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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Regional and national regulations 1. EU AML Directives 2. USA PATRIOT Act and extraterritorial laws - International standards and bodies 1. FATF 40 Recommendations 2. Basel Committee, Wolfsberg Group, UN conventions - Governance, accountability and ethics 1. Ethical obligations and professional standards 2. Roles of board, senior management and compliance function
Tools, Technologies and Investigations	22%	- Remediation and response 1. Corrective actions and regulatory engagement - Technology and systems 1. Cryptoasset and virtual asset compliance 2. Monitoring systems, screening tools, data analytics - Investigation processes and evidence handling 1. Cooperation with authorities and information sharing 2. Case management and escalation
Understanding Risks and Methods of Financial Crime	26%	- Terrorism financing and proliferation financing 1. Distinctions from money laundering 2. Sources and mechanisms - Sanctions regimes and compliance risks 1. Risk identification and mitigation 2. UN, EU, OFAC frameworks - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Money laundering stages and techniques 1. Placement, layering, integration 2. Methods across financial sectors and businesses
Building and Managing Anti-Financial Crime Compliance Programs	28%	- Training, awareness and internal communication - Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Monitoring, reporting and record keeping 1. Transaction monitoring and alert management 2. Legal record retention requirements 3. Suspicious activity reporting (SAR/STR) - Customer due diligence and know-your-customer 1. CDD, EDD, beneficial ownership identification 2. politically exposed persons and high-risk clients - Audit, testing and continuous improvement

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q351-Q356):

NEW QUESTION # 351
Which benefits are most commonly associated with transitioning from a rules-based approach to artificial intelligence (AI) and machine learning-based tools in transaction monitoring? (Choose three.)

A. Enhanced ability to detect emerging patterns and anomalies
B. Elimination of the need for human oversight
C. Complete automation of compliance processes
D. Increased flexibility in adapting to changing financial crime risks
E. Reduction in the number of false positives in long term

Answer: A,D,E

Explanation:
Transitioning to AI and machine learning in transaction monitoring offers benefits such as long-term reduction in false positives, improved adaptability to evolving financial crime risks, and enhanced detection of complex or emerging patterns and anomalies that rules-based systems may miss.

NEW QUESTION # 352
Which red flag is most relevant to money laundering through capital markets?

A. A trading customer maintains a portfolio of securities concentrated in one specific emerging market
B. A firm sees an unexpected increase in demand for electronically traded funds
C. A security sees a transactional pattern of a steady decrease in both trading volume and prices
D. A low-priced security sees a sudden spike in investor demand with a rising price

Answer: D

NEW QUESTION # 353
Which collective body of Financial Intelligence Units (FlUs) was formed with an objective to improve Information exchange and sharing mechanisms among member FlUs as well as to support its members by enhancing their capabilities'?

A. The Organisation for Economic Co-operation and Development (OECD)
B. The Egmont Group
C. The International Monetary Fund (IMF)
D. The Wolfsberg Group

Answer: B

NEW QUESTION # 354
Which suspicious activity may be the strongest indicator of money laundering through a casino?

A. A patron routinely places multiple bets on the same sporting events
B. A patron requests the casino to transfer their winnings to another gambling operator
C. A patron purchases a large amount of chips at a blackjack table using cash
D. A privately held company originates funds transfers through the casino into the betting accounts of multiple patrons

Answer: D

NEW QUESTION # 355
A financial institution is conducting an enterprise-wide risk assessment (EWRA) and has identified a high inherent risk of money laundering associated with its private banking division due to the clientele's high net worth and complex financial structures. However, the institution has implemented robust customer due diligence (CDD) and enhanced due diligence (EDD) procedures, along with sophisticated transaction monitoring systems.
How would these controls impact the assessment of residual risk?

A. The residual risk would remain high due to the inherent nature of the private banking business
B. The residual risk would be eliminated entirely because the controls are sufficient to mitigate all potential risks
C. The residual risk would be moderately reduced, but further controls may be necessary to achieve an acceptable level
D. The residual risk would be significantly reduced due to the effectiveness of the controls in place

Answer: D

Explanation:
In anEnterprise-Wide Risk Assessment (EWRA),residual riskis the level of risk that remains after applying mitigating controls to theinherent risk(the risk present before controls are applied).
In this scenario, theinherent risk is highdue to the nature of private banking-high net worth clients,cross- border transactions,complex ownership structures, andhigh-value financial products. However, the institution has implementedrobust CDD and EDD, as well asadvanced transaction monitoring systems.
According to the CAMS Study Guide - 6th Edition, wheneffective and properly implemented controlsare in place, they cansignificantly reducethe residual risk-even in high-risk business areas like private banking.
However, no control framework caneliminate all riskentirely.
Option Ais correct: Controls can significantly reduce the residual risk when strong, effective systems and procedures are in place.
Option Bis partially true but suggests inadequacy, which is not indicated here.
Option Cincorrectly assumes residual risk cannot be lowered even with controls.
Option Dis incorrect because residual riskcannot be eliminated entirely.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:Enterprise-Wide Risk Assessment (EWRA)- Section:Inherent Risk vs. Residual Risk and the Role of Controls

NEW QUESTION # 356
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