ACAMS CAMS Latest Exam Book - Certification CAMS Exam Infor

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ACAMS CAMS Exam Syllabus Topics:

Section	Weight	Objectives
Compliance Standards for AML/CFT	25%	- International organizations and bodies 1. Financial Action Task Force 2. Standard-setting bodies 3. Egmont Group of Financial Intelligence Units - Global regulatory frameworks 1. EU AML Directives 2. Basel Committee guidelines 3. USA PATRIOT Act and national regulations 4. FATF 40 Recommendations 5. Wolfsberg Principles - Risk-based approach fundamentals 1. Application across jurisdictions 2. Principles of risk assessment
Risks and Methods of Money Laundering and Terrorist Financing	26%	- Money laundering stages and mechanisms 1. Trade-based money laundering 2. Terrorist financing methods 3. Placement, layering, integration - Sanctions and related risks 1. Consequences of non-compliance 2. UN, EU, OFAC and other sanctions regimes - Sector-specific vulnerabilities 1. Precious metals and high-value goods 2. Gaming and casinos 3. Banking and deposit-taking institutions 4. Legal and professional service providers 5. Insurance sector 6. Money services businesses 7. Real estate 8. Securities and capital markets
AML/CFT Compliance Programs	28%	- Reporting and record-keeping 1. Suspicious activity reporting (SAR/STR) 2. Record retention requirements - Core elements of compliance programs 1. Policies, procedures and controls 2. Governance and oversight 3. Risk assessment and management - Customer due diligence requirements 1. Ongoing monitoring 2. KYC/CDD and enhanced due diligence 3. Beneficial ownership identification - Training, audit and independent review 1. Internal and external audit functions 2. Continuous improvement 3. Staff training programs
Conducting and Responding to Investigations	21%	- Detection and red flags 1. Identifying suspicious activities and transactions 2. Industry-specific red flags - Investigation process and case management 1. Case documentation and reporting 2. Evidence gathering and analysis - Disciplinary and remedial actions 1. Corrective measures and sanctions 2. Preventing recurrence - Information sharing and cooperation 1. Domestic and international cooperation 2. Working with FIUs and law enforcement

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q817-Q822):

NEW QUESTION # 817
Which activities are part of adverse media screening for negative news and reputational risks? (Select Three.)

A. Periodically monitoring regulatory updates and enforcement actions for associated entities
B. Monitoring changes in credit scores of individuals or entities
C. Analyzing customer sentiment through feedback and surveys
D. Identifying individuals or entities linked to criminal activities or sanctions
E. Scanning publicly available news articles and regulatory alerts

Answer: A,D,E

Explanation:
Adverse media screening seeks to identify reputational or financial crime risk by:
* B: Identifying links to criminal activity or sanctions.
* C: Monitoring regulatory actions and updates for risk associations.
* D: Regularly scanning news and public records for negative information.
"Adverse media screening involves collecting and reviewing publicly available information, news, and regulatory actions to detect links to criminal activity or reputational risks." (CAMS 6th Edition, Adverse Media Screening; FATF Guidance) Incorrect:
* A and E: Customer sentiment and credit scores are not core to adverse media screening.
References:
CAMS 6th Edition, Customer Due Diligence and Screening
FATF Guidance on Customer Due Diligence

NEW QUESTION # 818
Which of the following poses the greatest money laundering risk for a financial institution offering on-line services to customers?

A. Customers can directly access their accounts without being detected.
B. Institutions offering on-line services have no possibility to properly verify the identity of their customers.
C. There is greater difficulty in matching the customer with the provided identification documentation. B.
There is no human scrutinizing the customer's transactions, thus increasing the potential for large transactions.

Answer: A

Explanation:
Explanation
Correct but still under verification

NEW QUESTION # 819
While conducting a review of a medium-risk customer, an analyst noted that a newly added authorized signatory is a foreign politically exposed person (PEP). Which is the appropriate next step for the analyst to take?

A. Remove the PEP as the authorized signatory.
B. Re-categorize the customer as high-risk.
C. Review beneficial ownership to finalize the risk category of the customer.
D. Categorize the authorized PEP signatory as high-risk.

