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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Detecting and Preventing Financial Crime	20%	- Investigations and enforcement 1. Case management and documentation 2. Regulatory investigations - Financial crime typologies 1. Fraud and corruption schemes 2. Trade-based money laundering
AML Compliance Framework	25%	- Roles and responsibilities 1. Compliance officer duties 2. Governance and oversight - Compliance program components 1. Policies and procedures 2. Internal controls
Money Laundering and Terrorist Financing Concepts	30%	- Global AML/CFT standards 1. International regulatory frameworks 2. FATF Recommendations - Definitions and stages of money laundering 1. Terrorist financing typologies 2. Placement, layering, integration
Risk Management and Due Diligence	25%	- Customer Due Diligence (CDD/KYC) 1. Enhanced due diligence (EDD) 2. Customer identification programs (CIP) - Transaction monitoring and reporting 1. Suspicious Activity Reports (SAR/STR) 2. Monitoring systems and typologies

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q303-Q308):

NEW QUESTION # 303
A bank receives negative media reports alleging corruption involving an existing customer who is a government official. What should occur FIRST?

A. Automatically approve additional accounts
B. Publicly disclose the customer relationship
C. Conduct a risk reassessment and enhanced review
D. Immediately ignore the reports unless convicted

Answer: C

Explanation:
Negative media involving corruption allegations can materially affect customer risk ratings.
Institutions should reassess risk exposure, review transaction activity, and determine whether enhanced due diligence or escalation is necessary. A criminal conviction is not required before conducting additional AML review.

NEW QUESTION # 304
The key strengths of public-private partnerships (PPP) in anti-financial crime efforts include:
(Select Two.)

A. Improving the speed of action in identifying and mitigating financial crime risks
B. Providing a legal framework for financial institutions to avoid liability when sharing information
C. Eliminating the need for organizations to conduct their own due diligence
D. Enhancing information-sharing capabilities between governments and financial institutions

Answer: A,D

Explanation:
Public-private partnerships (PPPs) are widely recognized in AML/CFT frameworks, including FATF guidance, as an effective mechanism to combat financial crime. One key strength of PPPs is improving the speed of action in identifying and responding to emerging financial crime risks.
By facilitating closer collaboration, PPPs enable faster detection of typologies, threats, and vulnerabilities across the financial system.
Another major strength is enhanced information-sharing between governments and financial institutions. PPPs allow public authorities to share strategic intelligence and red flag indicators, while private institutions contribute operational insights from real transaction data. This two-way exchange improves the overall quality of financial crime detection and prevention.
While some PPPs operate within legal information-sharing frameworks, they do not eliminate liability entirely, nor do they remove the obligation for institutions to comply with data protection laws. Importantly, PPPs do not replace an institution's responsibility to conduct its own customer due diligence. Each participating organization remains accountable for maintaining independent AML controls.

NEW QUESTION # 305
The recently appointed senior money laundering reporting officer (MLRO) at a newly opened small digital bank has been instructed by the group chief compliance officer to implement an effective AML transaction monitoring system that can identify unusual and suspicious transactions.
What are important considerations for the project to select and implement the AML transaction monitoring system at the digital bank? (Select Two.)

A. Whether the vendor has documented appropriate internal controls for designing system and data integration schema
B. Whether the permissions and user access settings for reviewing, investigating, and reporting details of alerts generated by the system are commensurate with those in use at other banks
C. Whether the monitoring system is adequate with respect to the bank's size, activities, complexity, and risks
D. Whether the monitoring system can be configured to enable the bank to execute trend analysis of transaction activity and to identify unusual business relationships and transactions

Answer: C,D

Explanation:
C: "The system must be adequate and proportionate to the bank's size, activities, complexity, and risk profile.
A one-size-fits-all solution is not appropriate."
D: "Effective monitoring systems should support the detection of unusual trends and business relationships, facilitating meaningful analysis and alerts."(CAMS 6th Edition, Transaction Monitoring System Requirements) Incorrect:
A: Vendor internal controls are important, but not a top selection criterion for AML system effectiveness.
B: Permissions should be appropriate for the bank's structure, not just compared to other banks.
References:
CAMS 6th Edition, Selecting and Implementing Monitoring Systems

NEW QUESTION # 306
Which of the following conditions contribute to a politically exposed person (PEP) posing greater risk than a typical high-risk bank customer? (Select Two.)

A. PEPs are granted unlimited credit and financial immunity under international banking regulations.
B. The family members and close associates of PEPs may be involved in illicit activities.
C. PEPs can have illegitimate fund sources but are legally protected from having their accounts closed for activities outside a bank's risk appetite.
D. PEPs may exploit embassy activities to conceal bribery and corruption transactions.

Answer: B,D

Explanation:
PEPs are recognized by CAMS 6th Edition and FATF as posing elevated risk due to:
A). The family members and close associates of PEPs may be involved in illicit activities:"The risks extend beyond the PEP to family members and close associates, who may be used to conceal the movement of illicit funds." C). PEPs may exploit embassy activities to conceal bribery and corruption transactions:"PEPs may use their position or diplomatic privileges, such as embassy operations, to disguise or facilitate the movement of illicit funds."

NEW QUESTION # 307
The compliance officer at an EU bank is investigating one of the customer accounts maintained with the bank for the last two years. According to bank records, the company's primary economic activity is import and export of petrochemical products Over a period of one year, the account transactions have exceeded US$500 million with various high-value inward wire transfers received from suppliers in Yemen followed by outward wire transfers to counterparties in Azerbaijan. Which factor should give the compliance officer the greatest concern If observed in the investigation?

A. Media searches reveal a report that the customer was accused of misconduct three years ago.
B. The customer specializes in the import and export of petrochemical products.
C. The EU bank received no originator or beneficiary information for the wire transfers.
D. The customer's activity includes multiple cross-border transactions involving various counterparties.
E. The EU bank considers the origin and destination countries Involved in the transactions to be high-risk.

Answer: C

NEW QUESTION # 308
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