Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

In the context of the ACAMS exam, what does the term 'scheme' refer to?

1. An evil plot

2. A simple plan

3. Any legal business activity

4. A specific financial fraud

The correct answer is: A simple plan

In the context of the ACAMS exam, the term 'scheme' typically refers to a simple plan or arrangement made to achieve a particular outcome. In the realm of anti-money laundering, this can pertain to the methods employed by individuals or organizations to facilitate money laundering or other illicit financial activities. It highlights how complicated financial crimes can often start with straightforward plans that evolve into more complex operations. Understanding 'scheme' in this context is crucial for identifying patterns of behavior that might indicate potential money laundering or fraud. A scheme can involve various actors working together under a seemingly innocuous agreement that hides the true intent of their actions. Recognizing this helps compliance professionals identify red flags and assess risks associated with certain activities. The other options, while they touch on various interpretations of the term 'scheme,' do not accurately convey its specific meaning in this regulatory and compliance framework where the focus is on financial crimes and illicit strategies used to bypass legal standards.