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The CAMS certification exam covers a wide range of topics related to AML, including money laundering techniques, AML regulations, risk management, and compliance. CAMS exam is designed to test both theoretical knowledge and practical skills, and it requires candidates to demonstrate their ability to apply AML concepts to real-world scenarios. CAMS exam consists of 120 multiple-choice questions, and candidates have four hours to complete it. To be eligible to take the CAMS certification exam, candidates must have at least 40 hours of AML training or equivalent experience, and they must also pass a background check. Obtaining the CAMS certification can help professionals advance their careers in the AML field and demonstrate their commitment to the highest standards of AML compliance.

ACAMS CAMS Exam covers a wide range of topics related to anti-money laundering, including risk assessment, regulatory compliance, due diligence, and investigations. CAMS Exam consists of multiple-choice questions and is administered in a computer-based format. To pass the exam, candidates must demonstrate a thorough understanding of the AML landscape and be able to apply this knowledge to real-world scenarios.

The Association of Certified Anti-Money Laundering Specialists (ACAMS) is a professional organization dedicated to preventing money laundering and financial crime. The ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a rigorous certification exam designed to test the knowledge and skills of professionals working in the anti-money laundering field. The CAMS certification is highly regarded in the industry and is often a requirement for many AML-related job positions.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q721-Q726):

NEW QUESTION # 721
Which is an example of structuring with regards to money laundering?

A. A person deposits substantial sums of currency into a number of local branches by making several cash transactions of less than 10,000 USD.
B. A person uses the hawala system to transfer 10,000 USD from Australia to a family member in China.
C. A person deposits a large amount of more than 100,000 USD in cash and transfers it to another person's account.
D. A person deposits 100,000 USD in cash at a bank.

Answer: A

Explanation:
Structuring is a technique used in the placement stage of money laundering, in which the launderer deposits or withdraws cash in amounts below the reporting threshold to avoid detection or suspicion. Structuring is also known as smurfing, because it involves using multiple individuals or locations to carry out the transactions. Structuring is illegal in many jurisdictions and is a red flag for money laundering12.
Option A is not an example of structuring, but of using an alternative remittance system, which is a method of transferring money outside the formal financial sector. Hawala is a type of alternative remittance system that relies on a network of brokers who settle the transactions through trust and honor. Hawala can be used for legitimate purposes, but also poses a risk for money laundering and terrorist financing13.
Option B is not an example of structuring, but of a large cash transaction, which is a common indicator of money laundering. Large cash transactions may involve the proceeds of crime or the attempt to evade taxes or currency controls. Financial institutions are required to report large cash transactions above a certain threshold to the relevant authorities14.
Option D is not an example of structuring, but of a wire transfer, which is a method of moving funds electronically from one account to another. Wire transfers can be used for legitimate purposes, but also pose a risk for money laundering and terrorist financing, especially if they involve high-risk jurisdictions, shell companies, or complex chains of transactions1 .
References: 1: ACAMS (2020), Study Guide for the Certification Examination, 6th Edition, ACAMS, Miami, FL, USA, www.acams.org/en/cams-certification-package-6th-edition, pp. 12-14, 18-19, 22-23, 26-27. 2:
ACAMS (2020), CAMS Examination Preparation Video, 6th Edition, ACAMS, Miami, FL, USA, www.
acams.org/en/cams-certification-package-6th-edition, Module 1, Section 1.2.2. 3: ACAMS (2020), CAMS Examination Preparation Video, 6th Edition, ACAMS, Miami, FL, USA, www.acams.org/en/cams- certification-package-6th-edition, Module 1, Section 1.2.3. 4: ACAMS (2020), CAMS Examination Preparation Video, 6th Edition, ACAMS, Miami, FL, USA, www.acams.org/en/cams-certification-package-
6th-edition, Module 1, Section 1.2.1. : ACAMS (2020), CAMS Examination Preparation Video, 6th Edition, ACAMS, Miami, FL, USA, www.acams.org/en/cams-certification-package-6th-edition, Module 1, Section
1.2.4.

NEW QUESTION # 722
In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

A. Pay through accounts
B. Correspondent accounts
C. Concentration accounts
D. Trust accounts

Answer: C

Explanation:
Reference:http://www.wolfsberg-principles.com/privat-banking.html(1.2.2, 5th bullet)

NEW QUESTION # 723
A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

A. Reputation risk for the port
B. Increased organized crime and corruption
C. US sanctions
D. Loss of tax revenue

Answer: B

Explanation:
Predicate offenses are the criminal activities that generate the proceeds that are later laundered through money laundering schemes. A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer from increased organized crime and corruption, as criminals would have more opportunities and incentives to engage in illicit activities and evade detection and punishment. Organized crime and corruption can have serious social and economic consequences for a country, such as undermining the rule of law, eroding public trust, threatening national security, harming human rights, reducing economic growth, and distorting market competition123.
Reference:
CAMS Certification Package - 6th Edition | ACAMS
Understanding Predicate Offences: The Hidden Web of Money Laundering
Predicate Offenses In Money Laundering - Financial Crime Academy
AML Terms Easily Confused: Predicate Offense vs. Money Laundering

NEW QUESTION # 724
Whichsituation involving a vendorpresentsincreased AML and/or sanctions riskto an organization?

A. The vendor isorganized as a privately held company.
B. The vendor's sales representative was arefugee from a sanctioned jurisdictionas a child.
C. The vendor hasno individuals that own or control more than 10% of the company.
D. The vendor provides services toend users located in an area subject to economic sanctions.

Answer: D

Explanation:
Vendors and third-party relationships pose financial crime risks, particularly when theyoperate in sanctioned jurisdictions. Organizations must ensure thatthey are not directly or indirectly violating economic sanctionswhen engaging with vendors.
* Option D (Correct):If a vendor provides services tosanctioned entities or individuals, an organizationrisks violating OFAC, EU, or UN sanctions laws, potentially leading tofines, legal action, or reputational damage. Engaging in business in asanctioned regionrequires strictdue diligence and licensing.
* Option A (Incorrect):Thepersonal backgroundof an employee isnot relevantunless theycurrently have direct ties to a sanctioned jurisdiction or person.
* Option B (Incorrect):Alack of majority ownershipdoes not automatically indicateAML risk; however, organizations should still assessownership structures for opacity.
* Option C (Incorrect):Privately held companiescan betransparentif theydisclose ownership and operate within compliance standards.
Why This Matters:
Failing toscreen vendors for sanctions riskscan result insevere penalties, reputational harm, and regulatory scrutiny.OFAC (U.S.), EU, and UN sanctions prohibit business transactions with specific countries, entities, and individuals. Organizations mustconduct thorough due diligencetoidentify and mitigate sanctions risks.
Reference:
OFAC Sanctions Guidelines & Compliance Framework
EU Sanctions Regulations
FATF Recommendation 6 (Targeted Financial Sanctions Related to Terrorism & Proliferation)

NEW QUESTION # 725
In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream parlor, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

A. Checks drawn on banks in foreign countries
B. Regular cash deposits
C. Repeated checks to the same payees
D. The wires to foreign countries

Answer: A,D

NEW QUESTION # 726
......

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