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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Building and Managing Anti-Financial Crime Compliance Programs	28%	- Monitoring, reporting and record keeping 1. Legal record retention requirements 2. Suspicious activity reporting (SAR/STR) 3. Transaction monitoring and alert management - Training, awareness and internal communication - Audit, testing and continuous improvement - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification
Topic 2: Understanding Risks and Methods of Financial Crime	26%	- Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Sanctions regimes and compliance risks 1. Risk identification and mitigation 2. UN, EU, OFAC frameworks - Terrorism financing and proliferation financing 1. Distinctions from money laundering 2. Sources and mechanisms - Money laundering stages and techniques 1. Methods across financial sectors and businesses 2. Placement, layering, integration
Topic 3: Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Governance, accountability and ethics 1. Ethical obligations and professional standards 2. Roles of board, senior management and compliance function - Regional and national regulations 1. EU AML Directives 2. USA PATRIOT Act and extraterritorial laws - International standards and bodies 1. Basel Committee, Wolfsberg Group, UN conventions 2. FATF 40 Recommendations
Topic 4: Tools, Technologies and Investigations	22%	- Technology and systems 1. Cryptoasset and virtual asset compliance 2. Monitoring systems, screening tools, data analytics - Remediation and response 1. Corrective actions and regulatory engagement - Investigation processes and evidence handling 1. Cooperation with authorities and information sharing 2. Case management and escalation

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Free PDF ACAMS - CAMS7 - High Pass-Rate Exam Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Actual Tests

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q418-Q423):

NEW QUESTION # 418
Which of the options below is an indicator of potential insider activity that may warrant escalation For further investigation?

A. An If employee shares information about a firm's risk management framework with employees of other firms at an industry convention.
B. A relationship manager advocates for overriding the results of the company's client risk rating model that resulted in a client's high-risk rating.
C. An investigator does not complete the automated transaction monitoring system alerts assigned to them before the time required by company procedures.
D. A relationship manager makes an exception to company policy and proceeds with onboarding a customer without documenting a passport for customer identification

Answer: B

NEW QUESTION # 419
A large international financial institution (FI) operates in both the United States and the European Union. A cross-border transaction involving a high-net-worth client with dual U.S. and French citizenship raises concerns due to a third-party intermediary in a high-risk jurisdiction.
Given that the transaction falls under the U.S. Bank Secrecy Act (BSA) and OFAC requirements, as well as the EU's 6th Anti-Money Laundering Directive (6AMLD) and European Banking Authority (EBA) regulations, what is the best approach for the compliance team to ensure compliance?

A. Follow U.S. regulations only, as the transaction originates in the United States
B. Defer to the most stringent regulatory regime to streamline compliance
C. Follow EU regulations only, as the beneficiary is based in France
D. Implement a dual-compliance approach satisfying both U.S. and EU AFC regulations

Answer: D

Explanation:
For multinational financial institutions, regulatory expectations are clear: institutions must comply with all applicable laws and regulations in each jurisdiction where they operate or where a transaction has regulatory touchpoints.
In this case, the transaction is subject to both U.S. and EU AML/CFT frameworks, including BSA reporting obligations, OFAC sanctions screening, 6AMLD requirements, and EBA supervisory expectations.
Selecting only one regulatory regime would expose the institution to compliance failures and enforcement risk.
A dual-compliance approach ensures that reporting, sanctions screening, customer due diligence, and record- keeping obligations are met in both jurisdictions. This approach aligns with FATF principles on cross-border compliance and consolidated supervision.
Deferring to the "most stringent" regime is not sufficient, as different rules may apply to different aspects of the transaction. Therefore, simultaneous compliance is required.

NEW QUESTION # 420
Section 319(a) of the USA PATRIOT Act:

A. Requires due diligence, and in certain situations enhanced due diligence (EDD), for foreign correspondent accounts, which includes virtually all account relationships that organizations can have with a foreign financial organization and private banking for non-citizens of the U.S.
B. Permits the U.S. Government to seize funds from a correspondent bank account in the U.S. that has been opened and maintained for a foreign bank in the same amount as has been deposited with the foreign bank.
C. Allows the appropriate federal banking agency to require a financial organization to produce, within
120 hours, records or information related to the organization's AML compliance or related to a customer of the organization or any account opened, maintained, administered, or managed in the U.S.
by the financial organization.
D. Provides the U.S. Department of Treasury with the authority to apply graduated, proportionate measures against a foreign jurisdiction, foreign financial organization, type of international transaction, or type of account.

Answer: B

NEW QUESTION # 421
Which criminal activities could possibly serve as a predicate offense to financial crimes or money laundering activity? (Select Three.)

A. Assault
B. Fraud
C. Arson
D. Bribery or corruption
E. Organized crime or racketeering

Answer: B,D,E

Explanation:
Predicate offenses are crimes that generate proceeds which may subsequently be laundered.
FATF standards and national AML laws define a wide range of serious crimes as predicate offenses.
Bribery and corruption are among the most common predicate offenses, often involving large illicit payments that require laundering to disguise their origin. Fraud, including financial, consumer, and corporate fraud, is another primary source of illicit proceeds and is universally recognized as a predicate offense.
Organized crime and racketeering encompass coordinated criminal activities designed to generate ongoing illegal income, making them central predicate offenses under AML frameworks.
While arson may be considered a serious crime in some jurisdictions, and assault is generally not associated with financial gain, AML regimes focus primarily on crimes that generate substantial proceeds. Therefore, bribery, fraud, and organized crime are the most consistently recognized predicate offenses across jurisdictions.

NEW QUESTION # 422
Which regulation permits financial institutions, upon providing notice to the US Department of the Treasury, to share information with one another in order to identify and report activities that may involve money laundering or terrorist activity to the federal government?

A. USA Patriot Act Section 314(b)
B. USA Patriot Act Section 314(a)
C. Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (COSMIC)
D. Regulation (EU) 2024/1624 of the European Parliament

Answer: A

Explanation:
USA PATRIOT Act Section 314(b)allows financial institutions tovoluntarily share information with one another, after notifying the U.S. Treasury, toidentify and report possible money laundering or terrorist financing activities.
Key elements include:
Voluntary participation
Prior notice to FinCEN (part of the U.S. Treasury)
Protection from liability when acting in good faith
Enhanced collaborative detection across institutions
Section 314(a)refers toinformation sharing between law enforcement and financial institutions, not peer-to-peer sharing.
COSMICis an initiative in certain jurisdictions like Singapore, not U.S. regulation.
Regulation (EU) 2024/1624is part of the EU AML framework, not relevant to U.S. institutions.

NEW QUESTION # 423
......

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