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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Global Anti-Financial Crime Frameworks, Governance and Regulations24%- 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. USA PATRIOT Act and extraterritorial laws
  • 2. EU AML Directives
Building and Managing Anti-Financial Crime Compliance Programs28%- Program framework and policies
  • 1. Risk assessment and risk-based approach
  • 2. Policies, procedures and controls design
- Customer due diligence and know-your-customer
  • 1. CDD, EDD, beneficial ownership identification
  • 2. politically exposed persons and high-risk clients
- Audit, testing and continuous improvement
- Monitoring, reporting and record keeping
  • 1. Legal record retention requirements
  • 2. Transaction monitoring and alert management
  • 3. Suspicious activity reporting (SAR/STR)
- Training, awareness and internal communication
Tools, Technologies and Investigations22%- Technology and systems
  • 1. Cryptoasset and virtual asset compliance
  • 2. Monitoring systems, screening tools, data analytics
- Investigation processes and evidence handling
  • 1. Cooperation with authorities and information sharing
  • 2. Case management and escalation
- Remediation and response
  • 1. Corrective actions and regulatory engagement
Understanding Risks and Methods of Financial Crime26%- Money laundering stages and techniques
  • 1. Placement, layering, integration
  • 2. Methods across financial sectors and businesses
- 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
- 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 (Q238-Q243):

NEW QUESTION # 238
The primary roles of a Country's Financial Intelligence Unit (FIU) include: (Select Two.)

Answer: C,E


NEW QUESTION # 239
What is the primary purpose of a risk appetite statement (RAS) in an organization and how should it be effectively communicated and implemented?

Answer: A

Explanation:
A risk appetite statement defines the amount and type of risk an organization is willing to accept in pursuit of its objectives. It must be clearly communicated to all stakeholders and supported by corresponding controls and processes to ensure it is embedded in day-to-day decision-making and risk management.


NEW QUESTION # 240
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: B

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 # 241
The relationship manager in the corporate banking department at a bank is required to take specialized AML training tailored to the risks the department is most likely to encounter. Which types of content are most appropriate for this training? (Select Two.)

Answer: A,C

Explanation:
Specialized AML training must be relevant to the specific risks the corporate banking team faces, including legal/regulatory expectations and the ML/TF typologies applicable to their products and customer base.
Applicable AML laws and regulations (B):"Staff must be aware of the applicable AML/CFT laws and regulatory requirements relevant to their business area." Money laundering typologies applicable to corporate loans (D):"Training should include typologies and red flags that are most relevant to the risks present in the specific business line, such as corporate lending."


NEW QUESTION # 242
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.)

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 # 243
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