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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: 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 - Training, awareness and internal communication - Audit, testing and continuous improvement - Monitoring, reporting and record keeping 1. Suspicious activity reporting (SAR/STR) 2. Transaction monitoring and alert management 3. Legal record retention requirements - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design
Topic 2: 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
Topic 3: Understanding Risks and Methods of Financial Crime	26%	- Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses - Terrorism financing and proliferation financing 1. Distinctions from money laundering 2. Sources and mechanisms - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Sanctions regimes and compliance risks 1. UN, EU, OFAC frameworks 2. Risk identification and mitigation
Topic 4: Tools, Technologies and Investigations	22%	- Technology and systems 1. Monitoring systems, screening tools, data analytics 2. Cryptoasset and virtual asset compliance - Investigation processes and evidence handling 1. Case management and escalation 2. Cooperation with authorities and information sharing - Remediation and response 1. Corrective actions and regulatory engagement

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q190-Q195):

NEW QUESTION # 190
The goal of the Egmont Group of Financial Intelligence Units (FIUs) is to provide a forum for FIUs to: (Select Three.)

A. Improve global cooperation between FIUs
B. Propose legislation to combat financial crime, including money laundering and the financing of terrorism
C. Establish an environment to foster trust amongst countries
D. Securely share sensitive information in the fight against money laundering and the financing of terrorism
E. Sign memoranda of cooperation that recognize and allow room for case-by-case solutions to specific problems

Answer: A,C,D

NEW QUESTION # 191
Which of the following statements is true regarding Office of Foreign Assets Control (OFAC) sanctions?
(Select Two.)

A. Blocked funds must be placed into an interest-bearing account on a financial institution's books
B. Sanctions can only be placed on certain individuals in foreign countries as designated by OFAC
C. Sanctions can be either comprehensive or selective using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals
D. OFAC sanctions automatically expire after five years unless renewed by Congress

Answer: A,C

Explanation:
OFAC sanctions are a key element of the U.S. AML/CFT framework. According to the CAMS 6th Edition and OFAC regulations:
* Blocked funds must be placed into an interest-bearing account on a financial institution's books (B):
"Blocked property must be held in a separate interest-bearing account on the books of the U.S. financial institution."(CAMS 6th Edition, Sanctions Compliance; OFAC FAQs)
* Sanctions can be either comprehensive or selective using the blocking of assets and trade restrictions (C):"OFAC administers both comprehensive and targeted (selective) sanctions programs to fulfill U.S.
foreign policy and national security goals."(CAMS 6th Edition, Sanctions Compliance) Incorrect Options:
* A: OFAC can sanction entities, vessels, and organizations-not just individuals or those in foreign countries.
* D: There is no automatic expiration of OFAC sanctions after five years.
References:
CAMS 6th Edition, OFAC and Sanctions Programs
U.S. Treasury, OFAC FAQs

NEW QUESTION # 192
An internal audit team is reviewing the anti-financial crime (AFC) program of its firm. Which of the following attributes of the third line of defense would be most critical to ensure unbiased and effective oversight?

A. Periodic training of the function
B. Independent testing
C. Consistency of approach
D. Qualification of the team

Answer: B

Explanation:
Independent testing is critical for the third line of defense to provide unbiased and effective oversight, ensuring that reviews and audits are objective and free from influence by the first or second lines of defense.

NEW QUESTION # 193
A bank is using a network analysis tool to identify links between its customers and criminal entities.
The system identifies potential indirect relationships but is unable to prioritize them. What should the compliance officer do to enhance the tool's effectiveness?

A. Focus on direct connections between customers and criminal entities
B. Manually review all flagged relationships for accuracy
C. Implement risk-scoring algorithms for indirect connections
D. Integrate external databases and social media profiles to cross-check flagged entities

Answer: C

Explanation:
Anti-Money Laundering (AML) regulations and guidance from bodies such as the Financial Action Task Force (FATF) emphasize the importance of a risk-based approach when identifying and managing money laundering and terrorist financing risks. Network analysis tools are commonly used by financial institutions to detect direct and indirect relationships between customers and known criminal entities. However, without prioritization, these tools may generate large volumes of alerts that reduce operational effectiveness.
Implementing risk-scoring algorithms for indirect connections allows the institution to rank identified relationships based on factors such as proximity to criminal entities, transaction volume, frequency, customer risk rating, and typology relevance. This enhances the tool's effectiveness by enabling compliance teams to focus on the highest-risk relationships first, in line with regulatory expectations for efficient and proportionate controls.
Manually reviewing all flagged relationships is impractical and inconsistent with scalable AML programs.
Integrating external databases or social media profiles may raise data quality, privacy, and governance concerns and is not a primary solution for prioritization. Focusing only on direct connections would weaken the AML framework, as criminals frequently use layered and indirect relationships to conceal illicit activity.
Therefore, applying risk-based scoring methodologies is the most effective and regulator-aligned way to enhance network analysis tools.

NEW QUESTION # 194
The primary objectives of the United Nations in developing sanctions regimes include: (Select Three.)

A. to deter non-democratic and non-constitutional changes within countries.
B. to support the protection of human rights.
C. to punish governments for having weak financial crime controls.
D. to force developing nations to adopt liberal or substantive democracies.
E. to support governments and regimes in the peaceful resolution of conflict.

Answer: A,B,E

Explanation:
UN sanctions regimes are not punitive but aim to:
* B: "Support peaceful resolution of conflicts."
* D: "Deter non-democratic and unconstitutional changes of government."
* E: "Promote respect for human rights and humanitarian law."(CAMS 6th Edition, United Nations Sanctions; UN Security Council Mandates) Incorrect:
* A: The UN does not impose sanctions to force regime type.
* C: Sanctions are not for punishing weak AML controls.
References:
CAMS 6th Edition, UN Sanctions
UN Security Council, Sanctions Objectives

NEW QUESTION # 195
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