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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Global AFC Frameworks, Governance and Regulations- AML Regulatory Framework (Elective options: Canada, EU, UK, USA)
Topic 2: Building an AFC Compliance Program
Topic 3: Understanding Risks and Methods of Financial Crime30%- Financial Crime Risks related to gatekeepers
- Financial Crime Risks related to gaming and gambling
- Financial Crime Risks related to insurance products
- Financial Crime Risks related to real estate
- Financial Crime Risks related to products within other financial sectors
- Financial Crime Risks related to MSBs, PSPs, and ecommerce platforms
- Financial Crime Risks related to trusts and company service providers
- Financial Crime Risks related to Politically Exposed Persons (PEPs) and high-risk customers
- Financial Crime Risks related to VASPs, cryptoassets, and related products
Topic 4: Tools and Technologies to Fight Financial Crime

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q153-Q158):

NEW QUESTION # 153
A large international financial institution (FI) operates in both the United States and the European Union. A cross-border transaction involving a high-net-worth client with dual U.S. and French citizenship raises concerns due to a third-party intermediary in a high-risk jurisdiction.
Given that the transaction falls under the U.S. Bank Secrecy Act (BSA) and OFAC requirements, as well as the EU's 6th Anti-Money Laundering Directive (6AMLD) and European Banking Authority (EBA) regulations, what is the best approach for the compliance team to ensure compliance?

Answer: C

Explanation:
For multinational financial institutions, regulatory expectations are clear: institutions must comply with all applicable laws and regulations in each jurisdiction where they operate or where a transaction has regulatory touchpoints.
In this case, the transaction is subject to both U.S. and EU AML/CFT frameworks, including BSA reporting obligations, OFAC sanctions screening, 6AMLD requirements, and EBA supervisory expectations.
Selecting only one regulatory regime would expose the institution to compliance failures and enforcement risk.
A dual-compliance approach ensures that reporting, sanctions screening, customer due diligence, and record- keeping obligations are met in both jurisdictions. This approach aligns with FATF principles on cross-border compliance and consolidated supervision.
Deferring to the "most stringent" regime is not sufficient, as different rules may apply to different aspects of the transaction. Therefore, simultaneous compliance is required.


NEW QUESTION # 154
Which AML control is MOST effective in identifying unusual transaction patterns automatically?

Answer: B

Explanation:
Automated transaction monitoring systems analyze large volumes of customer activity to detect anomalies, patterns, and suspicious behaviors. Effective systems use rules, scenarios, and risk indicators to identify potential money laundering or terrorist financing activity for further investigation by compliance staff.


NEW QUESTION # 155
Assessing the money laundering risk related to a product within the financial sector includes assessing the:
(Select Two.)

Answer: A,D

Explanation:
* Governance arrangements (A):"Sound governance and risk management arrangements are fundamental to assessing and managing ML/TF risk in products and services."(CAMS 6th Edition, Risk-Based Approach for Products and Services)
* Complexity of the products (B):"Complexity increases risk-products that are highly complex, opaque, or allow for multiple layers or jurisdictions are more vulnerable to misuse for ML/TF."(CAMS 6th Edition, Product Risk Assessment) Incorrect Options:
* C: Last audit results inform program effectiveness, not inherent product risk.
* D: Business financial status is considered in customer risk assessment, not product risk.
References:
CAMS 6th Edition, Product and Service Risk Assessment
FATF Guidance on Risk-Based Approach for Financial Institutions


NEW QUESTION # 156
The transaction monitoring system of a bank generated an alert for a car wash client. After making large cash deposits, the client orders international wire transfers.
Which additional circumstances would make the case more suspicious?

Answer: C

Explanation:
The suspicion increases when the beneficiary is a foreign company whose shareholders and director are other companies, as this can indicate the use of layered corporate structures to obscure the ultimate beneficial owner and conceal illicit fund flows.


NEW QUESTION # 157
Which line of defense would be tasked with interpreting new AML regulations and revising training for client- facing relationship managers?

Answer: C

Explanation:
The second line of defense is responsible for compliance functions, including interpreting new AML regulations and updating policies, procedures, and training programs. This ensures that client-facing staff, such as relationship managers, remain informed and aligned with regulatory expectations.


NEW QUESTION # 158
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