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CAMS Cheat Sheet

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Risks + Methods

  • 30% of exam
  • ML Stages Typologies High-Risk Sectors Customer Risk VASP Risk

Frameworks + Regulations

  • 20% of exam
  • FATF BSA Reports Sanctions Information Sharing RFI + Tipping

AFC Compliance Program

  • 30% of exam
  • Program Pillars Three Lines Risk Assessment CDD + EDD SAR Decision

Tools + Technologies

  • 20% of exam
  • Lifecycle Tools Monitoring Screening Data Quality Tool Picker

Quick Facts

  • Exam CAMS
  • Questions 120 MC/MS
  • Time 3.5 hours
  • Pass 75
  • Provider Pearson VUE
  • Eligibility 40 credits
  • Membership ACAMS required
  • Guessing No penalty

ML Path RI

  • Dirty cash gets placed, layered, integrated.
  • Placement Layering Integration

AML vs CFT RI

AML

  • Illicit source
  • Clean appearance
  • Profit protection

CFT

  • Illicit destination
  • Operational support
  • May use clean funds
  • Source vs destination

Typology Picker RI

  • Cash enters bank → Placement
  • Complex wires → Layering
  • Clean asset purchase → Integration
  • Invoices mismatch → TBML
  • Sub-threshold cash → Structuring
  • Crypto transfer chain → VASP risk

ML Stages RI

  • Placement Enter financial system
  • Layering Obscure audit trail
  • Integration Appear legitimate
  • Structuring Evade reporting
  • Commingling Blend dirty funds
  • Smurfing Many small actors

Financial Crimes RI

  • AML Stop laundering
  • CFT Stop terror funding
  • Sanctions Restrict targets
  • Fraud Deception for gain
  • ABC Bribery corruption controls
  • Tax evasion Illegal tax avoidance

Typologies RI

  • TBML Trade value abuse
  • Mirror trading Offsetting securities trades
  • Round tripping Circular funds
  • Human trafficking Exploitation proceeds
  • Cybercrime Digital illicit proceeds
  • Environmental crime Resource crime proceeds

High-Risk Sectors RI

  • MSB Money movement risk
  • PSP Payment aggregation risk
  • VASP Virtual asset risk
  • Casino Cash intensive
  • Real estate Large asset purchases
  • Gatekeepers Professional enablers

Customer Risk RI

  • PEP Corruption exposure
  • HNW Complex wealth
  • Shell company Opaque ownership
  • Trust Legal arrangement
  • Nominee Hidden controller
  • Bearer share Anonymous ownership

SAR Flow FR

  • Investigate, document, report, never tip.
  • Investigate Document Report No tipping

CTR vs SAR FR

CTR

  • Objective cash threshold
  • Over $10k
  • No suspicion needed

SAR

  • Subjective suspicion
  • Narrative required
  • No tipping off
  • Threshold vs suspicion

Report Picker FR

  • Cash over $10k → CTR
  • Suspicion detected → SAR
  • Foreign accounts → FBAR
  • Cash crosses border → CMIR
  • Trade cash receipt → Form 8300
  • LE request → 314(a)

FATF Core FR

  • R.1 Risk-based approach
  • R.10 Customer due diligence
  • R.11 Record keeping
  • R.12 PEP controls
  • R.15 New technologies
  • R.20 Suspicious reporting

Blocking vs Rejecting FR

Blocking

  • Freeze property
  • Hold value
  • Blocked interest

Rejecting

  • Decline transaction
  • Return funds
  • No blocked property
  • Freeze vs refuse

FATF Ownership FR

  • R.13 Correspondent banking
  • R.16 Wire transfers
  • R.17 Third-party reliance
  • R.24 Legal persons
  • R.25 Legal arrangements
  • R.40 International cooperation

314(a) vs 314(b) FR

314(a)

  • Law enforcement
  • Mandatory search
  • FinCEN request

314(b)

  • FI to FI
  • Voluntary sharing
  • Safe harbor
  • Government vs peers

BSA Reports FR

  • CTR Cash over $10k
  • SAR Suspicious activity
  • FBAR Foreign accounts
  • CMIR Currency transport
  • Form 8300 Trade cash receipt
  • Recordkeeping Generally five years

