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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Money Laundering and Terrorist Financing Concepts	30%	- Global AML/CFT standards 1. FATF Recommendations 2. International regulatory frameworks - Definitions and stages of money laundering 1. Terrorist financing typologies 2. Placement, layering, integration
Topic 2: AML Compliance Framework	25%	- Roles and responsibilities 1. Compliance officer duties 2. Governance and oversight - Compliance program components 1. Internal controls 2. Policies and procedures
Topic 3: Detecting and Preventing Financial Crime	20%	- Investigations and enforcement 1. Regulatory investigations 2. Case management and documentation - Financial crime typologies 1. Fraud and corruption schemes 2. Trade-based money laundering
Topic 4: Risk Management and Due Diligence	25%	- Transaction monitoring and reporting 1. Monitoring systems and typologies 2. Suspicious Activity Reports (SAR/STR) - Customer Due Diligence (CDD/KYC) 1. Enhanced due diligence (EDD) 2. Customer identification programs (CIP)

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q291-Q296):

NEW QUESTION # 291
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?

A. The beneficiary of the wire transfer is a resident of a grey-list country
B. The wire transfers are for different amounts but with the same beneficiary
C. The beneficiary of the wire transfers is a foreign company whose shareholders and director are other companies
D. The beneficiary of the wire transfers is a resident of a foreign country bearing the same family name as the business owner

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 # 292
Which of the following are considered best practices for effective AML/CFT training programs? (Select Three.)

A. Training should be broad, high level, and not role-specific in order to reach the largest audience.
B. Training should cover practical examples, use case studies, and provide information on how to comply with policies.
C. Training should always be provided by an independent third party.
D. Training should cover the consequences of not complying with policies and procedures.
E. Up-to-date records including logs of training and completion dates should be maintained.

Answer: B,D,E

Explanation:
* A: "Effective training includes practical examples and use cases tailored to the business."
* B: "Firms must keep accurate records of all AML/CFT training, including completion logs."
* D: "Staff should be aware of the consequences of non-compliance with AML/CFT obligations."(CAMS
6th Edition, AML/CFT Training and Awareness)
Incorrect:
* C: Training should be tailored and role-specific.
* E: Third-party trainers are not required for effective training.
References:
CAMS 6th Edition, Training and Awareness Programs

NEW QUESTION # 293
An EU Trust and Company Service Provider analyst notices some unusual activity while looking through a customer's financial statements and detailed general ledger. The customer is in the business of importing and exporting machineries.
Which transaction indicator warrants further escalation to the compliance officer?

A. The payment of company secretarial retainer fees to a foreign company in a tax-efficient jurisdiction
B. The payment of virtual offices services overseas
C. Inter-company loans from the holding company to the subsidiary company to finance the shipment of machinery
D. The payment of consultancy fees to unrelated companies and service providers established in a foreign jurisdiction

Answer: A

NEW QUESTION # 294
When deciding on the frequency of periodic customer due diligence (CDD) refresh, firms should foremost consider the:

A. Cost of implementation
B. Risk profile of customers
C. Available level of automation for the process
D. Operational burden of periodic refresh implementation

Answer: B

NEW QUESTION # 295
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?

A. Defer to the most stringent regulatory regime to streamline compliance
B. Follow U.S. regulations only, as the transaction originates in the United States
C. Implement a dual-compliance approach satisfying both U.S. and EU AFC regulations
D. Follow EU regulations only, as the beneficiary is based in France

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 # 296
......

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