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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Building and Managing Anti-Financial Crime Compliance Programs28%- Training, awareness and internal communication
- Monitoring, reporting and record keeping
  • 1. Legal record retention requirements
  • 2. Transaction monitoring and alert management
  • 3. Suspicious activity reporting (SAR/STR)
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- Audit, testing and continuous improvement
- Customer due diligence and know-your-customer
  • 1. CDD, EDD, beneficial ownership identification
  • 2. politically exposed persons and high-risk clients
Understanding Risks and Methods of Financial Crime26%- Terrorism financing and proliferation financing
  • 1. Distinctions from money laundering
  • 2. Sources and mechanisms
- Sanctions regimes and compliance risks
  • 1. Risk identification and mitigation
  • 2. UN, EU, OFAC frameworks
- 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
Global Anti-Financial Crime Frameworks, Governance and Regulations24%- International standards and bodies
  • 1. Basel Committee, Wolfsberg Group, UN conventions
  • 2. FATF 40 Recommendations
- Governance, accountability and ethics
  • 1. Roles of board, senior management and compliance function
  • 2. Ethical obligations and professional standards
- Regional and national regulations
  • 1. EU AML Directives
  • 2. USA PATRIOT Act and extraterritorial laws
Tools, Technologies and Investigations22%- Remediation and response
  • 1. Corrective actions and regulatory engagement
- Investigation processes and evidence handling
  • 1. Case management and escalation
  • 2. Cooperation with authorities and information sharing
- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q362-Q367):

NEW QUESTION # 362
How do national risk assessments (NRAs) and sectoral risk assessments influence a financial institution's (FI's) internal AML/CFT risk assessment?

Answer: B

Explanation:
FATF standards require financial institutions to adopt a risk-based approach (RBA) that is informed by national and sectoral risk assessments. These assessments identify key threats, vulnerabilities, and typologies within a jurisdiction or industry and provide essential context for institutional risk management.
Financial institutions must reference and align their internal AML/CFT risk assessments with the findings of NRAs and sectoral assessments. This means demonstrating awareness of identified risks and showing how these risks are mitigated through policies, controls, and procedures.
However, institutions are not required to copy or mechanically apply the exact methodologies, weightings, or conclusions of these assessments. Each institution must tailor its risk assessment to its own business model, customer base, products, services, and geographic exposure.
Board oversight is required, but NRAs do not dictate how internal assessments must be written or approved. The key regulatory expectation is alignment, awareness, and effective risk management--not rigid adoption.


NEW QUESTION # 363
A compliance manager at a virtual asset service provider (VASP) is evaluating its business and its impact on AML policies. Which of the following features of the VASP's business would be of greatest concern? (Select Four.)

Answer: A,B,C,D


NEW QUESTION # 364
Which of the following ate efficient approaches lo performing horizon scanning? (Select Two.)

Answer: A,C


NEW QUESTION # 365
An insurance company receives an application for a high-value life insurance policy from a new non- resident client. The payout instruction is linked to an offshore trust in another jurisdiction to which the client has no obvious connection. The client insists on paying premiums via multiple transactions to "avoid bank charges." The client is reportedly unemployed with minimal assets, which is inconsistent with the policy value. Which financial crime risk should the insurance company be most concerned with?

Answer: A

Explanation:
This scenario presents multiple classic money laundering red flags, particularly within the life insurance sector, which is recognized by FATF as vulnerable to misuse due to its investment and payout features.
The use of an offshore trust in a jurisdiction with no clear link to the customer raises concerns about concealment of beneficial ownership and layering. Criminals frequently use trusts and offshore structures to obscure the origin and destination of illicit funds.
The client's request to split premium payments into multiple transactions to avoid bank charges is indicative of structuring, a known money laundering technique used to evade monitoring and reporting thresholds.
Furthermore, the lack of a legitimate source of wealth or income consistent with the high-value policy is a significant red flag. Purchasing high-value insurance products with no apparent financial means is a common placement method for laundering illicit proceeds.
While fraud or sanctions evasion could be relevant in other contexts, the combination of structuring, unexplained wealth, offshore structures, and non-residency most strongly indicates money laundering risk.


NEW QUESTION # 366
Which of the following are considered best practices regarding senior management involvement in a financial crime compliance program? (Choose two.)

Answer: A,C

Explanation:
Best practices for senior management involvement include setting the tone from the top to promote a strong compliance culture and establishing clear criteria for escalations, ensuring that significant financial crime issues are promptly brought to their attention for action.


NEW QUESTION # 367
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