PATRIOT Act FR

  • 311 Special measures
  • 312 Foreign correspondent EDD
  • 313 No shell banks
  • 314(a) Law-enforcement requests
  • 314(b) FI voluntary sharing
  • 326 CIP rule

Sanctions FR

  • SDN Blocked person list
  • 50% Rule Aggregate blocked ownership
  • Blocking Freeze property
  • Rejecting Return prohibited payment
  • SSI Sectoral restrictions
  • License Authorized exception

BSA Pillars PR

  • Controls, officer, training, testing, CDD.
  • Controls Officer Training Testing CDD

CDD vs EDD PR

CDD

  • Baseline understanding
  • Normal risk
  • Ongoing monitoring

EDD

  • Extra measures
  • Higher risk
  • Senior scrutiny
  • Risk drives depth

Program Action Picker PR

  • Unknown customer → CIP
  • High-risk customer → EDD
  • Control failure → Look-back
  • Alert seems suspicious → Investigate
  • Suspicion confirmed → File SAR
  • Program weakness → Independent testing

Program Pillars PR

  • Controls Ongoing compliance
  • Officer Day-to-day owner
  • Training Appropriate personnel
  • Testing Independent assurance
  • CDD Risk-based procedures
  • CIP Identity verification

Risk Lens PR

  • Customer, product, geography, channel drive risk.
  • Customer Product Geography Channel

Inherent vs Residual PR

Inherent

  • Before controls
  • Raw exposure
  • Business profile

Residual

  • After controls
  • Remaining exposure
  • Board appetite
  • Before vs after

Three Lines PR

  • First line Owns risk
  • Second line Sets oversight
  • Third line Independent assurance
  • Board Oversight accountability
  • Senior management Resources culture
  • MLRO Reporting lead

Risk Assessment PR

  • Products Service exposure
  • Customers Relationship exposure
  • Geography Jurisdiction exposure
  • Channels Delivery exposure
  • Inherent risk Before controls
  • Residual risk After controls

Tool Flow TO

  • Screen names; monitor behavior; validate models.
  • Screen Monitor Validate

Screening vs Monitoring TO

Screening

  • List matching
  • Customer or payment
  • Point-in-time

Monitoring

  • Behavior patterns
  • Transaction history
  • Ongoing detection
  • Names vs behavior

Tool Picker TO

  • Check sanctions → Screening
  • Detect patterns → TM
  • Refresh KYC → pKYC
  • Trace wallets → Blockchain analytics
  • Explain alerts → Case management
  • Tune scenarios → Model validation

Customer Lifecycle TO

  • Onboarding Initial identity controls
  • KYC Know customer
  • CDD Understand relationship
  • EDD Higher-risk measures
  • pKYC Event-driven refresh
  • Offboarding Exit decision

Technology Controls TO

  • Screening List matching
  • TM Pattern detection
  • Rules Threshold scenarios
  • Models Statistical detection
  • AI Assisted analysis
  • Blockchain analytics Wallet tracing

Data Quality TO

  • Completeness Required fields present
  • Accuracy Values reflect reality
  • Timeliness Current enough
  • Lineage Source to output
  • Taxonomy Shared definitions
  • Access Controlled permissions

Common Traps

CTR Is Not SAR

  • Cash threshold report ≠ Suspicion report

No Tipping Off

  • Internal escalation allowed ≠ Customer disclosure forbidden

PEP Is Risk-Based

  • Higher scrutiny ≠ Not automatic exit

EDD Needs Evidence

  • Document source of funds ≠ Do not rely titles

50 Percent Aggregates

  • Direct ownership counts ≠ Indirect ownership counts

Tools Need Humans

  • AI assists analysts ≠ Analysts own decisions

Risk Changes Over Time

  • Onboarding snapshot ≠ Ongoing monitoring

Last Minute

  • 1. Blueprint: 30/20/30/20
  • 2. Answer all questions; no penalty
  • 3. ML stages: placement, layering, integration
  • 4. FATF R.1 means risk-based approach
  • 5. CTR: cash over $10k
  • 6. SAR: suspicion; no tipping
  • 7. OFAC 50% aggregates ownership
  • 8. CDD baseline; EDD higher risk
  • 9. Three lines: own, oversee, assure
  • 10. Inherent before; residual after controls
  • 11. Screen names; monitor behavior
  • 12. Document every escalation decision

CAMS

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