Certified AML Fintech Compliance Associate
(CAFCA) Latest Update 2025-2026 Exam 140
Questions with 100% Verified Correct Answers
Guaranteed A+
A controlling person is a non-owner or owner with less than 25% ownership who
exercises management and operational control of the legal person. - CORRECT
ANSWER: True
An anti-money laundering solution should: - CORRECT ANSWER: Focus on money
laundering, but also feed into wider anti-financial crime efforts, such as the fraud
function
As an AML investigator it is your job to: - CORRECT ANSWER: Investigate and report
facts
An AML investigator must investigate all suspicious activity, and report the facts that
support the activity. If something seems suspicious, it probably is. It is not up to the
investigator to determine guilt or innocence, but to gather and report the facts.
Based on the July 2020 OFAC enforcement case against Amazon, which action would
have enabled the company to ensure the proper screening of various sanctioned
parties? - CORRECT ANSWER: Manual screening
Based on the PayPal Office of Foreign Assets Control (OFAC) settlement, what would
accurately reflect FinTech sanctions risk? - CORRECT ANSWER: FinTech products can
be used to make low-value, high-volume transactions to sanctioned countries or on
behalf of a sanctions target
Based on the YouTrip fraud case, which statements reflects fraud risk in FinTechs? -
CORRECT ANSWER: FinTechs are at risk of fraud when they do not have appropriate
controls in place.
,Beneficial ownership - CORRECT ANSWER: Person(s) having ultimate control over an
account, through ownership or other means
Account name might not be controller name
Regulation requires knowing beneficial owner(s)
Best way to accurately describe the use of customer risk assessment (CRA) in
FinTechs? - CORRECT ANSWER: CRAs are designed based on an organization's
financial crime risk assessment
Best ways to establish risk appetite - CORRECT ANSWER: Start early
Set limits
Link to risk assessment
Quantify with data points
Communicate and track
Controlling risk - CORRECT ANSWER: Controls are critical to success
Risk assessment guides controls
Three categories: Preventive, Detective, Corrective
Critical thinking in investigations requires - CORRECT ANSWER: Logic, structure,
challenge
Identify biases
Recognize knowledge gaps
Formulate conclusions
Customer due diligence (CDD) categories - CORRECT ANSWER: CDD encompasses
the entire lifecycle of due diligence
Customer identification (often CIP)
, Simplified due diligence (often SDD)
Standard due diligence for most customers
Enhanced due diligence (often EDD)
FinTech recordkeeping requirements - CORRECT ANSWER: CDD measures
Internal AML controls
Suspicious activity reports
AML training
How do you determine beneficial ownership? - CORRECT ANSWER: Know your
organization's threshold
If UBO cannot be found
US: Control prong must certify that no one person owns 25%
EU: Natural person(s) holding senior management positions are UBO
When impossible to identify, ask yourself why
How do you document your research using an audit trail? - CORRECT ANSWER:
Document steps taken as part of your risk-based approach
Include how you resolved any inaccuracies or false matches
Properly store the data for privacy and security purposes
How do you select standard customer research sources - CORRECT ANSWER:
Attributes of reliable sources
Industry-recognized
Reputable and unbiased
Internal and external consistency
Recent publication date
(CAFCA) Latest Update 2025-2026 Exam 140
Questions with 100% Verified Correct Answers
Guaranteed A+
A controlling person is a non-owner or owner with less than 25% ownership who
exercises management and operational control of the legal person. - CORRECT
ANSWER: True
An anti-money laundering solution should: - CORRECT ANSWER: Focus on money
laundering, but also feed into wider anti-financial crime efforts, such as the fraud
function
As an AML investigator it is your job to: - CORRECT ANSWER: Investigate and report
facts
An AML investigator must investigate all suspicious activity, and report the facts that
support the activity. If something seems suspicious, it probably is. It is not up to the
investigator to determine guilt or innocence, but to gather and report the facts.
Based on the July 2020 OFAC enforcement case against Amazon, which action would
have enabled the company to ensure the proper screening of various sanctioned
parties? - CORRECT ANSWER: Manual screening
Based on the PayPal Office of Foreign Assets Control (OFAC) settlement, what would
accurately reflect FinTech sanctions risk? - CORRECT ANSWER: FinTech products can
be used to make low-value, high-volume transactions to sanctioned countries or on
behalf of a sanctions target
Based on the YouTrip fraud case, which statements reflects fraud risk in FinTechs? -
CORRECT ANSWER: FinTechs are at risk of fraud when they do not have appropriate
controls in place.
,Beneficial ownership - CORRECT ANSWER: Person(s) having ultimate control over an
account, through ownership or other means
Account name might not be controller name
Regulation requires knowing beneficial owner(s)
Best way to accurately describe the use of customer risk assessment (CRA) in
FinTechs? - CORRECT ANSWER: CRAs are designed based on an organization's
financial crime risk assessment
Best ways to establish risk appetite - CORRECT ANSWER: Start early
Set limits
Link to risk assessment
Quantify with data points
Communicate and track
Controlling risk - CORRECT ANSWER: Controls are critical to success
Risk assessment guides controls
Three categories: Preventive, Detective, Corrective
Critical thinking in investigations requires - CORRECT ANSWER: Logic, structure,
challenge
Identify biases
Recognize knowledge gaps
Formulate conclusions
Customer due diligence (CDD) categories - CORRECT ANSWER: CDD encompasses
the entire lifecycle of due diligence
Customer identification (often CIP)
, Simplified due diligence (often SDD)
Standard due diligence for most customers
Enhanced due diligence (often EDD)
FinTech recordkeeping requirements - CORRECT ANSWER: CDD measures
Internal AML controls
Suspicious activity reports
AML training
How do you determine beneficial ownership? - CORRECT ANSWER: Know your
organization's threshold
If UBO cannot be found
US: Control prong must certify that no one person owns 25%
EU: Natural person(s) holding senior management positions are UBO
When impossible to identify, ask yourself why
How do you document your research using an audit trail? - CORRECT ANSWER:
Document steps taken as part of your risk-based approach
Include how you resolved any inaccuracies or false matches
Properly store the data for privacy and security purposes
How do you select standard customer research sources - CORRECT ANSWER:
Attributes of reliable sources
Industry-recognized
Reputable and unbiased
Internal and external consistency
Recent publication date
