:
Prepaid cards can present AML risks because they may facilitate rapid transfer or withdrawal of funds with reduced transparency, especially when customer identification requirements are weak.
Criminals may use prepaid products for structuring, cross-border movement of value, or layering illicit proceeds.

NEW QUESTION # 16
The Wolfsberg Group's 2012 "Principles (or Private Banking" established that.

A. private banks need to better coordinate and align their global AML control environment strategies.
B. private banks agree that transparency of client beneficial ownership Is necessary and appropriate.
C. risk based approaches are insufficient to address the heightened risk presented through private banking
D. due diligence requirements tor private banking customers are necessary to prevent predicate offenses.

Answer: B

NEW QUESTION # 17
While gaming platforms are typically used for recreational purposes, they can potentially be used for terrorist financing through games in which players can:

A. trade in-game items with other players that can be exchanged for fiat currency
B. exchange in-game items with other players.
C. obtain in-game materials by performing in-game activities.
D. buy in-game items with virtual in-game currencies.

Answer: A

Explanation:
Terrorist financing can be facilitated on gaming platforms particularly through the trading of in- game items for fiat currency. This mechanism allows for the movement of value outside the formal financial system, potentially evading detection and reporting requirements.
"One of the key ML/TF risks in online gaming is the ability to convert virtual assets or in-game items into real-world (fiat) currency, thereby providing a channel for laundering money or funding terrorist activities."

NEW QUESTION # 18
......

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