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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q206-Q211):

NEW QUESTION # 206
The degree of attraction that a company holds to criminal organizations is influenced by the (Select Two.)

A. rules governing the disclosure of beneficial ownership by the jurisdiction.
B. amount of annual fees associated with the jurisdiction.
C. permissibility of bearer shares.
D. ease of travel to the jurisdiction.

Answer: A,C

Explanation:
The susceptibility of a company or jurisdiction to ML/TF abuse is significantly increased by:
Permissibility of bearer shares (B):"Bearer shares make it easy to hide ownership and control, presenting a major risk for misuse by criminals." Rules governing the disclosure of beneficial ownership by the jurisdiction (C):"Weak requirements or loopholes in beneficial ownership disclosure are frequently exploited to conceal criminal involvement in corporate structures."

NEW QUESTION # 207
A multinational financial institution (FI) detected suspicious transactions involving shell companies across the United States, Germany, and Singapore, which appeared to be part of a money laundering scheme. The Financial Intelligence Unit (FIU) in Germany initiated a joint investigation with the U.S. Financial Crimes Enforcement Network (FinCEN) and the Singapore FIU. The investigation faced challenges due to differing legal frameworks, data privacy laws, and procedural requirements. Which approach would best enhance cooperation between regulatory authorities and law enforcement agencies across these jurisdictions to ensure a successful investigation?

A. Establishing a Mutual Legal Assistance Treaty (MLAT)
B. Engaging a third-party consulting firm to mediate between the regulatory authorities and law enforcement agencies in different jurisdictions
C. Relying on each jurisdiction's existing legal frameworks and informal communication channels
D. Centralizing the investigation under the jurisdiction with the most stringent AML laws to streamline the process and reduce the complexity of multi-jurisdictional coordination

Answer: A

Explanation:
Cross-border money laundering investigations frequently encounter obstacles arising from differences in legal systems, data protection laws, and investigative procedures. International AML/CFT guidance, including FATF recommendations, emphasizes the importance of formal legal cooperation mechanisms to overcome these challenges.
A Mutual Legal Assistance Treaty (MLAT) provides a structured and legally recognized framework for cooperation between jurisdictions. MLATs allow competent authorities to lawfully exchange information, obtain evidence, and coordinate investigative actions while respecting domestic legal requirements and data privacy obligations. This formal mechanism ensures that information shared is admissible and enforceable across jurisdictions.
Relying solely on informal communication channels is insufficient for complex investigations involving sensitive data and legal constraints. Engaging third-party consultants does not address legal barriers and may introduce confidentiality risks. Centralizing an investigation under a single jurisdiction would undermine sovereignty and is not consistent with international cooperation principles.
Therefore, establishing or utilizing an MLAT is the most effective and regulator-aligned approach to enhance cross-border cooperation in complex money laundering investigations.

NEW QUESTION # 208
From an international standards perspective both the EU and Financial Action Task Force (FATF) consider data sharing a crucial component of effective anti-money laundenng measures because data sharing:

A. allows Financial Intelligence Units (FlUs) to enact sanctions against perpetrators of financial crime
B. needs to be approved by the Financial Intelligence Unit (FIU) before sharing between financial institutions
C. promotes financial transparency and protects the integrity of the financial systems
D. helps financial institutions to be more effective in fighting crime with data analysis

Answer: C

NEW QUESTION # 209
In order to prevent financial crime risk, the implemented policies, controls, and procedures must:

A. Be proportionate to the size and nature of the firm, approved by senior management, and regularly reviewed
B. Be created, approved, and owned only by the First Line of Defense and reviewed annually
C. Include sophisticated and automated controls using the newest available technologies
D. Be completed by the business and validated by an external firm

Answer: A

Explanation:
Effective AML/CFT policies, controls, and procedures must be risk-based, proportionate, and well- governed, as emphasized by FATF and national regulators. Proportionality ensures that controls are appropriate to the firm's size, complexity, products, services, and risk exposure.
Senior management approval is essential to establish accountability and tone from the top. Regular review ensures policies remain effective as risks, regulations, and business models evolve.
AML responsibility is shared across the three lines of defense, not owned solely by the business. External validation may support assurance but does not replace internal accountability. While technology can enhance controls, regulators do not mandate the use of advanced or cutting-edge solutions; effectiveness and governance are more important than sophistication.

NEW QUESTION # 210
A client advisor at a bank contacts a member of the compliance team for guidance on how to proceed with a client who wants to transfer US$250,000 from the sale of cryptoassets into their savings account at the bank.
What guidance should the compliance team provide?

A. Advise that the transaction should be stopped because cryptoassets in general are not regulated and by definition pose an unacceptable AML risk for the bank
B. Confirm to the advisor that the customer can proceed with the transaction if the client's KYC is up to date and a search on a public blockchain explorer does not provide any adverse media hits
C. Confirm to the advisor that the customer can proceed with the transaction because clients are already correctly onboarded KYC is complete and the source of funds is transparent
D. Advise further clarification is necessary, including which coins or tokens were sold and whether the crypto exchange conducts due diligence on its clients

Answer: D

Explanation:
The compliance team should request further clarification to assess the AML risk appropriately. This includes understanding which cryptoassets were sold and whether the exchange used applies adequate due diligence.
These details help determine the legitimacy of the source of funds and ensure compliance with AML requirements.

NEW QUESTION # 211
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