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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q57-Q62):

NEW QUESTION # 57
What is the primary purpose of anti-bribery and corruption regulations?

A. To prohibit the conversion of illegally obtained money into legal money by senior government figures
B. To prohibit the payment of anything of value by persons or entities to government officials or employees of state-owned enterprises to obtain an improper business advantage
C. To protect against the use of illegal means by senior political figures to avoid paying taxes
D. To protect against election interference by corrupt foreign adversaries facilitated by illicit funds

Answer: B

Explanation:
A: The main objective of anti-bribery and corruption regulations is to prohibit bribes to government officials or employees of state-owned enterprises for the purpose of obtaining or retaining business or securing improper advantages.
"Anti-bribery and corruption regulations, such as the FCPA and UK Bribery Act, prohibit offering anything of value to public officials to gain a business advantage."

NEW QUESTION # 58
According to guidelines issued by Basel Committee on Banking Supervision relating to corporate governance principles for banks, what is the role of the board of directors in addressing an institution's AML oversight and governance?

A. The compliance function should report directly to the CEO concerning the bank's compliance with applicable laws, rules, and standards and only update the board of directors on the bank's efforts in managing compliance risk when required.
B. The board of directors should establish a compliance function and approve the bank's policies for identifying, assessing, monitoring, reporting, and advising on compliance risk.
C. The board of directors should be responsible for overseeing the management of the bank's compliance risk but not involved in establishing a compliance policy that explains the processes by which compliance risks are to be identified and managed throughout the organization.
D. The compliance function must have sufficient authority, stature, independence, and resources to be effective on its own and should not have access to the board of directors.

Answer: B

Explanation:
The Basel Committee on Banking Supervision (BCBS) requires that the board of directors establish and oversee the compliance function and approve the bank's AML/CTF compliance policies and procedures, including processes for identifying, assessing, monitoring, and reporting compliance risks.
"The board of directors should establish a compliance function and approve compliance policies and processes for identifying, assessing, monitoring, and reporting compliance risks throughout the organization." (CAMS 6th Edition, Corporate Governance and Oversight; BCBS, Corporate Governance Principles for Banks, Principle 6) References:
CAMS 6th Edition, Governance and Oversight
BCBS: Corporate Governance Principles for Banks (2015)

NEW QUESTION # 59
A compliance analyst has recently investigated an account where money was deposited in amounts below the reporting limit and almost entirely withdrawn in a foreign country.
Which type of money laundering is the compliance analyst potentially identifying?

A. Microstructuring
B. Check Kiting
C. Structuring
D. Trade-based

Answer: C

NEW QUESTION # 60
When applying new technologies to AML, application programming interfaces (APIs) allow for:

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

Answer: D

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.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:Technology and AML- Section:Emerging Technologies and APIs in Compliance

NEW QUESTION # 61
The degree of attraction that a company holds to criminal organizations is influenced by the (Select Two.)

A. ease of travel to the jurisdiction.
B. amount of annual fees associated with the jurisdiction.
C. rules governing the disclosure of beneficial ownership by the jurisdiction.
D. permissibility of bearer shares.

Answer: C,D

Explanation:
The susceptibility of a company or jurisdiction to ML/TF abuse is significantly increased by:
Permissibility of bearer shares (B):"Bearer shares make it easy to hide ownership and control, presenting a major risk for misuse by criminals."(CAMS 6th Edition, Beneficial Ownership and Company Transparency) Rules governing the disclosure of beneficial ownership by the jurisdiction (C):"Weak requirements or loopholes in beneficial ownership disclosure are frequently exploited to conceal criminal involvement in corporate structures."(CAMS 6th Edition, Chapter: Legal Persons and Arrangements) Incorrect Options:
A: High or low fees are not a significant ML/TF risk driver.
D: Ease of travel is unrelated to ML/TF risk related to company structures.
References:
CAMS 6th Edition, Beneficial Ownership and Transparency
FATF Recommendations 24, 25

NEW QUESTION # 62
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