Answer: C

Explanation:
According to the FATF Guidance on Politically Exposed Persons1, financial institutions should assess the money laundering and terrorist financing risks associated with a business relationship or transaction with a PEP, their family members and close associates, on a case-by-case basis. This includes obtaining information on the source of wealth and source of funds of the customer and the beneficial owner, as well as conducting enhanced ongoing monitoring of the business relationship. Therefore, the appropriate next step for the analyst is to review the beneficial ownership of the customer to determine if the PEP or any other person poses a higher risk, and to apply additional measures accordingly. Removing the PEP as the authorized signatory, re-categorizing the customer as high-risk, or categorizing the authorized PEP signatory as high-risk are not necessarily required or sufficient steps, as they do not take into account the specific circumstances and risk factors of the customer and the PEP.
References:
CAMS Certification Package - 6th Edition | ACAMS
FATF Guidance: Politically Exposed Persons (Recommendations 12 and 22)
How Politically Exposed Persons Put Financial Institutions at Risk

NEW QUESTION # 820
A bank is preparing for a regulatory exam after a previous regulatory exam identified weaknesses in the bank's AML program. Since the last exam, the bank has improved the written AML program, hired an experienced AML compliance officer, and has taken actions to demonstrate a strong culture of compliance.
The bank is now focused on getting through their transaction monitoring case backlog and completing enhancements to its sanctions screening program.
Which of the following are correct? (Select Two.)

A. The bank may face civil or criminal penalties if it is unable to demonstrate sustained improvement in addressing the previous concerns.
B. The regulatory agency may require the bank's board of directors to publicly share the actions taken to address the previous concerns in order to limit its reputational risk.
C. The bank is likely to face secondary sanctions from global financial institutions despite addressing many of the previous concerns.
D. The bank may face the risk of regulatory orders to remediate its AML program despite addressing many of the previous concerns.
E. The bank is protected from reputational risk arising from any regulatory action because regulatory orders must remain confidential.

Answer: A,D

Explanation:
* B: If a bank fails to demonstrate sustained improvement or cannot resolve identified deficiencies, it can face civil or even criminal penalties from regulators. Regulators expect not just policy changes, but proof of effectiveness and ongoing compliance improvements.
* C: Even after addressing many concerns, if all issues are not resolved-such as outstanding transaction monitoring backlogs-regulators may issue orders to further remediate the AML program until full compliance is achieved.
* CAMS 6th Edition and regulatory guidance clarify that "regulators may impose penalties, issue consent orders, or require further remediation where weaknesses persist." Incorrect:
* A: Secondary sanctions generally apply to sanctions violations, not standard AML program weaknesses.
* D: Regulatory actions can be public and do pose reputational risk.
* E: While transparency is sometimes required, this is not a universal regulatory response.
References:
CAMS 6th Edition, Regulatory Examinations and Remediation
FFIEC BSA/AML Manual, Enforcement Actions

NEW QUESTION # 821
A bank located in New York has identified suspicious transactions at a correspondent bank in ChinA. For one of the international customers, the correspondent bank is not following agreed upon protocols.
Which factor indicates that the bank should terminate the relationship?

A. The compliance officer at the correspondent bank is currently being investigated due to bribery allegations.
B. The correspondent bank has opened branches in a country on the Office of Foreign Assets Control list.
C. The primary institution has requested transactional details from the correspondent bank to aide in their investigation.
D. The correspondent bank has recently exceeded acceptable limits in the primary banks' recently developed risk model.

Answer: B

Explanation:
the correspondent bank has engaged in a high-risk activity that could expose the primary bank to sanctions violations, reputational damage, and regulatory scrutiny. The Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanctions against targeted foreign countries, regimes, terrorists, and other threats to the national security, foreign policy, or economy of the United States1. Opening branches in a country on the OFAC list indicates that the correspondent bank is not complying with the sanctions requirements, and could be facilitating transactions for sanctioned entities or individuals. This would pose a serious risk for the primary bank, which is responsible for conducting due diligence and monitoring of its correspondent banking relationships2. Therefore, the primary bank should terminate the relationship with the correspondent bank to avoid any potential liability or penalties.
The other options are not as compelling as A, because they do not necessarily indicate that the correspondent bank is violating any laws or regulations, or that the primary bank is exposed to significant risks. Option B could be a cause for concern, but it does not imply that the correspondent bank is involved in any wrongdoing, or that the compliance officer has any influence over the correspondent banking activities. Option C could suggest that the correspondent bank is engaging in unusual or suspicious transactions, but it does not mean that the primary bank should terminate the relationship immediately, as it could also be a result of changes in the correspondent bank's business profile, customer base, or market conditions. Option D is a normal and expected part of the correspondent banking relationship, as the primary bank has the right and obligation to request transactional details from the correspondent bank to verify the legitimacy and source of funds, and to identify any red flags or anomalies3.
References:
* 1: OFAC website
* 2: ACAMS Study Guide for the CAMS Certification Examination, 6th Edition, Chapter 5, page 178
* 3: ACAMS CAMS Certification Video Training Course, Module 5, Lesson 4
* 4: ACAMS CAMS Certification Practice Exam, Question 93
* :
https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-informati
* : https://www.acams.org/en/cams-certification-package-6th-edition
* : https://www.exam-labs.com/video-training/acams-cams
* : https://vceplus.io/exam-cams/

NEW QUESTION # 822
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