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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Building and Managing Anti-Financial Crime Compliance Programs28%- Training, awareness and internal communication
- Monitoring, reporting and record keeping
  • 1. Transaction monitoring and alert management
  • 2. Legal record retention requirements
  • 3. Suspicious activity reporting (SAR/STR)
- Customer due diligence and know-your-customer
  • 1. politically exposed persons and high-risk clients
  • 2. CDD, EDD, beneficial ownership identification
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- Audit, testing and continuous improvement
Topic 2: Tools, Technologies and Investigations22%- Investigation processes and evidence handling
  • 1. Cooperation with authorities and information sharing
  • 2. Case management and escalation
- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance
- Remediation and response
  • 1. Corrective actions and regulatory engagement
Topic 3: Global Anti-Financial Crime Frameworks, Governance and Regulations24%- Regional and national regulations
  • 1. EU AML Directives
  • 2. USA PATRIOT Act and extraterritorial laws
- Governance, accountability and ethics
  • 1. Ethical obligations and professional standards
  • 2. Roles of board, senior management and compliance function
- International standards and bodies
  • 1. Basel Committee, Wolfsberg Group, UN conventions
  • 2. FATF 40 Recommendations
Topic 4: Understanding Risks and Methods of Financial Crime26%- Terrorism financing and proliferation financing
  • 1. Sources and mechanisms
  • 2. Distinctions from money laundering
- Sanctions regimes and compliance risks
  • 1. Risk identification and mitigation
  • 2. UN, EU, OFAC frameworks
- Money laundering stages and techniques
  • 1. Methods across financial sectors and businesses
  • 2. Placement, layering, integration
- Financial crime risks and consequences
  • 1. Institutional, individual, economic and social impacts

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q68-Q73):

NEW QUESTION # 68
Challenges in the implementation of new technologies for AML/CFT include: (Select Four.)

Answer: A,B,E,F

Explanation:
Key challenges in adopting new AML/CFT technologies are:
A: Data privacy-new tech often requires processing more personal data, raising privacy/regulatory concerns.
C: The Travel Rule-meeting global standards for information sharing in payments is a technology challenge.
D: Data quality-effective systems rely on accurate, comprehensive, timely data.
E: Complexity-integrating and managing new technology can increase operational complexity.(CAMS 6th Edition, Technology in AML/CFT; FATF Guidance on Digital ID and Fintech) References:
CAMS 6th Edition, AML/CFT Technology and Implementation Challenges
FATF, "Opportunities and Challenges of New Technologies for AML/CFT" (2021)


NEW QUESTION # 69
Which of the following are AML risks associated with onboarding a high-risk customer? (Select Two.)

Answer: B,C

Explanation:
High-risk customers present elevated money laundering and terrorist financing risks, requiring careful consideration before onboarding. FATF guidance emphasizes that higher-risk relationships demand stronger controls due to their increased vulnerability to misuse.
One key risk is the greater potential for laundering illicit proceeds. High-risk customers may operate in sectors, jurisdictions, or business models that are frequently abused for financial crime, increasing the likelihood that illicit funds could pass through the institution.
Another significant risk is the increased likelihood of involvement in financial crimes, either directly or indirectly. This may include exposure to corruption, fraud, sanctions evasion, or organized crime networks.
Enhanced due diligence is not a risk but rather a risk-mitigating control imposed by regulators. Reduced regulatory scrutiny is incorrect, as high-risk customers are subject to greater-not lesser-oversight.


NEW QUESTION # 70
Interactions between the compliance department and other functions or departments within an organization contribute to making the anti-financial crime (AFC) compliance program more robust by addressing specific risk areas. Which departments play a crucial role in enhancing the AFC compliance program of an organization? (Select Two.)

Answer: A,D

Explanation:
A (ISO): Ensures information security controls are aligned with AFC efforts, protecting sensitive data and reducing the risk of cyber-enabled financial crime.
D (DPO): Helps ensure compliance with data privacy laws and enables secure, lawful information- sharing for AML purposes.
"Collaboration with the ISO and DPO is critical to maintaining data security and privacy within AFC compliance frameworks."


NEW QUESTION # 71
Which of the following statements describe the strengths associated with public-private partnerships (PPPs)?
(Choose two.)

Answer: A,D

Explanation:
Public-private partnerships allow public organizations to gain insights from the private sector to shape effective policies and legislation. Additionally, strong data protection and privacy frameworks help create secure information-sharing protocols within PPPs, enhancing collaboration while preventing unauthorized access.


NEW QUESTION # 72
Which factor generally increases geographic AML risk?

Answer: A

Explanation:
Jurisdictions with high corruption, limited regulatory oversight, and weak AML enforcement present elevated money laundering risks. Criminal organizations often exploit such environments to conceal illicit funds. Geographic risk assessments should consider sanctions exposure, corruption indices, terrorism concerns, and international AML compliance evaluations.


NEW QUESTION # 73
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