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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: AML Compliance Framework | 25% | - Roles and responsibilities
|
| Topic 2: Risk Management and Due Diligence | 25% | - Customer Due Diligence (CDD/KYC)
|
| Topic 3: Money Laundering and Terrorist Financing Concepts | 30% | - Global AML/CFT standards
|
| Topic 4: Detecting and Preventing Financial Crime | 20% | - Financial crime typologies
|
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NEW QUESTION # 404
What are the primary advantages of using open-source tools in financial crime investigations? (Choose two.)
Answer: C,D
Explanation:
Open-source tools offer cost-effective access to diverse data sources, making them valuable for financial crime investigations. They also support partial automation of data collection and analysis, reducing manual effort and improving efficiency in identifying suspicious patterns or links.
NEW QUESTION # 405
A customer from a high-risk jurisdiction uses complex trusts and nominees during onboarding.
What should the institution do?
Answer: A
Explanation:
Complex ownership arrangements involving trusts and nominees increase AML risk because they may conceal beneficial ownership. Institutions should apply enhanced due diligence, verify ownership structures, assess source of wealth, and evaluate jurisdictional risks before establishing or continuing the relationship.
NEW QUESTION # 406
Which of the following is an important factor to consider when setting up an anti-financial crimes (AFC) compliance program governance structure?
Answer: B
Explanation:
One of the core components of a strong AFC (Anti-Financial Crimes) compliance program is establishingclear roles, responsibilities, and lines of accountability, especially forescalating and addressing AFC risks and compliance issues. This governance clarity ensures effective implementation, transparency in decision-making, and timely resolution of compliance concerns.
While external audits (option A) and internal controls (option B) are important,defining governance structure and escalation responsibilities (option D)is a foundational element. Additionally, the board of directors (option C) provides oversight-not day-to-day compliance monitoring.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter: Compliance Program Structures - Section:
Governance and Oversight Functions
NEW QUESTION # 407
Which of the following is one of the pillars of the EU AML Package adopted in June 2024?
Answer: C
Explanation:
One of the central pillars of the EU AML Package adopted in June 2024 is theEU AML Regulation. This regulation introduces directly applicable AML/CFT rules across all EU member states, replacing the previous approach where AML directives were transposed into national laws.
This shift addresses regulatory fragmentation and strengthens enforcement across borders.
The complete AML Package includes the following four pillars:
EU AML Regulation (directly applicable rulebook)
6th AML Directive (not the 7th)
Establishment of a new EU Anti-Money Laundering Authority (AMLA)
Revised Transfer of Funds Regulation, especially concerning crypto-asset service providers The EU AML Regulation aims to unify and streamline the application of AML/CFT measures across the EU, ensuring a consistent and effective framework.
NEW QUESTION # 408
Which of the following AML/CFT arrangements should a bank have in place at minimum before opening for business? (Choose three.)
Answer: A,B,C
Explanation:
Before opening for business, a bank must have independent compliance testing to ensure controls are functioning, qualified staff who understand AML/CFT requirements, and documented policies and procedures to guide day-to-day compliance. These are foundational elements of an effective AML/CFT framework.
NEW QUESTION # 409
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