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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Detecting and Preventing Financial Crime	20%	- Financial crime typologies 1. Trade-based money laundering 2. Fraud and corruption schemes - Investigations and enforcement 1. Regulatory investigations 2. Case management and documentation
Money Laundering and Terrorist Financing Concepts	30%	- 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
AML Compliance Framework	25%	- Compliance program components 1. Policies and procedures 2. Internal controls - Roles and responsibilities 1. Governance and oversight 2. Compliance officer duties
Risk Management and Due Diligence	25%	- Customer Due Diligence (CDD/KYC) 1. Enhanced due diligence (EDD) 2. Customer identification programs (CIP) - Transaction monitoring and reporting 1. Suspicious Activity Reports (SAR/STR) 2. Monitoring systems and typologies

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q234-Q239):

NEW QUESTION # 234
A law firm is involved in setting up complex offshore corporate structures for a client with minimal documentation of the source of funds. The firm does not question the client's transactions or report any suspicious activity. What is the primary money laundering risk associated with this behavior by the law firm?

A. The law firm is engaging in aggressive tax planning to help the client avoid legal taxes
B. The law firm is avoiding fees by minimizing documentation for clients in high-risk jurisdictions
C. The law firm is acting as a gatekeeper, facilitating the movement and concealment of illicit funds through complex corporate structures
D. The law firm is providing routine legal services that include creating complex legal structures, and no further scrutiny is required

Answer: C

Explanation:
Law firms are classified as gatekeepers under FATF standards when they provide services such as company formation, trust creation, or management of client funds. These services can be misused to facilitate money laundering if proper due diligence is not conducted.
In this scenario, the law firm is establishing complex offshore structures with minimal documentation of source of funds and without questioning suspicious activity. This behavior directly enables the concealment of beneficial ownership and the layering of illicit proceeds, both core money laundering techniques.
Failing to apply scrutiny or report suspicious activity allows criminals to exploit legal services to move and disguise illicit funds under the appearance of legitimacy. This is a recognized vulnerability across multiple FATF typologies.
The behavior described is not merely aggressive tax planning or routine legal work; rather, it represents facilitation of illicit financial flows through professional services.

NEW QUESTION # 235
An AML compliance officer receives an independent audit report with a number of findings.
An appropriate response to the report would include:

A. Assigning responsibility for reviewing the action plan to the board of directors
B. Reperforming the testing for the controls mentioned in the findings to confirm the results of the audit
C. Defining remedial actions based on the findings' root cause analysis
D. Drafting detailed action plans for the audit team to execute to close the findings

Answer: C

NEW QUESTION # 236
In order to prevent financial crime risk, the implemented policies, controls, and procedures must:

A. Be created, approved, and owned only by the First Line of Defense and reviewed annually
B. Be proportionate to the size and nature of the firm, approved by senior management, and regularly reviewed
C. Include sophisticated and automated controls using the newest available technologies
D. Be completed by the business and validated by an external firm

Answer: B

Explanation:
Effective AML/CFT policies, controls, and procedures must be risk-based, proportionate, and well- governed, as emphasized by FATF and national regulators. Proportionality ensures that controls are appropriate to the firm's size, complexity, products, services, and risk exposure.
Senior management approval is essential to establish accountability and tone from the top. Regular review ensures policies remain effective as risks, regulations, and business models evolve.
AML responsibility is shared across the three lines of defense, not owned solely by the business. External validation may support assurance but does not replace internal accountability. While technology can enhance controls, regulators do not mandate the use of advanced or cutting-edge solutions; effectiveness and governance are more important than sophistication.

NEW QUESTION # 237
An employee in a corporation's finance department hears news of an internal investigation into potential fraud within the company, quits her job, and disappears.
If they had been observed before her resignation, which characteristics of the employee would have been considered red flags? (Select Two.)

A. The employee was constantly evasive about the reasons for leaving her previous corporate finance job
B. The employee was originally from a high-risk jurisdiction
C. The employee had friends in high-risk industries
D. The employee had a lavish lifestyle for her income

Answer: A,D

NEW QUESTION # 238
Unusual wire transfer transactions can include: (Choose two.)

A. multiple wire transfers sent to counterparties associated with the client as per KYC documentation.
B. an incoming third-party wire transfer followed by the purchase of real estate in the client's name.
C. an incoming wire transfer followed by the loan payment to a third party that is a business associate of the client.
D. wire transfers in different currencies between accounts held at different banks for the same client.

Answer: B,D

Explanation:
Unusual wire transfer transactions may include transfers in different currencies between accounts at different banks for the same client, which can be used to obscure fund flows, and incoming third-party transfers followed by real estate purchases, which may indicate layering and integration stages of money laundering.
These patterns deviate from typical financial behavior and warrant closer scrutiny.

NEW QUESTION # 239
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