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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q289-Q294):

NEW QUESTION # 289
According to the Financial Action Task Force's (FATF's) "Guidance for a Risk-Based Approach Life Insurance Sector," which of the following are money laundering red flags relating to the involvement of a third party in a life insurance product? (Select Two.)

Answer: A,B

Explanation:
FATF and CAMS 6th Edition highlight certain third-party activities as red flags for money laundering in the life insurance sector:
* Payments are regularly received from third parties that have no apparent relationship with the policy holder (C):"Red flags include payments made by third parties, especially where there is no apparent connection between the third party and the policy holder."(FATF, Risk-Based Approach for Life Insurance Sector, Section IV: Red Flags; CAMS 6th Edition, Customer Due Diligence for Life Insurance)
* A customer names an apparently unrelated third party as a beneficiary (D):"Another warning sign is when beneficiaries have no apparent relation to the policyholder."(FATF, Ibid; CAMS 6th Edition, Life Insurance ML/TF Red Flags) Incorrect Options:
* A: Consulting an attorney is not, by itself, a red flag.
* B: Policy transfer may warrant review but is not specifically a red flag for third-party involvement.
References:
CAMS 6th Edition, Life Insurance ML/TF Risks
FATF, Guidance for a Risk-Based Approach for the Life Insurance Sector (October 2018)


NEW QUESTION # 290
Which risks inherent to real estate sector carry the highest AML/CFT risk? (Select Two.)

Answer: C,E

Explanation:
Real estate ML/TF risk is highest where transparency is low or the origin of funds is obscured:
Use of cash to purchase property (A):"All-cash transactions in real estate present a high ML risk, as they bypass traditional financial scrutiny and facilitate the placement of illicit funds."(CAMS 6th Edition, Real Estate Money Laundering Risks) Use of a company for the purchase of property (D):"Purchasing property through companies, especially shell companies, can conceal the beneficial owner and the true source of funds."(CAMS 6th Edition, Real Estate ML/TF Risks; FATF, Real Estate Sector) Incorrect Options:
B: Unlicensed agents may be risky, but the core risks are A and D.
C: Trusts may add complexity but are less common/high-risk than company structures.
E: Value manipulation is risky but less so than the above.
References:
CAMS 6th Edition, ML/TF Risks in Real Estate
FATF, Money Laundering and Terrorist Financing through the Real Estate Sector


NEW QUESTION # 291
A trade finance customer repeatedly imports goods at prices significantly above market value.
Which typology may this indicate?

Answer: A

Explanation:
Trade-based money laundering often involves over- or under-invoicing goods to move value across borders while disguising illicit proceeds as legitimate trade payments. Inflated pricing without commercial justification is a common red flag. Compliance teams should analyze shipping documents, counterparties, and pricing consistency against market benchmarks.


NEW QUESTION # 292
A bank in the Netherlands has been requested to share information about a series of transactions and related customers with a bank in Italy. Both banks are subject to European Union jurisdiction.
Which factor is the most important to consider before the Dutch bank shares the requested information with the Italian bank?

Answer: A


NEW QUESTION # 293
Which of the following is a crucial step for a financial institution when leveraging regulatory reports to improve transaction monitoring? (Select Two.)

Answer: B,D

Explanation:
Regulatory reports--such as those published by FATF, FIUs, and supervisory authorities--provide valuable insights into emerging money laundering and terrorist financing risks.
A crucial step is systematically integrating identified risks into the institution's internal risk assessment. This ensures that the organization's understanding of threats remains current and aligned with regulatory expectations.
Another key action is building or enhancing transaction monitoring scenarios based on the typologies and red flags described in regulatory reports. This directly improves detection effectiveness and responsiveness to evolving threats.
While internal benchmarking and peer comparison may be useful, they are not substitutes for directly updating risk assessments and monitoring logic based on regulatory intelligence.


NEW QUESTION # 294
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