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ACAMS CAMS Exam Syllabus Topics:

Section	Objectives
Customer Due Diligence (CDD) and KYC	- Beneficial ownership and PEP screening - Enhanced due diligence for high-risk customers - Customer identification and verification
AML Compliance Framework	- Internal controls and governance - Regulatory obligations and enforcement expectations - AML compliance program structure
AML and CTF Fundamentals	- Money laundering and terrorist financing concepts - International AML/CTF standards and FATF recommendations - Stages and typologies of money laundering
Transaction Monitoring and Reporting	- Suspicious Activity Reports (SAR) / STR filing - Suspicious activity detection and monitoring systems - Case management and investigation processes
Financial Crime Typologies and Risk	- Sanctions and embargo compliance - Common money laundering typologies across industries - Risk assessment methodologies

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q707-Q712):

NEW QUESTION # 707
What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?

A. Consider customers from that jurisdiction as high risk
B. Cease doing business with that jurisdiction immediately
C. Apply economic sanctions until otherwise notified by FATF
D. Apply counter-measures to that jurisdiction

Answer: D

Explanation:
The FATF is an inter-governmental body that sets standards and promotes effective implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system1. The FATF identifies jurisdictions with serious strategic deficiencies in their anti-money laundering / counter financing of terrorism (AML/CFT) regimes and issues public statements to warn the international community of the risks emanating from these jurisdictions2. These jurisdictions are also known as high-risk jurisdictions subject to a call for action, or the "black list" in external sources2. The FATF urges its members and all other jurisdictions to apply counter-measures to protect themselves from the money laundering and terrorist financing risks posed by these jurisdictions2. Counter- measures are enhanced due diligence or restrictive measures that go beyond the normal AML/CFT requirements, such as requiring additional information or documentation, rejecting transactions, restricting business relationships, or terminating correspondent banking relationships3. The FATF also provides guidance on the types and levels of counter-measures that may be appropriate, depending on the specific risks and circumstances of each jurisdiction3.
:
1: What is the FATF? | FATF
2: High-Risk Jurisdictions subject to a Call for Action | FATF
3: Guidance on Counter Proliferation Financing - The Implementation of Financial Provisions of United Nations Security Council Resolutions to Counter the Proliferation of Weapons of Mass Destruction | FATF

NEW QUESTION # 708
Which statements regarding the USA PATRIOT ACT best describe key aspects that have extraterritorial reach? (Choose three.)

A. It allows federal banking supervisors to require records of the identity of the owners of a foreign bank from a Fl operating in the US.
B. It allows the Secretary of the Treasury to order a US financial institution (FI) to close a correspondent account when a subpoena has not been responded by a foreign bank in a timely manner.
C. It obliges the government to trace the origin of the funds when a seizure of assets occurs in a correspondent account that has been opened and maintained for a foreign bank in the US.
D. It allows for the US Attorney General to subpoena records from a foreign bank with US correspondent accounts, including those that are located outside the US.
E. It excludes as foreign FIs businesses that would be considered broker-dealers, money transmitters, and currency exchangers.
F. It allows foreign banks to voluntarily designate a registered agent in the US to accept service of subpoenas.

Answer: B,D,E

NEW QUESTION # 709
A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan.
A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report.
Which of the following is the anti-money laundering officer legally permitted to do?

A. Discuss any aspects of the reported activity.
B. Send the deposit documents referenced in the suspicious transaction report.
C. Provide copies of the customer's loan documents.
D. Explain the customer's loan payment history.

Answer: B,C

NEW QUESTION # 710
The most effective tool used to detect structured transactions is

A. A comprehensive account-opening procedure.
B. An employee training program to detect suspicious transactions.
C. Verification of the source of funds.
D. A software program that can link apparently unrelated transactions.

Answer: D

Explanation:
Structured transactions are a common method of money laundering, where large amounts of cash are broken down into smaller deposits or withdrawals to avoid reporting thresholds or detection. The most effective tool to detect such transactions is a software program that can link apparently unrelated transactions by using various criteria, such as customer name, address, account number, identification number, transaction amount, date, time, location, etc. Such a program can help identify patterns, trends, and anomalies that may indicate money laundering activity.
Reference:
ACAMS CAMS Certification Study Guide1, Chapter 2: Money Laundering Risks and Methods, Section 2.2: Common Money Laundering Methods, pp. 51-52 ACAMS CAMS Certification Video Training Course2, Module 2: Money Laundering Risks and Methods, Lesson 2.2: Common Money Laundering Methods ACAMS CAMS Certification Exam Outline3, Domain 2: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), Task 2.2: Implement risk-based CDD, EDD and ongoing due diligence policies, procedures and processes, p. 13

NEW QUESTION # 711
Under the USA PATRIOT Act, in which scenario would the US not have jurisdiction?

A. Shell banks operating in foreign jurisdictions
B. Foreign branch of a bank located in the US
C. US bank subsidiaries located in foreign jurisdictions
D. Foreign bank with a US correspondent account

Answer: A

Explanation:
shell banks are banks that have no physical presence in any country and are not affiliated with any regulated financial institution. They are often used by money launderers and terrorist financiers to hide their illicit activities and evade regulatory oversight. The USA PATRIOT Act prohibits US financial institutions from opening or maintaining correspondent accounts with shell banks, and requires them to take reasonable steps to ensure that their foreign correspondent banks do not provide services to shell banks12. Therefore, the US does not have jurisdiction over shell banks operating in foreign jurisdictions, unless they are involved in transactions that violate US laws or sanctions.
Reference:
USA PATRIOT Act Section 313: Prohibition on U.S. Correspondent Accounts with Foreign Shell Banks1 Fact Sheet Regarding the Treasury Department's Use of Sanctions Authorities to Combat Money Laundering and Terrorist Financing3

NEW QUESTION # 712
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In today's rapidly changing ACAMS industry, the importance of obtaining ACAMS CAMS certification has become increasingly evident. With the constant evolution of technology, staying competitive in the job market requires professionals to continuously upgrade their skills and knowledge. The NewPassLeader is committed to completely assisting you in exam preparation with CAMS Questions. Success in the Certified Anti-Money Laundering Specialists (the 6th edition) (CAMS) certification exam is crucial in the tech sector, where the stakes are high, and a single mistake can have significant consequences.

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