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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
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
          Money Laundering and Terrorist Financing Concepts30%- Global AML/CFT standards
          • 1. International regulatory frameworks
            • 2. FATF Recommendations
              - Definitions and stages of money laundering
              • 1. Terrorist financing typologies
                • 2. Placement, layering, integration
                  Risk Management and Due Diligence25%- Transaction monitoring and reporting
                  • 1. Suspicious Activity Reports (SAR/STR)
                    • 2. Monitoring systems and typologies
                      - Customer Due Diligence (CDD/KYC)
                      • 1. Enhanced due diligence (EDD)
                        • 2. Customer identification programs (CIP)
                          AML Compliance Framework25%- Compliance program components
                          • 1. Policies and procedures
                            • 2. Internal controls
                              - Roles and responsibilities
                              • 1. Governance and oversight
                                • 2. Compliance officer duties

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                                  ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q173-Q178):

                                  NEW QUESTION # 173
                                  A company is rapidly expanding into several international markets, including jurisdictions considered high risk in terms of regulatory oversight. The board has requested the Money Laundering Reporting Officer (MLRO) to review and adjust the company's anti-financial crime (AFC) compliance framework to align with the evolving regulatory landscape and expansion strategy. During this process, the MLRO identifies vulnerabilities, particularly in markets with AML deficiencies, and updates the framework to mitigate these risks. Which element of the AFC compliance program does this process describe?

                                  Answer: C

                                  Explanation:
                                  This scenario describes the risk assessment element of an anti-financial crime (AFC) compliance program. FATF standards require organizations to regularly assess and reassess their money laundering and terrorist financing risks, particularly when there are material changes to business models, geographic exposure, or regulatory environments.
                                  The MLRO's review of the company's expansion into high-risk jurisdictions and identification of vulnerabilities reflects a dynamic and forward-looking risk assessment process. Updating the compliance framework to address identified risks ensures that controls remain proportionate and effective.
                                  Risk assessments form the foundation of the risk-based approach and directly inform decisions on enhanced due diligence, monitoring, governance, and resource allocation. This process is distinct from transaction monitoring, governance arrangements, or training activities, although those elements may be updated as a result of the risk assessment.


                                  NEW QUESTION # 174
                                  The UN Security Council's primary role in imposing sanctions is that it has the authority to:

                                  Answer: B

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


                                  NEW QUESTION # 175
                                  A bank has joined a public-private partnership (PPP) to work with law enforcement and regulators on combating financial crime. However, the bank's data protection officer is concerned about sharing sensitive customer data, and the compliance officer is worried about potential delays in receiving useful information from the government. Which of the following best describes a benefit of PPPs in fighting financial crime?

                                  Answer: B


                                  NEW QUESTION # 176
                                  Who bears the ultimate responsibility for approving a financial institution's relationship with a politically exposed person?

                                  Answer: D


                                  NEW QUESTION # 177
                                  Which control is MOST effective for identifying suspicious correspondent banking relationships?

                                  Answer: B

                                  Explanation:
                                  Correspondent banking relationships can expose institutions to significant AML risks, especially when respondent banks operate in high-risk jurisdictions. Comprehensive due diligence helps assess ownership structure, AML controls, regulatory history, and reputational concerns. Effective due diligence reduces the likelihood that correspondent accounts will be used for illicit financial activity.


                                  NEW QUESTION # 178
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