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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Tools, Technologies and Investigations	22%	- 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 - Investigation processes and evidence handling 1. Case management and escalation 2. Cooperation with authorities and information sharing
Topic 2: Understanding Risks and Methods of Financial Crime	26%	- Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses - 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. Sources and mechanisms 2. Distinctions from money laundering
Topic 3: Building and Managing Anti-Financial Crime Compliance Programs	28%	- Program framework and policies 1. Policies, procedures and controls design 2. Risk assessment and risk-based approach - Audit, testing and continuous improvement - 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) - Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification
Topic 4: Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- International standards and bodies 1. Basel Committee, Wolfsberg Group, UN conventions 2. FATF 40 Recommendations - 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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q117-Q122):

NEW QUESTION # 117
Which of the following measures can help maintain the independence of BSA/AML compliance staff to ensure effective compliance controls?

A. Ensuring BSA/AML compliance staff is primarily outsourced
B. Providing BSA/AML compliance staff with a reporting line to the chief financial officer
C. Establishing BSA/AML compliance staff reporting to the management of the business line in the first line of defense
D. Providing BSA/AML compliance staff a reporting line to compliance or other second line of defense internal control function

Answer: D

Explanation:
BSA/AML compliance staff should report to the compliance function or another second line of defense internal control function to maintain independence from business line management, ensuring objective oversight and effective compliance controls.

NEW QUESTION # 118
A deficiency in the design of a bank's AML/CFT compliance program could result in placing individual accountability on which part of the regulated entity? (Select Two.)

A. Product oversight committee
B. Board of directors
C. The compliance department
D. Senior management

Answer: B,D

Explanation:
Regulatory frameworks and enforcement actions consistently emphasize individual accountability at the highest levels of governance when AML/CFT compliance programs are deficient in design or implementation.
The board of directors is ultimately responsible for oversight of the institution's AML/CFT framework. This includes approving policies, setting risk appetite, and ensuring that adequate resources and governance structures are in place. Failure to fulfill these responsibilities can result in regulatory findings and personal accountability.
Senior management is responsible for implementing the board-approved AML/CFT strategy and ensuring that controls operate effectively in practice. This includes overseeing compliance functions, addressing identified weaknesses, and ensuring timely remediation. Deficiencies in program design-such as inadequate risk assessments or ineffective controls-often lead regulators to hold senior management accountable.
While the compliance department plays an important role in execution and advisory functions, accountability for program design and effectiveness rests with the board and senior management, not committees or individual departments.

NEW QUESTION # 119
Technology has the potential to increase the efficiency and effectiveness of AML/CFT workflows by: (Select Two.)

A. Allowing for automatic one-stop searches at the front end by analysts
B. Minimizing privacy concerns through minimized human intervention
C. Minimizing human intervention in repetitive tasks, increasing data accuracy
D. Eliminating backlogs through the ability to process large volumes of data

Answer: C,D

Explanation:
Technology plays a critical role in strengthening AML/CFT programs by improving efficiency, consistency, and scalability. Regulators encourage the responsible use of technology while maintaining governance and oversight.
One major benefit is processing large volumes of data efficiently, helping institutions eliminate investigative backlogs and manage increasing transaction volumes. Technology also automates repetitive tasks, reducing human error and improving data accuracy, allowing compliance professionals to focus on higher-value investigative work.
Technology does not eliminate privacy concerns, and front-end search tools alone are not sufficient to drive effectiveness. Human oversight remains essential for decision-making, investigations, and regulatory reporting.

NEW QUESTION # 120
Which money laundering risks are posed by the misuse of trust and asset management services? (Select Three.)

A. Allowing for third-party custody safekeeping of funds
B. Establishing escrow accounts for real estate transactions
C. Concealing true legal and beneficial owners
D. Adding a layer of anonymity to transactions
E. Concealing sources of funds

Answer: C,D,E

Explanation:
* A, C, D:
* "Trust and asset management services can facilitate the concealment of the source of funds (A), provide a layer of anonymity to transactions (C), and obscure the true legal and beneficial owners (D). These are well-established ML/TF risks in the private wealth sector."(CAMS 6th Edition, ML/TF Risks in Trust and Asset Management)
* B and E are normal aspects of asset management and are not in themselves ML/TF risks unless combined with other suspicious behaviors.
References:
CAMS 6th Edition, Risks in Trust and Asset Management
FATF Recommendations 24, 25

NEW QUESTION # 121
An employee at a financial institution (FI) suspects that one of their co-workers is involved in a financial investment scam syndicate.
Which step should be taken next by the employee who has the suspicion?

A. Conduct an open-source intelligence investigation using artificial intelligence tools to gain more information on the activities of the suspected employee
B. Report the suspected employee to the line manager of the FI to take the required action
C. Question their co-worker to determine if their suspicions are correct before reporting to the FI's Human Resources department
D. Use the FI's whistleblowing channel to report the suspected employee
E. Warn colleagues and customers of the FI that the employee's suspicious financial investment proposals could be a scam

Answer: D

NEW QUESTION # 122
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