ACAMS Advanced CAMS-Audit Certification Exam Advanced-CAMS-Audit Exam Dumps: Updated Questions & Answers (October 2025)

Identification of Themes Relevant to Trade Finance Services:

Trade finance services for multinational companies participating in China's Belt and Road initiatives involve transactions with potential geopolitical, regulatory, and economic risks​​.

These transactions generally encompass cross-border activities, high-value accounts, and potentially politically exposed persons (PEPs)​​.

Scoring Theme A (11.2): Economic Activity and Geographical Risks:

As these services involve international trade, they are inherently linked to economic activity and geographical risks. FATF guidelines indicate the necessity to evaluate regions with different AML/CFT maturity levels. This is consistent with theme 11.2, focusing on the understanding and mitigation of risks associated with economic and geographical contexts​​.

Scoring Theme B (11.3): Customer Due Diligence and Enhanced Measures for High-Risk Profiles:

The target clientele includes multinational companies, which might require enhanced customer due diligence (EDD), especially when engaging with entities or PEPs from countries with varying regulatory controls​​.

FATF Recommendations and Basel Committee insights emphasize robust customer identification, verification, and ongoing monitoring, aligning with theme 11.3’s requirements​​.

Not Affected Themes:

C (12.1):This theme pertains more to specific reporting or transaction monitoring requirements that might not directly relate to the initiation of trade finance services.

D (12.2) and E (13.1):These themes are typically associated with procedural adjustments rather than the scoring of risk profiles.

Advanced CAMS-Audit Framework Alignment:

Advanced CAMS-Audit highlights the role of structured compliance frameworks in mitigating risks tied to strategic initiatives like the Belt and Road​​.

Evaluators assess the institution's alignment with FATF, Basel Committee, and regional guidelines to ensure adherence to best practices for risk mitigation​​.

Conclusion:The scoring themes A (11.2) and B (11.3) are significantly influenced by the introduction of trade finance services targeting multinational corporations under China's Belt and Road initiatives. This is due to the intertwined economic and geographical risks and the requisite enhanced due diligence measures for high-risk customer segments.

Critical Impact:

Absence of CDD processes during product launch leaves the institution exposed to onboarding high-risk customers without proper risk assessment​​.

Guidelines and Compliance:

FATF standards emphasize embedding CDD in all stages of customer interaction to mitigate ML/TF risks​​.

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C:The purpose and intended nature of the business relationship are fundamental elements of customer due diligence (CDD) and should be reviewed in the risk assessment process to understand the rationale behind the customer's activities and their alignment with expected patterns​​.

D:Identifying and verifying the ultimate beneficial owners (UBOs) is a core principle of the KYC process to ensure transparency and mitigate risks related to hidden ownership or illicit activities​​.

Transaction Monitoring Effectiveness:

A. Data Quality: Accurate data mapping ensures scenarios detect relevant risks, reducing errors in monitoring​​.

D. False Positives: Monitoring false positive ratios improves system efficiency and minimizes unnecessary alerts​​.

Incorporating Comprehensive Risk Factors

By including an assessment of channel, credit, and transaction risks, the client’s overall risk profile is accurately determined. This aligns with risk-based approaches emphasized by FATF and CAMS-Audit standards.

These risk factors provide a granular view of the client’s risk level, ensuring proper classification into Standard or Enhanced Due Diligence categories​​.

Regulatory Alignment

FATF Recommendations mandate that client risk assessments consider the products, services, and delivery channels used, as well as geographic and transactional risks​.

ConclusionImplementing composite AML and sanctions risk scores ensures the institution is compliant with regulatory standards and adequately mitigates risks associated with different client profiles.

Reporting to the Head Office Board Committee:

Independent testing reports must be submitted to the highest governance body to ensure proper oversight and alignment with global AML/CFT policies.

This ensures that findings are addressed at the appropriate organizational level.

CAMS-Audit and FATF Guidelines:

Governance frameworks outlined in CAMS-Audit and FATF recommendations emphasize the importance of board-level oversight for critical compliance functions​​

Comparison Against Past Suspicious Activity Reported:

This evaluates whether the new thresholds are identifying similar or improved patterns of suspicious activity compared to prior thresholds.

Helps validate that the updated thresholds align with the institution's AML risk profile and regulatory expectations.

Above-the-Line and Below-the-Line Testing:

Above-the-line tests verify that alerts generated by the thresholds include expected suspicious transactions.

Below-the-line tests assess transactions below the threshold to ensure no significant suspicious activities are missed.

CAMS-Audit Reference:

Advanced CAMS-Audit frameworks emphasize the importance of both historical comparison and robust testing methodologies to validate transaction monitoring system updates​​.

Key Assessment Factors for AML Structure Changes:

Staffing levels ensure the AML department has adequate resources to meet its obligations, especially in light of new responsibilities or organizational changes​​.

Irrelevant Options:

A:Interaction with internal audit is important but not directly tied to structural changes.

C:Changes in board members are governance-related, not operational AML concerns.

D:Reporting lines are relevant but secondary to resource adequacy.

First Steps for Sampling:

Reviewing onboarding policies ensures the sampling aligns with established risk criteria, improving the relevance and accuracy of the audit findings​​.

Regulatory Emphasis:

FATF guidance stresses aligning audit sampling with organizational risk assessments and onboarding standards​​.

A. Documentation Requirements: Proper documentation ensures transparency and traceability of the testing process and outcomes.

B. Sampling Method: Establishing the sampling methodology ensures that the test results are representative of the population and risks being assessed.

D. Test Objectives and Population Selection: These elements help align the testing approach with the identified risks and objectives, ensuring the focus is on mitigating the most critical issues.

CAMS-Audit emphasizes robust documentation and sampling techniques to maintain the integrity and reliability of audit findings​​.