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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: AML Compliance Framework25%- Compliance program components
  • 1. Internal controls
    • 2. Policies and procedures
      - Roles and responsibilities
      • 1. Compliance officer duties
        • 2. Governance and oversight
          Topic 2: Detecting and Preventing Financial Crime20%- Investigations and enforcement
          • 1. Regulatory investigations
            • 2. Case management and documentation
              - Financial crime typologies
              • 1. Trade-based money laundering
                • 2. Fraud and corruption schemes
                  Topic 3: Money Laundering and Terrorist Financing Concepts30%- Global AML/CFT standards
                  • 1. International regulatory frameworks
                    • 2. FATF Recommendations
                      - Definitions and stages of money laundering
                      • 1. Placement, layering, integration
                        • 2. Terrorist financing typologies
                          Topic 4: Risk Management and Due Diligence25%- 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 (Q360-Q365):

                                  NEW QUESTION # 360
                                  Who bears the ultimate responsibility for approving a financial institution's relationship with a politically exposed person?

                                  Answer: C


                                  NEW QUESTION # 361
                                  A credit institution has been served with a preliminary findings report highlighting major deviations from AML obligations and stating that it faces the possible withdrawal of its banking license.
                                  Which authority could have issued the report?

                                  Answer: A

                                  Explanation:
                                  An AML supervisory authority is responsible for overseeing compliance with AML/CFT obligations and has the legal power to conduct inspections, issue findings, impose sanctions, and recommend or enforce license withdrawal.
                                  Supervisory authorities assess whether institutions comply with national AML laws and regulatory standards. When major deficiencies are identified, they may issue a preliminary findings report outlining violations and potential enforcement actions, including license revocation.
                                  Self-regulatory bodies lack the authority to withdraw banking licenses. Law enforcement agencies investigate criminal activity but do not supervise institutions or issue compliance findings reports.
                                  FATF is an international standard-setting body and does not conduct institution-level enforcement or issue sanctions.
                                  Therefore, only an AML supervisory authority could issue such a report.


                                  NEW QUESTION # 362
                                  Which of the following best describes AML/CFT risk identification and assessment for accountants?
                                  (Select Two.)

                                  Answer: B,E

                                  Explanation:
                                  Accountants are classified as designated non-financial businesses and professions (DNFBPs) under FATF standards and must apply a risk-based approach to AML/CFT compliance.
                                  A customer acceptance policy is a key tool that helps accountants define which clients or engagements fall outside their risk appetite. This supports consistent onboarding decisions and ensures high-risk clients are either subject to enhanced due diligence or declined.
                                  Additionally, due to the nature of accounting services-such as advisory, tax preparation, and financial reporting-traditional automated transaction monitoring systems used by banks are often not appropriate. Instead, accountants rely more heavily on engagement-based risk assessments, client profiling, and professional judgment.
                                  Accountants are subject to record-keeping requirements longer than two years in most jurisdictions, and geographic risk is always relevant when assessing AML/CFT exposure. Risk assessments must be comprehensive and proportionate, not artificially limited.


                                  NEW QUESTION # 363
                                  A bank notices inconsistent flagging of blockchain transactions due to the lack of standardized payment message formats.
                                  What feature should be prioritized in the transaction screening tool to address this issue?

                                  Answer: A

                                  Explanation:
                                  Blockchain transactions differ fundamentally from traditional payments because they lack standardized messaging formats such as SWIFT MT or ISO 20022. As a result, conventional screening tools may struggle to consistently detect risks.
                                  Integration with blockchain analytics providers allows institutions to enrich raw blockchain data with contextual intelligence, including wallet attribution, transaction flows, exposure to illicit services, sanctions- linked wallets, and typologies such as mixers and tumblers.
                                  This integration enhances consistency, improves risk detection, and supports sanctions and AML obligations specific to virtual assets. Manual review is not scalable, and focusing only on known wallet addresses creates blind spots. Enhancing traditional payment screening does not address blockchain-specific challenges.


                                  NEW QUESTION # 364
                                  A customer refuses to provide requested beneficial ownership information. What is the MOST appropriate response?

                                  Answer: C

                                  Explanation:
                                  Failure to provide beneficial ownership information prevents institutions from meeting AML obligations and understanding who ultimately controls the customer relationship. Institutions may need to decline onboarding, restrict services, or terminate relationships when transparency requirements are not satisfied.


                                  NEW QUESTION # 365
                                  ......

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