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ACAMS CAMS7 Exam Syllabus Topics:

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

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Free PDF High Pass-Rate ACAMS - CAMS7 - Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Exam Braindumps

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q112-Q117):

NEW QUESTION # 112
What are the key anti-financial crime (AFC) regulatory bodies in the United States and the European Union and their respective roles?

A. The US Federal Reserve and the European Central Bank oversee money laundering and sanctions
B. The Office of Foreign Assets Control (OFAC) enforces US sanctions, while FinCEN focuses on money laundering. In the EU, the European Commission sets AML/CFT regulations, with enforcement by member states coordinated by the AML Authority
C. FinCEN and ESMA issue sanctions and combat money laundering
D. The SEC and the EBA are the main bodies enforcing AML and sanctions

Answer: B

Explanation:
In the United States, anti-financial crime responsibilities are divided between specialized authorities. The Financial Crimes Enforcement Network (FinCEN) administers and enforces the Bank Secrecy Act (BSA) and focuses on anti-money laundering and counter-terrorist financing. The Office of Foreign Assets Control (OFAC) administers and enforces US economic and trade sanctions.
In the European Union, the European Commission is responsible for proposing AML/CFT legislation, such as the AML Directives and the AML Regulation. Enforcement is carried out by individual EU member states through national supervisory and law enforcement authorities, with coordination increasingly provided by the EU Anti-Money Laundering Authority (AMLA).
Other bodies such as the EBA and ESMA play supporting supervisory or standard-setting roles but are not the primary sanctions authorities.

NEW QUESTION # 113
The owner of a real estate investment company deposits multiple cashier's checks that were bought using cash over a three-month period, from the sale of two apartments. This account also receives several electronic transfers from other financial institutions for US$10,000 each.
What activity is considered suspicious of money laundering?

A. Using cash to buy multiple cashier's checks over a period of time
B. Using cashier's checks in the transactions with the real estate investment company's account
C. Receiving electronic transfers for US$10,000 amounts from other financial institutions
D. Performing operations with real estate investment companies

Answer: A

NEW QUESTION # 114
Which regulation permits financial institutions, upon providing notice to the US Department of the Treasury, to share information with one another in order to identify and report activities that may involve money laundering or terrorist activity to the federal government?

A. Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (COSMIC)
B. USA Patriot Act Section 314(b)
C. USA Patriot Act Section 314(a)
D. Regulation (EU) 2024/1624 of the European Parliament

Answer: B

Explanation:
USA PATRIOT Act Section 314(b)allows financial institutions tovoluntarily share information with one another, after notifying the U.S. Treasury, toidentify and report possible money laundering or terrorist financing activities.
Key elements include:
Voluntary participation
Prior notice to FinCEN (part of the U.S. Treasury)
Protection from liability when acting in good faith
Enhanced collaborative detection across institutions
Section 314(a)refers toinformation sharing between law enforcement and financial institutions, not peer-to- peer sharing.
COSMICis an initiative in certain jurisdictions like Singapore, not U.S. regulation.
Regulation (EU) 2024/1624is part of the EU AML framework, not relevant to U.S. institutions.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:U.S. Regulatory Framework- Section:USA PATRIOT Act - Information Sharing under Section 314(b)

NEW QUESTION # 115
Financial crime risk related to the use of "hawalas" can stem from: (Select Two.)

A. difficulty in tracking the originator, recipient, and source of transactions.
B. heightened risks of returned transactions.
C. heavy usage by senior political figures.
D. informal networks used for cross-border transactions outside of the formal banking system.
E. remote verification of identity by third-party program managers.

Answer: A,D

Explanation:
A: "Hawala and similar informal value transfer systems are difficult to monitor, making it challenging to identify the originator, recipient, and source of funds." D: "Hawala operates through informal networks for cross-border transfers, often outside the formal banking system, increasing AML/CFT risk."

NEW QUESTION # 116
Which of the following is a critical consideration for private sector firms when sharing data and intelligence to combat financial crime?

A. The potential return on investment (ROI) from the data shared versus the financial crime prevention effort
B. The preference of upper management regarding which teams should participate in the data-sharing initiative
C. The cost of the data-sharing system and whether it its within the existing IT budget
D. Ensuring that the shared data complies with applicable data protection regulations while maintaining the integrity and accuracy of the information

Answer: D

NEW QUESTION # 117
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