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| Topic |
Details |
| Topic 1 |
- Cryptoasset and Blockchain: This domain targets Blockchain Analysts and Crypto Risk Managers. It focuses on understanding cryptoasset technologies, blockchain fundamentals, and their operational characteristics. Candidates learn about cryptoasset transaction flows, wallets, exchanges, smart contracts, and the challenges these present to financial crime prevention.
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| Topic 2 |
- Risk Management Programs for Cryptoasset and Blockchain: This section measures expertise of Compliance Managers and Risk Officers in developing and implementing risk management frameworks specifically for the crypto sector. It includes procedures for assessing crypto-related financial crime risks, designing controls, monitoring compliance, and adapting to emerging threats within the cryptoasset ecosystem.
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| Topic 3 |
- AML Foundations for Cryptoasset and Blockchain: This section of the exam measures skills of Anti-Money Laundering (AML) Officers and Crypto Compliance Specialists. It covers foundational knowledge of AML principles tailored to the cryptoasset and blockchain environment, introducing the regulatory landscape, typologies of financial crime, and the evolving risks associated with cryptoassets.
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ACAMS Certified Cryptoasset Anti-Financial Crime Specialist Examination Sample Questions (Q31-Q36):
NEW QUESTION # 31
If a VASP suspects a transaction involves a sanctioned entity, it must:
- A. Report only if over USD 10,000
- B. Cancel the customer account immediately without reporting
- C. File a SAR and freeze assets if required by law
- D. Wait for law enforcement confirmation
Answer: C
Explanation:
Sanctions breaches require immediate reporting to competent authorities and freezing of assets where legally mandated.
NEW QUESTION # 32
A client at a virtual asset service provider (VASP) opened a wallet four weeks earlier with 201,000 USD. The client received a Bitcoin transfer for a total of 565,400 USD. Which is the strongest indication of an illicit source of funds for the client?
- A. The client declared a total wealth of 600,000 USD at account opening.
- B. Two days after opening the wallet, the client transfers 199,000 USD to a third party.
- C. Incoming funds moved through five intermediary wallets before being transferred from a foreign VASP.
- D. It was not possible to trace the client's IP address.
Answer: C
Explanation:
Funds moving through multiple intermediary wallets before arriving at the client's wallet indicate layering techniques used to obscure the source of funds, a classic money laundering tactic.
Transferring funds quickly (A) or declaring wealth (B) are less definitive indicators. An untraceable IP (C) raises concerns but is less conclusive than complex transactional layering.
NEW QUESTION # 33
Under DIFC AML rules, which governance body must approve the firm's business-wide risk assessment?
- A. Compliance department
- B. Internal audit team
- C. Board of Directors
- D. Chief Technology Officer
Answer: C
Explanation:
DFSA AML Module requires the Board to approve and oversee the firm's business-wide risk assessment, ensuring accountability at the highest governance level.
NEW QUESTION # 34
Which level of an organization is ultimately responsible for risk oversight?
- A. Chief risk officer
- B. Board of directors
- C. 2nd line compliance team
- D. 1st line compliance team
Answer: B
Explanation:
The ultimate responsibility for risk oversight lies with the Board of Directors. Senior management and the board have the fiduciary and governance duty to ensure that an effective risk management framework, including AML/CFT controls and cryptoasset-specific risks, is in place and functioning properly.
The DFSA GEN Module and AML Module explicitly allocate the highest accountability for compliance and risk oversight to the Board of Directors, while first and second lines support implementation and oversight respectively. The Chief Risk Officer (CRO) supports risk management but the board maintains ultimate accountability.
Key extracts:
GEN Module, Chapter 5: "Responsibility for compliance lies with every member of senior management, with ultimate oversight by the Board." AML Module Section 1.2 & 4.1: "Senior management and Board must ensure appropriate systems and controls for AML/CFT risk management." FATF Recommendation 2 underscores that senior management and boards are accountable for effective AML governance【GEN/VER64/05-24: Chapter 5; AML/VER25/05-24: Sections 1.2, 4.1】.
Thus, D is the correct answer.
NEW QUESTION # 35
Which first step should a VASP take upon detecting repeated transactions to a high-risk wallet?
- A. Immediately freeze the account.
- B. Publicly disclose the wallet.
- C. Notify all customers.
- D. Conduct internal investigation and enhanced due diligence.
Answer: D
Explanation:
EDD and internal review determine whether the activity is suspicious before regulatory reporting or freezing actions.
NEW QUESTION # 36
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