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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
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 - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Monitoring, reporting and record keeping 1. Suspicious activity reporting (SAR/STR) 2. Transaction monitoring and alert management 3. Legal record retention requirements - Training, awareness and internal communication - Audit, testing and continuous improvement
Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- International standards and bodies 1. Basel Committee, Wolfsberg Group, UN conventions 2. FATF 40 Recommendations - Regional and national regulations 1. USA PATRIOT Act and extraterritorial laws 2. EU AML Directives - Governance, accountability and ethics 1. Roles of board, senior management and compliance function 2. Ethical obligations and professional standards
Tools, Technologies and Investigations	22%	- Remediation and response 1. Corrective actions and regulatory engagement - Investigation processes and evidence handling 1. Cooperation with authorities and information sharing 2. Case management and escalation - Technology and systems 1. Monitoring systems, screening tools, data analytics 2. Cryptoasset and virtual asset compliance
Understanding Risks and Methods of Financial Crime	26%	- Sanctions regimes and compliance risks 1. UN, EU, OFAC frameworks 2. Risk identification and mitigation - Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Terrorism financing and proliferation financing 1. Sources and mechanisms 2. Distinctions from money laundering

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q195-Q200):

NEW QUESTION # 195
A multinational corporation is considering expanding into a new market with a history of political instability and corruption. Which strategy would be most effective in mitigating reputational risk from a financial crime perspective associated with such an expansion?

A. Ensure the jurisdiction risks and other relevant factors have been taken into consideration in the EWRA and the residual risks are within the corporation's risk appetite
B. Committing to open communication, ethical practices, and community engagement to build trust with stakeholders
C. Minimizing the company's direct presence in the country to reduce exposure to potential risks
D. Partnering with established local businesses to leverage their knowledge and connections while sharing risks
E. Ensuring the company has strong ties with local government officials to influence policy and avoid negative scrutiny

Answer: A

Explanation:
The most effective strategy is to ensure that jurisdictional and other relevant risks are assessed through the Enterprise-Wide Risk Assessment (EWRA), and that any residual risks fall within the corporation's defined risk appetite. This structured, risk-based approach supports informed decision-making and protects against reputational damage related to financial crime.

NEW QUESTION # 196
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. Check Kiting
B. Structuring
C. Microstructuring
D. Trade-based

Answer: B

NEW QUESTION # 197
The chief compliance officer at a global bank that operates in the US, EU, and other countries is responsible for navigating the US and EU regulations related to anti-money laundering (AML) and sanctions as well as any local regulations in the countries where it operates.
What should be the primary compliance concern of the bank?

A. Balancing compliance with the US BSA and OFAC sanctions while ensuring adherence to EU AML directives and the GDPR, which complicates cross-border data sharing
B. The EU's sanctions regime is stricter than that of the US Office of Foreign Assets Control (OFAC), so the bank must prioritize compliance with EU regulations over US laws and train the staff in Europe accordingly
C. US anti-money laundering regulations are stricter than the EU AML Directives, making it easier for the global bank to be compliant in the EU
D. US and EU regulations require the bank to build separate compliance teams, making it necessary to establish completely separate systems for US and EU operations

Answer: A

Explanation:
The primary compliance concern is balancing compliance with the US Bank Secrecy Act (BSA) and OFAC sanctions while also ensuring adherence to EU AML directives and GDPR requirements. GDPR's strict data protection rules can complicate cross-border information sharing, making it challenging to align compliance across multiple jurisdictions.

NEW QUESTION # 198
A financial institution's (FI's) policy is to apply enhanced due diligence (EDD) for every new client to ensure the effectiveness of the program. How should a consultant advise the FI's management team?

A. Suggest EDD for 50% of the clients is appropriate.
B. Suggest the management team select the clients that are chosen for EDD.
C. Suggest the management team ask the regulator for advice on EDD measures.
D. Suggest the FI needs to implement a risk-based approach for EDD.

Answer: D

NEW QUESTION # 199
Which of the following are part of a risk-based approach? (Select Three.)

A. Choosing and applying effective controls that align with the identified risk levels
B. Performing a comprehensive risk assessment to identify customer, transaction, and geographic risks
C. Allocating resources equally across all customer segments to ensure fairness
D. Focusing monitoring primarily on previously flagged customers while using standard controls for others
E. Determining detailed risk profiles for customers based on their activities and relationships

Answer: A,B,E

Explanation:
A risk-based approach is central to AML/CFT programs and includes:
A: Creating detailed risk profiles for customers based on their behaviors and connections.
C: Applying controls that are tailored to the actual risk (not a one-size-fits-all approach).
D: Performing a thorough risk assessment, considering customer, transaction, and geographic factors.
"A risk-based approach involves risk profiling, tailored controls, and comprehensive risk assessment across key risk factors."

NEW QUESTION # 200
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