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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Risk Management and Due Diligence	25%	- 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)
Topic 2: AML Compliance Framework	25%	- Compliance program components 1. Internal controls 2. Policies and procedures - Roles and responsibilities 1. Governance and oversight 2. Compliance officer duties
Topic 3: Money Laundering and Terrorist Financing Concepts	30%	- Definitions and stages of money laundering 1. Placement, layering, integration 2. Terrorist financing typologies - Global AML/CFT standards 1. FATF Recommendations 2. International regulatory frameworks
Topic 4: 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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q403-Q408):

NEW QUESTION # 403
An institution is looking to alter an existing threshold-based monitoring scenario because it is generating too many alerts that do not yield suspicious activity reports. Documentation submitted to the relevant committee for supporting this proposal should include details on: (Choose three.)

A. approval by money-laundering reporting officer for the proposal.
B. how many resources are spent on the less productive lower threshold and the associated costs.
C. historical analysis proving that the current scenario generates a disproportionate number of false positives.
D. evidence that the increased residual risk arising from the change is within the bank's risk appetite.
E. the number of cases that will not be filed and the resources that can be freed up for other tasks.
F. minutes of meeting held with the regulator where agreement was obtained that the higher threshold was justified.

Answer: B,C,D

Explanation:
The documentation should include evidence that the residual risk remains within the bank's risk appetite, analysis of resources spent and costs associated with the current lower threshold, and historical data showing the high false positive rate to justify altering the threshold while maintaining effective risk management.

NEW QUESTION # 404
Which statements regarding using network analysis tools to determine links to criminality are true? (Choose three.)

A. Network analysis tools are an efficient means of generating relevant results because they only need a limited amount of data and computation power and artificial intelligence (Al) allows less-skilled people to quickly learn to use these systems
B. Network analysis allows for the identification of individuals or entities in a network by analyzing connections or links between them and can be used to study a wide range of systems, such as social or transportation networks
C. Analyzing relationships between individuals in a social network allows for the identification of hierarchies, the detection of behaviors and geographical movements, or an understanding of how groups are organized
D. When using artificial intelligence (Al) with network analysis tools, it must be ensured that the algorithms used are not biased towards social criteria, such as race, gender, or religion
E. When using network analysis data to fight money laundering and financial crime, data protection and privacy can be disregarded because fighting crime takes precedent

Answer: B,C,D

Explanation:
When using network analysis tools, it's important to avoid algorithmic bias toward social criteria to ensure fairness, analyze connections between individuals or entities to identify links and structures, and study relationships within networks to uncover hierarchies, behaviors, movements, and group organization relevant to detecting criminal activity.

NEW QUESTION # 405
When applying new technologies to AML, application programming interfaces (APIs) allow for:

A. Different applications to connect and communicate
B. Quick CDD and client traits analysis during onboarding
C. Authentication via artificial intelligence (AI) and biometrics
D. Digital identification on mobile devices

Answer: A

Explanation:
Application Programming Interfaces (APIs)are tools that enableinterconnectivity and data exchangebetween different software applications. In AML contexts, APIs are commonly used tointegrate third-party systems, such as screening tools, customer databases, and transaction monitoring platforms, ensuring real-time and accurate flow of information.
This technological capability supports enhancedautomation, agility, and efficiencyin AML processes.

NEW QUESTION # 406
In a large US bank, an individual leads a team in charge of overseeing the governance and effectiveness of the bank's transaction monitoring approach.
Which strategies should the team implement? (Select Two.)

A. Periodic review of the transaction monitoring scenarios and their productivity to ensure that appropriate AML typologies are reflected
B. Periodic review of suspicious activity reports (SARs) filed with FinCEN to determine whether any should be withdrawn
C. Periodic and ad hoc cooperation with the legal team to appropriately investigate and monitor the transactions of subjects of subpoenas or government inquiries
D. Periodic review of client profiles to ensure that the most up-to-date information is on file for high-risk clients in line with the bank's internal policies and procedures

Answer: A,D

Explanation:
Effective oversight of transaction monitoring includes:
Periodic review of client profiles to ensure up-to-date information for high-risk clients (B):"Reviewing and updating customer profiles is essential to ensure that monitoring scenarios are based on current risk data." (CAMS 6th Edition, Transaction Monitoring and Customer Due Diligence) Periodic review of transaction monitoring scenarios and productivity to ensure appropriate AML typologies are reflected (D):"Firms should periodically review the parameters and output of transaction monitoring systems to ensure they continue to identify relevant ML/TF risks and typologies."(CAMS 6th Edition, Monitoring and Surveillance) Incorrect Options:
A: Cooperation with the legal team is important, but not a core strategy for monitoring governance.
C: SARs filed with FinCEN should not be withdrawn unless new evidence requires it; review should focus on process, not withdrawal.
References:
CAMS 6th Edition, Transaction Monitoring
FFIEC BSA/AML Manual, Transaction Monitoring Section

NEW QUESTION # 407
Which financial crime risks are inherent to e-commerce platforms? (Select Four.)

A. E-commerce platforms exploited to move criminal proceeds
B. E-commerce platforms used as a front for illicit transactions
C. E-commerce platforms encouraging unregulated peer-to-peer lending
D. E-commerce platforms susceptible to fraud schemes
E. Use of foreign currency to mask criminal proceeds
F. Use of stolen bank cards for online purchases

Answer: A,B,D,F

Explanation:
* A, B, C, D are all identified by CAMS 6th Edition and FATF as primary financial crime risks for e- commerce platforms:
* A: Platforms can be exploited to launder money by processing the movement of criminal proceeds under the guise of legitimate sales.
* B: Use of stolen credit/debit cards for online purchases is a common fraud and ML technique.
* C: Fraud schemes (such as chargebacks or fake listings) are widespread on e-commerce platforms.
* D: E-commerce platforms can serve as fronts for illicit goods or services, masking the true nature of transactions.
* E and F are not commonly cited as principal inherent risks in AML/CTF guidance.
References:
CAMS 6th Edition, E-commerce ML/TF Risks
FATF, "Money Laundering Risks Arising from E-commerce Activities"

NEW QUESTION # 408
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