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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Governance, accountability and ethics 1. Roles of board, senior management and compliance function 2. Ethical obligations and professional standards - International standards and bodies 1. FATF 40 Recommendations 2. Basel Committee, Wolfsberg Group, UN conventions - Regional and national regulations 1. EU AML Directives 2. USA PATRIOT Act and extraterritorial laws
Topic 2: Understanding Risks and Methods of Financial Crime	26%	- 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. Sources and mechanisms 2. Distinctions from money laundering - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts
Topic 3: Building and Managing Anti-Financial Crime Compliance Programs	28%	- Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification - Monitoring, reporting and record keeping 1. Legal record retention requirements 2. Transaction monitoring and alert management 3. Suspicious activity reporting (SAR/STR) - Audit, testing and continuous improvement - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Training, awareness and internal communication
Topic 4: Tools, Technologies and Investigations	22%	- 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 - Technology and systems 1. Monitoring systems, screening tools, data analytics 2. Cryptoasset and virtual asset compliance

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q255-Q260):

NEW QUESTION # 255
The UN Security Council's primary role in imposing sanctions is that it has the authority to:

A. impose sanctions lo maintain of restore international peace and security
B. conduct research on and analyze the impacts of sanctions to improve the effectiveness of sanctions regimes.
C. impose sanctions on economic targets to maintain or restore financial stability within a country.
D. impose sanctions on countries that lack AML/CFT controls.

Answer: A

Explanation:
The UN Security Council has the authority to impose sanctions specifically to maintain or restore international peace and security.

NEW QUESTION # 256
How canawareness be raisedwithincountries that do not have sanctions regulatory regimes? (Select Two.)

A. Restrict trade between countries that have robust AML/CFT and sanctions regulatory regimes and those that do not.
B. Bilateral conversations and cooperation between governments.
C. Enforcement and pecuniary fines against these countries.
D. AFC (Anti-Financial Crime) and sanctions-related seminars, webinars, and training within these countries.

Answer: B,D

Explanation:
Many jurisdictions lack robust sanctions frameworks, requiring international cooperation and education to improve compliance.
Option B (Correct):Educational initiatives such as AML/sanctions training and workshops help raise awareness and build capacity.
Option D (Correct):Bilateral cooperation allows knowledge-sharing and technical assistance between regulatory authorities.
Why Other Options Are Incorrect:
Option A (Incorrect):Trade restrictions may pressure non-compliant nations, but they do not directly improve sanctions awareness.
Option C (Incorrect):Enforcing fines without prior education or assistance is ineffective and may create diplomatic tensions.
Best Practices for Sanctions Awareness & Compliance:
Develop international AML/sanctions training programs for emerging markets.
Encourage diplomatic engagement to strengthen legal frameworks.
Leverage FATF's Mutual Evaluation process to assess progress.
Reference:
FATF Recommendation 6 (Sanctions & International Cooperation)
OFAC Guidance on Sanctions Compliance for Emerging Jurisdictions
Egmont Group Guidelines on Information Sharing & Capacity Building

NEW QUESTION # 257
A financial institution's US Branch receives a subpoena from law enforcement requesting detailed records of a customer's account activity. The customer is part of an ongoing investigation into a money laundering operation. At the same time, the institution has received a FinCEN 314(b) information-sharing request from another bank seeking details on transactions linked to the same customer. The compliance team is tasked with responding to both the subpoena and the FinCEN
314(b) request. What should the compliance officer prioritize in responding to these requests while ensuring that all legal and regulatory obligations are met?

A. Notify the customer of the information-sharing request from the other financial institution and seek their consent before responding
B. Provide the requested records to both law enforcement and the other financial institution immediately to ensure full cooperation and transparency
C. Respond to the FinCEN 314(b) request first, as it allows for voluntary information sharing with partner organizations
D. Consult the institution's legal counsel to validate the subpoena, then respond directly to law enforcement while ensuring all documentation is properly recorded

Answer: D

Explanation:
B: When a subpoena is received, the institution should first consult with legal counsel to ensure the validity and scope of the subpoena. Compliance with law enforcement requests is mandatory and subject to strict legal obligations. All documentation and responses should be properly recorded.
"A subpoena requires a legal response; consult legal counsel to validate the request and respond as required by law." FinCEN 314(b) information-sharing requests are voluntary and can proceed only after fulfilling required legal steps, such as verifying membership in the program and ensuring information- sharing agreements are in place.
CAMS 6th Edition clarifies that "under no circumstances should a customer be notified of a law enforcement inquiry or subpoena."

NEW QUESTION # 258
A global financial institution is conducting a comprehensive review of its due diligence processes to strengthen its defenses against financial crime. Recent incidents have highlighted vulnerabilities related to employee misconduct, including unauthorized transactions and sharing of sensitive customer information. Additionally, the FI has faced issues with third-party vendors who failed to meet compliance standards, leading to increased regulatory scrutiny. Which of the following measures would be most effective in addressing the bank's due diligence needs for employees, vendors, and third parties to mitigate insider threats and ensure compliance with AML regulations?

A. Implementing background checks for employees and vendors prior to onboarding or the start of engagement to identify any red flags
B. Relying on self-reported compliance certifications from vendors and employees to confirm adherence to AML standards on a periodic basis
C. Limiting the number of vendors and third parties in high-risk jurisdictions in order to reduce exposure to compliance risks
D. Establishing a surveillance program for employees, vendors, and third parties, including periodic risk assessments, access controls, and regular reviews of their compliance with AML policies

Answer: D

Explanation:
Establishing a surveillance program with periodic risk assessments, access controls, and regular compliance reviews for employees, vendors, and third parties is the most effective way to mitigate insider threats and ensure ongoing adherence to AML regulations. This proactive approach continuously monitors risk rather than relying solely on initial checks or self-certifications.

NEW QUESTION # 259
Which regulatory bodies cooperate when dealing with cross-border suspicious or unusual financial activity investigations?

A. European Commissions
B. Financial Action Task Forces
C. Wolfsberg Groups
D. Financial Intelligence Units

Answer: D

NEW QUESTION # 260
......

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