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ACAMS CAMS Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: AML/CFT Investigations and Enforcement	23%	- Enforcement Actions and Penalties 1. Extradition and Mutual Legal Assistance 2. Asset Freezing, Seizure, and Forfeiture 3. Civil and Criminal Penalties - AML/CFT Investigation Process 1. Sources of Information and Open-Source Intelligence 2. Interviewing Witnesses and Subjects 3. Investigation Techniques and Evidence Gathering - Cooperation and Information Sharing 1. Public-Private Partnerships 2. Law Enforcement and Regulatory Cooperation
Topic 2: Money Laundering Risks and Methods	26%	- Money Laundering and Terrorist Financing Risks 1. Politically Exposed Persons (PEPs) 2. Risk Assessment Concepts and Methodologies 3. Jurisdictional Risks (High-Risk and Non-Cooperative Countries) - Payment Systems and Money Laundering Methods 1. Correspondent Banking and Wire Transfers 2. Trade-Based Money Laundering 3. Digital Currencies and Virtual Assets - Nature of Money Laundering, Terrorist Financing, and Threat Finance 1. Characteristics and Methods of Money Laundering 2. Differences between Money Laundering and Terrorist Financing 3. Threat Finance and Terrorist Financing
Topic 3: AML/CFT Compliance Program	26%	- Customer Identification Program (CIP) and Customer Due Diligence (CDD) 1. Enhanced Due Diligence (EDD) 2. Beneficial Ownership Identification 3. Customer Identification and Verification Procedures - Record Keeping and Information Sharing 1. Information Sharing Arrangements (e.g., Section 314(b)) 2. Confidentiality and Data Protection - Ongoing Monitoring and Reporting 1. Suspicious Activity Reporting (SARs) 2. Transaction Monitoring Systems 3. Currency Transaction Reporting (CTRs)
Topic 4: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)	25%	- AML/CFT International Standards 1. Financial Action Task Force (FATF) Standards and Guidance 2. United Nations (UN) Sanctions and Conventions 3. Wolfsberg Group Principles - AML/CFT Regulatory Bodies and Guidance 1. Financial Intelligence Units (FIUs) 2. Regulatory Expectations and Enforcement Actions - AML/CFT Compliance Program Designation 1. Board and Senior Management Oversight 2. Risk-Based Approach Implementation 3. Components of an Effective AML/CFT Program

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q392-Q397):

NEW QUESTION # 392
Which transaction should result in a SAR/STR filing?

A. A national food-chain restaurant makes multiple, anticipated cash transactions that are above the daily reporting threshold.
B. A small business owner deposits checks totaling $9,950 USD on a daily basis without providing a legitimate purpose.
C. A small business owner deposits $25,000 USD in cash proceeds with a business equipment bill of sale.
D. A national food-chain restaurant with multiple cash transactions at various branch locations.

Answer: B

NEW QUESTION # 393
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party.
What are two red flags that indicate money laundering? (Choose two.)

A. Customer redeeming all remaining chips
B. Bringing $15,000 worth of chips into the casino
C. Requesting a wire transfer to an unrelated third party
D. Playing various games before cashing out

Answer: B,C

Explanation:
Bringing $15,000 worth of chips into the casino is a red flag because it could indicate that the customer is trying to avoid the currency transaction reporting (CTR) requirement for cash transactions over
$10,0001. Requesting a wire transfer to an unrelated third party is another red flag because it could indicate that the customer is trying to conceal the source or destination of the funds, or transfer them to a high-risk jurisdiction2.
References:
1: ACAMS CAMS Certification Video Training Course, Module 3: Casinos and Gaming, Section 3.1:
Regulatory Requirements, Slide 8 2: ACAMS CAMS Certification Video Training Course, Module 3: Casinos and Gaming, Section 3.2: Money Laundering Methods and Red Flags, Slide 11

NEW QUESTION # 394
A money remittance business will most likely attract money launderers because it:
1. deals primarily in cash transactions.
2. engages in international transactions.
3. conducts transactions for walk-in customers.
4. does not have to comply with transaction reporting.

