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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Understanding Risks and Methods of Financial Crime	26%	- Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses - Sanctions regimes and compliance risks 1. Risk identification and mitigation 2. UN, EU, OFAC frameworks - Terrorism financing and proliferation financing 1. Distinctions from money laundering 2. Sources and mechanisms
Tools, Technologies and Investigations	22%	- Remediation and response 1. Corrective actions and regulatory engagement - Technology and systems 1. Monitoring systems, screening tools, data analytics 2. Cryptoasset and virtual asset compliance - Investigation processes and evidence handling 1. Case management and escalation 2. Cooperation with authorities and information sharing
Building and Managing Anti-Financial Crime Compliance Programs	28%	- Audit, testing and continuous improvement - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Monitoring, reporting and record keeping 1. Transaction monitoring and alert management 2. Suspicious activity reporting (SAR/STR) 3. Legal record retention requirements - Training, awareness and internal communication - Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification
Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Regional and national regulations 1. USA PATRIOT Act and extraterritorial laws 2. EU AML Directives - International standards and bodies 1. FATF 40 Recommendations 2. Basel Committee, Wolfsberg Group, UN conventions - Governance, accountability and ethics 1. Ethical obligations and professional standards 2. Roles of board, senior management and compliance function

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q29-Q34):

NEW QUESTION # 29
Money laundering can have a profound impact on the global economy that includes:

A. Declining money supplies
B. Increased sectoral polarization
C. Destabilization of legitimate governments
D. Increased inflation and low economic growth

Answer: C

Explanation:
Money laundering has far-reaching consequences that extend beyond individual institutions and directly affect national and global economic stability. FATF and international bodies consistently highlight that large-scale money laundering can undermine political and economic systems.
One of the most significant impacts is the destabilization of legitimate governments. Money laundering enables organized crime, corruption, and terrorist financing, which can weaken public institutions, distort policy-making, and erode public trust. In extreme cases, criminal organizations gain influence over governments, law enforcement, or key economic sectors.
While money laundering can indirectly affect inflation and growth, it does not directly cause declining money supplies. "Sectoral polarization" is not a standard or widely recognized economic impact in AML literature. The most consistently recognized systemic consequence is the erosion of governance, rule of law, and institutional integrity.
Therefore, destabilization of legitimate governments is the most accurate and regulator-supported answer.

NEW QUESTION # 30
What are the primary advantages of using open-source tools in financial crime investigations? (Choose two.)

A. Ability to conduct investigations with minimal human oversight
B. Partial automation of data collection and analysis
C. Real-time monitoring of selected transactions and data sources
D. Enhanced ability to identity connections across various data sets
E. Cost-effective access to a wide range of data

Answer: B,E

Explanation:
Open-source tools offer cost-effective access to diverse data sources, making them valuable for financial crime investigations. They also support partial automation of data collection and analysis, reducing manual effort and improving efficiency in identifying suspicious patterns or links.

NEW QUESTION # 31
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. The customer specializes in the import and export of petrochemical products.
B. The EU bank received no originator or beneficiary information for the wire transfers.
C. The EU bank considers the origin and destination countries Involved in the transactions to be high-risk.
D. Media searches reveal a report that the customer was accused of misconduct three years ago.
E. The customer's activity includes multiple cross-border transactions involving various counterparties.

Answer: B

NEW QUESTION # 32
Business entities established in offshore financial centers (OFCs) pose unique risks for money laundering because they often:

A. have informal business arrangements between persons or entities.
B. have limited organizational disclosure and recordkeeping requirements for establishing these business entities.
C. are located in geographies that are not accountable to US laws.
D. include trusts, investment funds, and insurance companies.

Answer: B

Explanation:
Business entities in offshore financial centers often pose money laundering risks due to limited organizational disclosure and recordkeeping requirements, which can obscure beneficial ownership and make it easier to conceal illicit financial activities.

NEW QUESTION # 33
Having a risk-based approach is central to a financial institution understanding the money laundering and terrorist financing risk to which they are exposed. The development of a money laundering and terrorist financing risk assessment is a key starting point.
Commonly used risk factors include. (Select Three.)

A. product risk.
B. liquidity risk.
C. customer risk.
D. credit risk.
E. geographic risk.

Answer: A,C,E

Explanation:
The CAMS 6th Edition clearly identifies a risk-based approach as the cornerstone of effective AML/CFT programs. Risk assessments should consider various risk factors that directly influence exposure to ML/TF.
Product risk (A): Certain products or services may present higher ML/TF risks, such as private banking, correspondent banking, or cash-intensive products."Products and services offered, and their inherent risk levels, must be assessed as part of the risk-based approach."(CAMS 6th Edition, AML Compliance Program, Risk Assessment) Geographic risk (C): Jurisdictions where the customer operates or where transactions are conducted may present higher or lower risks due to factors such as weak AML regulations or high corruption."Geographic risk considers where a customer is located and/or where transactions occur, referencing countries with increased risk, such as those identified by the FATF."(CAMS 6th Edition, Risk Assessment Factors) Customer risk (D): The type of customer, such as PEPs, non-residents, or companies with complex structures, may present higher ML/TF risks."Customer risk assessment is based on the customer's profile, activity, and ownership structure, and is a critical component in risk-based monitoring."(CAMS 6th Edition, CDD/EDD) Incorrect Options:
B (Credit risk): Related to creditworthiness, not ML/TF.
E (Liquidity risk): Refers to a firm's ability to meet financial obligations; not an AML risk factor.
References:
CAMS Study Guide 6th Edition, AML Compliance Program, "Risk-Based Approach" FATF Guidance: National Money Laundering and Terrorist Financing Risk Assessment (2013)

NEW QUESTION # 34
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