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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Tools, Technologies and Investigations22%- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance
- 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
Building and Managing Anti-Financial Crime Compliance Programs28%- Audit, testing and continuous improvement
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- 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. Legal record retention requirements
  • 3. Suspicious activity reporting (SAR/STR)
- Training, awareness and internal communication
Global Anti-Financial Crime Frameworks, Governance and Regulations24%- Regional and national regulations
  • 1. USA PATRIOT Act and extraterritorial laws
  • 2. EU AML Directives
- International standards and bodies
  • 1. FATF 40 Recommendations
  • 2. Basel Committee, Wolfsberg Group, UN conventions
- Governance, accountability and ethics
  • 1. Roles of board, senior management and compliance function
  • 2. Ethical obligations and professional standards
Understanding Risks and Methods of Financial Crime26%- Money laundering stages and techniques
  • 1. Methods across financial sectors and businesses
  • 2. Placement, layering, integration
- Terrorism financing and proliferation financing
  • 1. Distinctions from money laundering
  • 2. Sources and mechanisms
- 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

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

A financial institution's (FI's) policy is to apply enhanced due diligence (EDD) for every new client to ensure the effectiveness of the program. How should a consultant advise the FI's management team?

  • A. Suggest EDD for 50% of the clients is appropriate.
  • B. Suggest the management team select the clients that are chosen for EDD.
  • C. Suggest the management team ask the regulator for advice on EDD measures.
  • D. Suggest the FI needs to implement a risk-based approach for EDD.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Open-source intelligence (OSINT) is the practice of gathering, analyzing, and disseminating information from publicly available sources to address specific intelligence requirements. What is considered the most effective method for ensuring the reliability of open-source information?

  • A. Ignoring social media sources
  • B. Only relying on information from international news agencies
  • C. Excluding information obtained from the dark web
  • D. Cross-checking with multiple sources
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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The compliance officer at an EU bank is investigating one of the customer accounts maintained with the bank for the last two years. According to bank records, the company's primary economic activity is import and export of petrochemical products Over a period of one year, the account transactions have exceeded US$500 million with various high-value inward wire transfers received from suppliers in Yemen followed by outward wire transfers to counterparties in Azerbaijan. Which factor should give the compliance officer the greatest concern If observed in the investigation?

  • A. Media searches reveal a report that the customer was accused of misconduct three years ago.
  • B. The EU bank considers the origin and destination countries Involved in the transactions to be high-risk.
  • C. The EU bank received no originator or beneficiary information for the wire transfers.
  • D. The customer specializes in the import and export of petrochemical products.
  • E. The customer's activity includes multiple cross-border transactions involving various counterparties.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

A bank is using a network analysis tool to identify links between its customers and criminal entities. The system identifies potential indirect relationships but is unable to prioritize them. What should the compliance officer do to enhance the tool's effectiveness?

  • A. Implement risk-scoring algorithms for indirect connections
  • B. Integrate external databases and social media profiles to cross-check flagged entities
  • C. Manually review all flagged relationships for accuracy
  • D. Focus on direct connections between customers and criminal entities
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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During which process must a country demonstrate to the Financial Action Task Force (FATF) that it has an effective framework to protect the financial system from abuse?

  • A. Technical analysis
  • B. Mutual evaluation
  • C. Regulatory overview
  • D. Formal assessment
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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