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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q94-Q99):

NEW QUESTION # 94
While there are legitimate reasons for trust and company service providers (TCSPs) to appoint a nominee shareholder, which feature of a nominee shareholder presents the greatest financial crime risk?

A. Supporting company liquidity and ease of exit strategies
B. Providing anonymity for the beneficial owner by keeping their identity hidden from the public register
C. Simplifying administrative tasks associated with shareholding
D. Helping non-residents comply with local ownership laws

Answer: B

NEW QUESTION # 95
A real estate buyer purchases multiple high-value properties in cash through a series of transactions in a short period of time and without any clear economic justification.
Which of the following is the most likely money laundering risk associated with this behavior in the real estate sector?

A. The buyer is quickly diversifying their investment portfolio through structuring payments in order to take advantage of the liquidity of cash transactions in real estate.
B. The buyer is a real estate developer acquiring multiple properties for a potential redevelopment project with a business partner located in a high-risk jurisdiction.
C. The buyer is capitalizing on favorable market conditions and using cash purchases to outbid competitors in a competitive real estate market using insider information.
D. The buyer is using high-value real estate transactions to obscure the origin of the funds.

Answer: D

Explanation:
* A: The purchase of high-value real estate using cash in multiple transactions-especially without clear economic justification-is a classic money laundering typology. The goal is typically to integrate illicit funds into the legitimate economy and obscure their origin.
* "Large cash purchases of property without an obvious economic rationale are a significant red flag for money laundering in the real estate sector."
* This typology is highlighted in CAMS 6th Edition and the FATF's guidance on real estate ML/TF risks.
References:
CAMS 6th Edition, Real Estate and ML Typologies
FATF, Money Laundering and Terrorist Financing through the Real Estate Sector

NEW QUESTION # 96
Which of the following best describes the degree of cooperation between regulatory authorities, law enforcement agencies, and Financial Intelligence Units (FIUs) during money laundering investigations, including cross-border cases?

A. FIUs primarily handle reporting from financial institutions, while regulatory authorities and law enforcement agencies are limited to enforcing domestic AML laws without international cooperation.
B. Law enforcement agencies and FIUs only cooperate during domestic investigations, leaving cross- border investigations to international organizations like INTERPOL.
C. Regulatory authorities primarily work independently but share information when requested by international law enforcement agencies.
D. Regulatory authorities, law enforcement agencies, and FIUs share intelligence and coordinate efforts to streamline cross-border money laundering investigations, often through formal agreements.

Answer: D

Explanation:
* D: "Cooperation and coordination between regulatory authorities, law enforcement agencies, and FIUs are essential for effective AML investigations, especially in cross-border cases. This is often accomplished through formal agreements, MOUs, and information-sharing mechanisms."(CAMS 6th Edition, International Cooperation in AML/CFT; FATF Recommendations 36-40) References:
CAMS 6th Edition, International Cooperation
FATF Recommendations 36-40

NEW QUESTION # 97
The chief compliance officer at a global bank that operates in the US, EU, and other countries is responsible for navigating the US and EU regulations related to anti-money laundering (AML) and sanctions as well as any local regulations in the countries where it operates. What should be the primary compliance concern of the bank?

A. Balancing compliance with the US BSA and OFAC sanctions while ensuring adherence to EU AML directives and the GDPR, which complicates cross-border data sharing
B. The EU's sanctions regime is stricter than that of the US Office of Foreign Assets Control (OFAC), so the bank must prioritize compliance with EU regulations over US laws and train the staff in Europe accordingly
C. US anti-money laundering regulations are stricter than the EU AML Directives, making it easier for the global bank to be compliant in the EU
D. US and EU regulations require the bank to build separate compliance teams, making it necessary to establish completely separate systems for US and EU operations

Answer: A

Explanation:
The primary compliance concern is balancing compliance with the US Bank Secrecy Act (BSA) and OFAC sanctions while also ensuring adherence to EU AML directives and GDPR requirements. GDPR's strict data protection rules can complicate cross-border information sharing, making it challenging to align compliance across multiple jurisdictions.

NEW QUESTION # 98
Which control would be most effective as part of a risk-based approach (RBA) to managing AML/CFT risk for a bank established in the EU that also has a branch in a high-risk third country outside of the EU?

A. Apply tailored due diligence measures, based on the level of risk posed by each customer following risk assessment
B. Fully rely on central beneficial owner registry records in the high-risk third country to determine the ultimate beneficial owners of all customers
C. Monitor every cross-border transaction in real time, flagging all for enhanced scrutiny due to the country risk level
D. Automatically apply enhanced customer due diligence measures to all customers in the high-risk third- country branch regardless of risk level

Answer: A

Explanation:
As part of a risk-based approach, the bank should apply tailored due diligence measures based on the assessed risk level of each customer. This ensures resources are focused where they are most needed, rather than applying uniform enhanced measures to all customers, which can be inefficient and unnecessary.

NEW QUESTION # 99
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