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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: 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
Topic 2: Detecting and Preventing Financial Crime	20%	- Financial crime typologies 1. Trade-based money laundering 2. Fraud and corruption schemes - Investigations and enforcement 1. Case management and documentation 2. Regulatory investigations
Topic 3: Risk Management and Due Diligence	25%	- Transaction monitoring and reporting 1. Monitoring systems and typologies 2. Suspicious Activity Reports (SAR/STR) - Customer Due Diligence (CDD/KYC) 1. Customer identification programs (CIP) 2. Enhanced due diligence (EDD)
Topic 4: Money Laundering and Terrorist Financing Concepts	30%	- Definitions and stages of money laundering 1. Placement, layering, integration 2. Terrorist financing typologies - Global AML/CFT standards 1. International regulatory frameworks 2. FATF Recommendations

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q19-Q24):

NEW QUESTION # 19
A compliance officer at a large bank has been tasked with investigating a series of unusual transactions involving a long-time customer. The customer has made several large cash deposits into multiple accounts within a short period, raising red flags. After gathering and analyzing transaction data, reviewing customer records, and cross-referencing external sources, the compliance officer determines that there is a reasonable suspicion of money laundering. As part of documenting this investigation, the compliance officer must decide how and when to escalate the matter internally and whether to file a suspicious activity report (SAR). What is the next critical step in this process?

A. Immediately escalate the case to senior management, recommending the closure of the customer's accounts due to potential reputational risk.
B. Document the customer's transaction history and keep the investigation confidential until further suspicious activity is detected.
C. Report the investigation to external auditors and await further guidance before taking any action.
D. Draft a SAR that includes a detailed chronology of the transactions, customer background and the rationale for suspicion, and submit it to the relevant financial intelligence unit (FIU) within the regulatory timelines.

Answer: D

Explanation:
Once there is reasonable suspicion of money laundering, the next critical step is to draft and file a suspicious activity report (SAR) with the relevant financial intelligence unit within the required regulatory timeframe. The SAR should contain a clear chronology of transactions, relevant customer details, and the rationale for suspicion to support potential investigation by authorities.

NEW QUESTION # 20
Which of the following are considered best practices for effective AML/CFT training programs? (Select Three.)

A. Training should be broad, high level, and not role-specific in order to reach the largest audience.
B. Training should cover the consequences of not complying with policies and procedures.
C. Training should cover practical examples, use case studies, and provide information on how to comply with policies.
D. Up-to-date records including logs of training and completion dates should be maintained.
E. Training should always be provided by an independent third party.

Answer: B,C,D

Explanation:
* A: "Effective training includes practical examples and use cases tailored to the business."
* B: "Firms must keep accurate records of all AML/CFT training, including completion logs."
* D: "Staff should be aware of the consequences of non-compliance with AML/CFT obligations."(CAMS
6th Edition, AML/CFT Training and Awareness)
Incorrect:
* C: Training should be tailored and role-specific.
* E: Third-party trainers are not required for effective training.
References:
CAMS 6th Edition, Training and Awareness Programs

NEW QUESTION # 21
Common risks associated with cryptocurrency and convertible virtual currencies include: (Select Three.)

A. Layering transactions to hide the origin of funds derived from illicit activity
B. Obscuring the source of illicit funds
C. Facilitating payment for other illicit activities and goods
D. Funds being stolen from other users
E. Difficulty converting into physical currency

Answer: A,B,C

Explanation:
Cryptocurrencies and convertible virtual currencies present several well-documented money laundering and terrorist financing risks, as identified in FATF guidance and national AML frameworks. These risks largely stem from the pseudonymous nature, speed, and borderless design of virtual asset transactions.
One key risk is the ability to obscure the source of illicit funds. Criminals can move value through wallets and exchanges in ways that make tracing the origin of funds more difficult, particularly when using privacy- enhancing technologies or poorly regulated platforms.
Another significant risk is the facilitation of payments for illicit goods and activities, including drugs, cybercrime services, ransomware, and sanctions evasion. Virtual currencies can be used to settle transactions outside the traditional financial system.
Additionally, criminals frequently engage in layering transactions, rapidly transferring funds across multiple wallets, platforms, or blockchains to hide the origin of illicit proceeds.
Difficulty converting into physical currency is not a recognized AML risk, as most convertible virtual currencies can be exchanged through regulated platforms. Theft of funds is a cybersecurity concern but is not itself a core AML risk indicator.

NEW QUESTION # 22
A compliance officer is completing a case and has determined that the events do not merit filing a suspicious activity report (SAR).
Which of the following should be included in the case notes to justify not filing a SAR? (Choose two.)

A. How much money was involved in the case
B. Who made the decision not to file the SAR
C. Why the officer deemed that the case did not merit filing a SAR
D. How the money flowed through the institution
E. When the unusual activity occurred

Answer: B,C

Explanation:
Case notes should document who made the decision and the rationale for not filing the SAR to ensure transparency, support auditability, and demonstrate compliance with regulatory expectations.

NEW QUESTION # 23
Which regulation permits financial institutions, upon providing notice to the US Department of the Treasury, to share information with one another in order to identify and report activities that may involve money laundering or terrorist activity to the federal government?

A. Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (COSMIC)
B. USA Patriot Act Section 314(b)
C. USA Patriot Act Section 314(a)
D. Regulation (EU) 2024/1624 of the European Parliament

Answer: B

Explanation:
USA PATRIOT Act Section 314(b)allows financial institutions tovoluntarily share information with one another, after notifying the U.S. Treasury, toidentify and report possible money laundering or terrorist financing activities.
Key elements include:
Voluntary participation
Prior notice to FinCEN (part of the U.S. Treasury)
Protection from liability when acting in good faith
Enhanced collaborative detection across institutions
Section 314(a)refers toinformation sharing between law enforcement and financial institutions, not peer-to-peer sharing.
COSMICis an initiative in certain jurisdictions like Singapore, not U.S. regulation.
Regulation (EU) 2024/1624is part of the EU AML framework, not relevant to U.S. institutions.

NEW QUESTION # 24
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