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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q192-Q197):

NEW QUESTION # 192
Fuzzy logic or fuzzy matching in the context of name screening is a method that:

A. Uses machine learning to predict names based on historical data
B. Matches names with the same length and characters
C. Matches names on screening lists to names with similar spellings, patterns, or sounds
D. Relies exclusively on exact string matches

Answer: C

Explanation:
Fuzzy matching is a critical technique used in name screening systems to identify potential matches where names are not spelled identically. Regulators recognize that sanctions, PEP, and watchlist screening must account for variations in spelling, transliteration, abbreviations, and phonetic differences.
Fuzzy matching algorithms compare names based on similar spelling patterns, phonetics, or character arrangements, allowing institutions to detect matches that exact matching would miss.
This is especially important for names originating from different languages or alphabets.
Exact matching alone is insufficient for effective sanctions screening, as it would fail to capture common variations. While machine learning may enhance screening systems, fuzzy matching itself does not rely on predictive modeling.
Therefore, fuzzy matching improves detection effectiveness while supporting regulatory expectations for robust screening controls.

NEW QUESTION # 193
A client advisor at a bank contacts a member of the compliance team for guidance on how to proceed with a client who wants to transfer US$250,000 from the sale of cryptoassets into their savings account at the bank.
What guidance should the compliance team provide?

A. Advise further clarification is necessary, including which coins or tokens were sold and whether the crypto exchange conducts due diligence on its clients
B. Confirm to the advisor that the customer can proceed with the transaction if the client's KYC is up to date and a search on a public blockchain explorer does not provide any adverse media hits
C. Confirm to the advisor that the customer can proceed with the transaction because clients are already correctly onboarded KYC is complete and the source of funds is transparent
D. Advise that the transaction should be stopped because cryptoassets in general are not regulated and by definition pose an unacceptable AML risk for the bank

Answer: A

Explanation:
The compliance team should request further clarification to assess the AML risk appropriately. This includes understanding which cryptoassets were sold and whether the exchange used applies adequate due diligence.
These details help determine the legitimacy of the source of funds and ensure compliance with AML requirements.

NEW QUESTION # 194
A compliance officer at a U.S. financial institution receives a grand jury subpoena requesting customer records related to an ongoing money laundering investigation involving a politically exposed person (PEP).
What should the compliance officer do first?

A. Immediately provide records to the grand jury
B. Consult with the institution's legal counsel to assess validity and determine the appropriate response
C. File a Suspicious Activity Report (SAR) describing receipt of the subpoena
D. Notify the customer and seek consent

Answer: B

Explanation:
When a financial institution receives a grand jury subpoena, it is legally compelled to respond, but must do so in a controlled, lawful, and coordinated manner.
The first step is to consult with legal counsel to verify the subpoena's validity, scope, deadlines, and confidentiality requirements. Legal counsel ensures the institution responds accurately, protects privileged information, and complies with applicable laws.
Notifying the customer would constitute tipping off, which is prohibited. Immediate disclosure without legal review may result in over-disclosure or violation of customer privacy laws. Filing a SAR may be appropriate depending on the facts, but it is not the first step and must not reference the subpoena.
This approach aligns with U.S. AML, BSA, and law enforcement cooperation requirements.

NEW QUESTION # 195
A committee should have a clear and precise definition of its mandate to ensure effective function and governance, set out in a document often referred to as the Terms of Reference (ToR). Which key features are generally included in the Terms of Reference? (Select Three.)

A. Organization chart of the attendees
B. Delegation of authority
C. Company culture and values
D. Extent of power and decision-making abilities
E. Composition and structure

Answer: B,D,E

Explanation:
Terms of Reference (ToR) are a fundamental governance document that define how a committee operates, makes decisions, and fulfills its responsibilities. Regulatory guidance and corporate governance best practices emphasize clarity and accountability in committee mandates.
The extent of power and decision-making authority must be clearly defined to ensure members understand what decisions they are authorized to make and where escalation is required. This prevents overlaps or governance gaps.
The composition and structure of the committee, including membership criteria and roles, ensures appropriate expertise and representation. This is essential for effective oversight, particularly in AML/CFT and risk committees.
Delegation of authority outlines how responsibilities may be assigned or escalated, supporting efficient decision-making while maintaining accountability.
Organization charts and company culture statements are not typically core components of a ToR, as they do not define operational authority or governance mechanics.

NEW QUESTION # 196
A national risk assessment (NRA) can impact the risk-based approach (RBA) within an organization's anti- financial crime (AFC) compliance program by: (Choose two.)

A. helping to identify high-risk sectors that require enhanced due diligence (EDO),
B. guiding the allocation of resources for mitigating financial crime risks
C. eliminating the need for sectoral risk assessments within the organization
D. automatically reducing the organization's responsibility for conducting its own risk assessment
E. requiring all organizations to apply standardized measures

Answer: A,B

Explanation:
A national risk assessment can identify high-risk sectors requiring enhanced due diligence and guide resource allocation to mitigate financial crime risks effectively, helping organizations align their risk-based approach with national priorities and threats.

NEW QUESTION # 197
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