A. 1, 2, and 3 only
B. 1, 3, and 4 only
C. 1, 2, and 4 only
D. 2, 3, and 4 only

Answer: A

NEW QUESTION # 395
A private banker of a major international bank is onboarding a new private investment company. The banker has verified the identity of the two directors, a husband and wife, who are equal shareholders. The funds in the account will be provided solely by the wife.
The banker was later informed by the company that an additional director and shareholder will be added to the company although the new shareholder will not provide funds.
What is the next step for due diligence in respect to the additional director and shareholder according to the Wolfsberg Anti-Money Laundering Principles for Private Banking?

A. Seek to further understand the relationship between the shareholders and verify the identity of the individual which may include due diligence in respect to her background and reputation
B. Seek to further understand the relationship between the shareholders and undertake due diligence on the source of funds and wealth for each of the shareholders
C. Verify the identity of this individual, including due diligence in respect of background and reputation, and undertake due diligence on her source of funds and wealth
D. Refuse to open the account as it is not usual for an individual to be a director and shareholder of a private investment company without providing funds.

Answer: B

NEW QUESTION # 396
Combating the Financing of Terrorism (CFT)]
What are three elements of a sound Customer Due Diligence Program?

A. Training as to how and to what extent to identify prospective customers
B. Determination of what type of customer the financial institution will accept
C. Determination of who in the institution should be assigned to the prospective customer as a liaison
D. Obtaining date of birth and address of a prospective customer

Answer: A,B,D

Explanation:
A sound Customer Due Diligence Program (CDD) is a key component of an effective anti-money laundering and counter-terrorism financing (AML/CFT) framework. According to the Financial Action Task Force (FATF), the global standard-setter for AML/CFT, CDD involves the following elements1:
* Identifying the customer and verifying their identity using reliable, independent sources of information or documents.
* Identifying the beneficial owner and taking reasonable measures to verify their identity, so that the financial institution understands who ultimately owns or controls the customer or the funds.
* Understanding and obtaining information on the purpose and intended nature of the business relationship.
* Conducting ongoing due diligence on the business relationship and scrutinizing transactions to ensure that they are consistent with the financial institution's knowledge of the customer, their business and risk profile, and the source of funds.
Therefore, the three elements of a sound CDD program that are listed in the question are:
* Determination of what type of customer the financial institution will accept: This involves defining the customer acceptance policy and risk appetite of the financial institution, and applying appropriate risk- based measures to accept or reject customers based on their risk profile and the financial institution's ability to manage and mitigate those risks2.
* Training as to how and to what extent to identify prospective customers: This involves providing adequate and regular training to the staff who are responsible for conducting CDD, and ensuring that they are aware of the legal and regulatory requirements, the internal policies and procedures, the risk indicators, the verification methods, and the reporting obligations3.
* Obtaining date of birth and address of a prospective customer: This is part of the basic information that is required to identify and verify the customer's identity, and to establish their risk profile and the source of funds. The date of birth and address can also be used to check against various databases and watchlists to detect any potential matches with sanctioned or high-risk individuals or entities4.
The element that is not part of a sound CDD program is:
* Determination of who in the institution should be assigned to the prospective customer as a liaison:
This is not a mandatory or essential element of CDD, although it may be a good practice to assign a dedicated relationship manager or contact person to each customer, especially for high-risk or complex customers, to ensure effective communication, monitoring, and service delivery.
:
FATF Guidance on Customer Due Diligence and Financial Inclusion 1
ACAMS Study Guide for the CAMS Certification Examination (6th Edition), Chapter 2: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) 2 ACAMS Study Guide for the CAMS Certification Examination (6th Edition), Chapter 4: Developing an AML
/CFT Program 3
ACAMS Study Guide for the CAMS Certification Examination (6th Edition), Chapter 5: Conducting and Supporting the Investigation Process 4 Wolfsberg Group Guidance on Customer Due Diligence (CDD)

NEW QUESTION # 397
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