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

An internal audit team is reviewing the anti-financial crime (AFC) program of its firm. Which of the following attributes of the third line of defense would be most critical to ensure unbiased and effective oversight?

• A. Consistency of approach
• B. Periodic training of the function
• C. Independent testing
• D. Qualification of the team

Which statements regarding using network analysis tools to determine links to criminality are true? (Choose three.)

• A. Network analysis tools are an efficient means of generating relevant results because they only need a limited amount of data and computation power and artificial intelligence (Al) allows less- skilled people to quickly learn to use these systems
• B. Analyzing relationships between individuals in a social network allows for the identification of hierarchies, the detection of behaviors and geographical movements, or an understanding of how groups are organized
• C. When using network analysis data to fight money laundering and financial crime, data protection and privacy can be disregarded because fighting crime takes precedent
• D. When using artificial intelligence (Al) with network analysis tools, it must be ensured that the algorithms used are not biased towards social criteria, such as race, gender, or religion
• E. Network analysis allows for the identification of individuals or entities in a network by analyzing connections or links between them and can be used to study a wide range of systems, such as social or transportation networks

The Financial Intelligence Unit (FIU) in a country has received a suspicious activity report (SAR) which involves significant suspicious fund transfers, not only within its jurisdiction but also in a foreign country. Further information is required from the foreign country to determine whether the matter needs to be referred for prosecution locally. Which of the following statements is true in this scenario?

• A. It is against international laws on data protection to access information from foreign countries
• B. Sovereignty of nations means that information cannot be accessed from foreign countries
• C. Any information related to money laundering can be received from any organization at any time regardless of jurisdiction
• D. Countries that are members of the Egmont Group can request assistance for information from each other

How do nominees benefit criminals misusing thorn for money laundering purposes? (Select Two.)

• A. Allow beneficial owners to provide proxies lot voting on corporate decisions
• B. Derail investigations
• C. Obscure beneficial ownership
• D. Allow domicile in the nominee's jurisdiction

Which criminal activities could possibly serve as a predicate offense to financial crimes or money laundering activity? (Select Three.)

• A. Arson
• B. Bribery or corruption
• C. Fraud
• D. Assault
• E. Organized crime or racketeering