ACAMS Certified Cryptoasset Anti-Financial Crime Specialist Examination CCAS Exam Dumps: Updated Questions & Answers (October 2025)

FATF standards specify that Virtual Asset Service Providers (VASPs) must keep records related to transactions and customer due diligence for at least 5 years after the completion of the transaction or end of the business relationship. This retention period facilitates effective AML investigations and regulatory reviews.

DFSA AML Module aligns with this timeframe, reinforcing that comprehensive record retention supports audit trails and compliance verification.

The risk-based approach requires tailoring AML/CFT controls to the level of assessed risk, enhancing due diligence for higher-risk customers.

Unhosted wallets are self-custody wallets controlled directly by the user without third-party oversight, posing higher anonymity and AML risks.

Ring signatures, used in Monero, blend a sender’s transaction with others to obscure sender identity, increasing AML risk.

Red flags related to anonymity include transactions where virtual assets are cashed out at exchanges from peer-to-peer hosted wallets with no clear business rationale. Such behavior indicates attempts to obscure the origin or destination of funds, characteristic of laundering activities.

Executing high-value transactions after inactivity (A) or frequent transfers to known VASPs (C) may be suspicious but are less directly linked to anonymity. Exchanging at a loss (D) is a different type of red flag.

FATF’s red flag indicators list (2021) highlights (B) as a key sign of anonymity-related risk.

CDD includes verifying the customer’s identity using reliable, independent documentation before or during onboarding.

Art dealers present a high money laundering risk due to the subjective valuation of art, ease of transferring assets, and the potential for using art as a vehicle to conceal illicit funds.

Registered hedge funds (A) and law firms (C) have AML obligations but are generally more regulated. Pharmaceutical companies (B) are less associated with high ML risk.

The DFSA AML and FATF typology papers specifically identify art dealing as a sector with heightened ML risk.

Bitcoin and Ethereum have fundamental differences important to investigators:

Variety of applications, assets, and networks (B): Ethereum supports diverse decentralized applications (dApps), multiple tokens (ERC-20, ERC-721), and various networks, complicating transaction tracing compared to Bitcoin’s primary use as a cryptocurrency.

Ledger model (D): Ethereum uses an account-based ledger model, while Bitcoin uses a UTXO (unspent transaction output) model, affecting how transactions are recorded and analyzed.

Transaction cost (A) and address length (C) differ but are less relevant for fund flow investigations.

The risks posed by different payment methods fall under the products and services risk category because payment methods are specific services and products offered by financial institutions or businesses. This category assesses inherent risks linked to how products are designed and used.

Geographical (A) relates to location risks; customers (B) relates to the nature of customers; new technologies (C) covers emerging tools but payment methods are classified under products/services.

EDD is required when dealing with customers or transactions from jurisdictions identified as high-risk for ML/TF. This aligns with FATF Recommendation 19 and local UAE regulations.