CAMS Cheat Sheet 2026

The 30 highest-yield CAMS facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which of the following KYC program components is the Basel Committee's 2001 study emphasizing? → Monitor.
2. What are the primary components typically assessed in a financial institution's AML risk assessment? → Customer/product/service risk, geographic risk, and channel/delivery risk
3. The 'Black Market Peso Exchange' (BMPE) is an example of which major money laundering typology? → Trade-based money laundering
4. Recording data from non-documentary or document-based sources. → Specified Unlawful Activity
5. What are the three levels of customer due diligence recognized in AML frameworks? → Simplified, standard, enhanced
6. What is an 'inherent risk' in the context of an AML risk assessment? → The level of risk present before any AML controls or mitigating measures are applied
7. Which stage of the money laundering process is generally considered the most difficult for law enforcement and financial institutions to detect? → Layering
8. Which typology involves moving illicit funds through a series of foreign correspondent banking relationships to obscure their origin? → Correspondent banking layering through nested accounts
9. Which of the following programs is NOT administered by OFAC? → USA PATRIOT Act Section 314(a) information sharing
10. Trade-Based Money Laundering (TBML) most commonly involves which of the following techniques? → Manipulating trade invoices and shipping documents to transfer value across borders
11. Which of the following would NOT typically be included in the narrative of a well-written SAR? → The institution's opinion on whether the subject is guilty of money laundering
12. When is a financial institution NOT required to file a SAR even if it suspects illegal activity? → When the transaction is below $5,000 and involves an unknown customer
13. Under the BSA, what is the threshold amount that triggers mandatory Currency Transaction Report (CTR) filing? → $10,000
14. Which of the following entities may be more at risk from TPPPs that offer services to financial institutions? → online retailers
15. What is the minimum civil money penalty FinCEN can assess for a willful BSA violation per transaction? → $25,000
16. Which of the following services does Credit Union Central handle and perform? → Processing of electronic funds transfers (EFT)
17. What is the primary role of a Chief Compliance Officer (CCO) in an AML program? → To oversee, implement, and maintain the institution's AML compliance program
18. A bank employee inadvertently discloses to a customer that a SAR has been filed on their account. What is this called and what are the consequences? → Tipping off — a federal crime that can result in criminal prosecution
19. What are the three classic stages of the money laundering process? → Placement, layering, integration
20. In money laundering, a 'shell company' is best defined as: → A legal entity with no genuine business operations used to conceal asset ownership
21. Under the BSA, how long must financial institutions retain records related to funds transfers of $3,000 or more? → 5 years
22. What is 'placement' in the context of money laundering? → The first stage where illicit cash is introduced into the financial system
23. The FATF Recommendations require countries to criminalize which two underlying offenses to money laundering? → All serious offenses generating proceeds AND terrorist financing
24. How often should AML policies and procedures typically be reviewed and updated? → At least annually or whenever significant regulatory changes occur
25. Which of the following measures to integrate RDC processing into other controls must be performed in order to control the risks related to RDC? → Systems for preventing fraud
26. Which stage of the money laundering process involves introducing illicit cash into the financial system for the first time? → Placement
27. Which federal agency is primarily responsible for enforcing the Bank Secrecy Act and AML regulations for banks in the U.S.? → FinCEN
28. What action should a financial institution take when a customer refuses to provide information required for CDD/EDD? → Consider declining or exiting the relationship and filing a SAR if suspicion warrants it
29. Under FinCEN's Customer Due Diligence (CDD) Rule, which category of beneficial owner must be identified for legal entities? → Each individual owning 25% or more of the entity and one control person
30. Which of these describes an integration transaction in the cycle of money laundering? → Entering other markets where money can be invested in commercial projects