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ACAMS CAMS Exam Syllabus Topics:

SectionWeightObjectives
AML/CFT Investigations and Enforcement23%- Cooperation and Information Sharing
  • 1. Law Enforcement and Regulatory Cooperation
  • 2. Public-Private Partnerships
- AML/CFT Investigation Process
  • 1. Investigation Techniques and Evidence Gathering
  • 2. Interviewing Witnesses and Subjects
  • 3. Sources of Information and Open-Source Intelligence
- Enforcement Actions and Penalties
  • 1. Extradition and Mutual Legal Assistance
  • 2. Asset Freezing, Seizure, and Forfeiture
  • 3. Civil and Criminal Penalties
AML/CFT Compliance Program26%- Ongoing Monitoring and Reporting
  • 1. Transaction Monitoring Systems
  • 2. Currency Transaction Reporting (CTRs)
  • 3. Suspicious Activity Reporting (SARs)
- Customer Identification Program (CIP) and Customer Due Diligence (CDD)
  • 1. Beneficial Ownership Identification
  • 2. Enhanced Due Diligence (EDD)
  • 3. Customer Identification and Verification Procedures
- Record Keeping and Information Sharing
  • 1. Information Sharing Arrangements (e.g., Section 314(b))
  • 2. Confidentiality and Data Protection
Money Laundering Risks and Methods26%- Money Laundering and Terrorist Financing Risks
  • 1. Politically Exposed Persons (PEPs)
  • 2. Risk Assessment Concepts and Methodologies
  • 3. Jurisdictional Risks (High-Risk and Non-Cooperative Countries)
- Payment Systems and Money Laundering Methods
  • 1. Correspondent Banking and Wire Transfers
  • 2. Digital Currencies and Virtual Assets
  • 3. Trade-Based Money Laundering
- Nature of Money Laundering, Terrorist Financing, and Threat Finance
  • 1. Threat Finance and Terrorist Financing
  • 2. Characteristics and Methods of Money Laundering
  • 3. Differences between Money Laundering and Terrorist Financing
Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)25%- AML/CFT Regulatory Bodies and Guidance
  • 1. Regulatory Expectations and Enforcement Actions
  • 2. Financial Intelligence Units (FIUs)
- AML/CFT International Standards
  • 1. Wolfsberg Group Principles
  • 2. United Nations (UN) Sanctions and Conventions
  • 3. Financial Action Task Force (FATF) Standards and Guidance
- AML/CFT Compliance Program Designation
  • 1. Board and Senior Management Oversight
  • 2. Risk-Based Approach Implementation
  • 3. Components of an Effective AML/CFT Program

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q601-Q606):

NEW QUESTION # 601
What kind of person should perform the independent testing of an institution's anti-money laundering program?

Answer: A


NEW QUESTION # 602
Assessing the money laundering risk related to a product within the financial sector includes assessing the:
(Select Two.)

Answer: B,C

Explanation:
* Governance arrangements (A):"Sound governance and risk management arrangements are fundamental to assessing and managing ML/TF risk in products and services."(CAMS 6th Edition, Risk-Based Approach for Products and Services)
* Complexity of the products (B):"Complexity increases risk-products that are highly complex, opaque, or allow for multiple layers or jurisdictions are more vulnerable to misuse for ML/TF."( CAMS 6th Edition, Product Risk Assessment) Incorrect Options:
* C: Last audit results inform program effectiveness, not inherent product risk.
* D: Business financial status is considered in customer risk assessment, not product risk.
References:
CAMS 6th Edition, Product and Service Risk Assessment
FATF Guidance on Risk-Based Approach for Financial Institutions


NEW QUESTION # 603
According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)

Answer: B,D,E

Explanation:
these are the enhanced customer due diligence measures that the 5th EU Money Laundering Directive requires for high-risk third country nationals. According to the directive, entities must obtain the approval of senior management for establishing or continuing the business relationship, obtain information on the reasons for intended or performed transactions, and obtain information on the source of funds and source of wealth of the customer and of the beneficial owner(s). These measures are intended to increase the transparency and scrutiny of the customers and their transactions, and to prevent the misuse of the financial system for money laundering or terrorist financing purposes.
ACAMS Study Guide 6th Edition, Chapter 2, Section 2.3, page 56: "The EU's Fifth Anti-Money Laundering Directive".
ExamTopics, Question 456: "According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)"


NEW QUESTION # 604
Bank A is located in Country A.
A wire transfer from Bank B located in Country B is processes by Bank A, where the funds are being moved to a customer at Bank C located in Country C.
The wire transfer is deemed suspicious by Bank A.
Who should Bank A file a suspicious transaction report on?

Answer: A


NEW QUESTION # 605
the Financing of Terrorism (CFT)]
The owner of a local retail store makes multiple deposits daily at a bank. When the owner makes these deposits, it is noted that he goes to different tellers (cashiers). The deposits consist of cash in amounts less than the currency reporting threshold. Which of the following best describes this activity?

Answer: D

Explanation:
The account officer has violated the principle of confidentiality by informing the customer about the legal request from law enforcement. This could amount to tipping off,which is a criminal offense in many jurisdictions. Tipping off could jeopardize the investigation, compromise evidence, and alert other potential suspects. The account officer should not discuss any details of the investigation with the customer, nor should he meet with the customer to do so. He should also report his actions to his manager and compliance department, and cooperate with law enforcement as required.
:
ACAMS CAMS Certification Video Training Course1, Module 4: Conducting or Supporting the Investigation, Lesson 4.3: Confidentiality and Information Sharing ACAMS CAMS Certification Study Guide2, Chapter 4: Conducting or Supporting the Investigation, Section
4.3: Confidentiality and Information Sharing, pp. 135-136
ACAMS CAMS Certification Exam Outline3, Domain 4: Conducting or Supporting the Investigation, Task
4.3: Maintain confidentiality of the investigation, p. 18


NEW QUESTION # 606
......

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