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Question 1

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The Financial Action Task Force (FATF) publishes which authoritative international AML/CFT framework?

The 40 Recommendations on AML/CFT/Counter-Proliferation Financing

The Basel III Capital Accord

The Wolfsberg Principles

The OECD Transfer Pricing Guidelines

to track

2026 Statistics

Key Facts: CFCS Exam

135

Exam Questions

ACFCS (scenario-based)

4 hours

Time Limit

Online via Kryterion OLP

88/135

Passing Score (~65%)

ACFCS published threshold

2 years

Certification Validity

With CPE for recertification

$1,295-$1,495

Exam Fee

Member / non-member

Online

Delivery Method

Kryterion Online Proctoring

The CFCS exam has 135 scenario-based multiple-choice questions over 4 hours with an approximate passing score of 88/135 (~65%). It is delivered online via Kryterion proctoring. Exam fee is $1,295 (ACFCS member) / $1,495 (non-member). Certification is valid for 2 years; recertification requires continuing education. The exam covers AML, fraud, sanctions, corruption/FCPA/UKBA, tax evasion, cybercrime, and investigations — with global (US + UK + EU + APAC) regulatory frameworks.

Sample CFCS Practice Questions

Try these sample questions to test your CFCS exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1The Financial Action Task Force (FATF) publishes which authoritative international AML/CFT framework?

A.The 40 Recommendations on AML/CFT/Counter-Proliferation Financing

B.The Basel III Capital Accord

C.The Wolfsberg Principles

D.The OECD Transfer Pricing Guidelines

Explanation: FATF's 40 Recommendations establish the global standard for AML, CFT, and counter-proliferation financing. FATF also performs Mutual Evaluations of member jurisdictions and maintains the 'Increased Monitoring' (grey) and 'High-Risk Jurisdictions Subject to a Call for Action' (black) lists.

2Which U.S. statute criminalizes money laundering as a standalone federal offense?

A.Bank Secrecy Act of 1970

B.Money Laundering Control Act of 1986 (18 U.S.C. 1956 and 1957)

C.Glass-Steagall Act

D.Securities Act of 1933

Explanation: The Money Laundering Control Act of 1986 created 18 U.S.C. 1956 (money laundering) and 18 U.S.C. 1957 (monetary transactions in criminally derived property over $10,000). The BSA imposed reporting/recordkeeping but did not criminalize laundering itself.

3Which UK statute is the primary AML law governing money laundering offenses and suspicious activity reports in the UK?

A.Proceeds of Crime Act 2002 (POCA)

B.UK Bribery Act 2010

C.Financial Services Act 2012

D.Serious Fraud Act 1987

Explanation: The Proceeds of Crime Act 2002 (POCA) is the primary UK AML statute, criminalizing laundering and creating the SAR regime reported to the UK FIU (UKFIU at NCA). The Money Laundering Regulations (MLR 2017, as amended) set the preventive obligations.

4Under the EU's 6th AML Directive (6AMLD), harmonized offenses include which of the following?

A.Only tax evasion

B.22 predicate offenses for money laundering including cybercrime and environmental crime

C.Only terrorist financing

D.Only corruption

Explanation: 6AMLD harmonized 22 predicate offenses for money laundering across EU member states, including cybercrime and environmental crime, and introduced liability for legal persons. The EU's new AML package (AMLD6 + AMLR + AMLA establishment) further harmonizes and creates the AML Authority (AMLA) in Frankfurt.

5The three classic stages of money laundering are:

A.Placement, Layering, Integration

B.Deposit, Conversion, Withdrawal

C.Origination, Consolidation, Distribution

D.Investment, Segregation, Reinvestment

Explanation: Placement (introducing funds into the financial system), layering (obscuring the audit trail), and integration (reintroducing funds into the legitimate economy) are the classic FATF-recognized stages. In practice, modern laundering often blurs these stages, especially in cyber-enabled cases.

6A key characteristic that distinguishes terrorist financing from money laundering is:

A.TF always uses hawala

B.TF funds may originate from legal sources and the focus is on hiding the destination/use, not origin

C.TF only occurs outside the U.S.

D.TF never involves cash

Explanation: Money laundering conceals illicit origin. Terrorist financing may involve legitimately sourced funds (e.g., charity donations, small business revenue) and concealment of the recipient/use. Both typologies overlap, and FATF treats them together in AML/CFT.

7Trade-based money laundering (TBML) commonly uses which technique?

A.Over- or under-invoicing of goods and multiple invoicing

B.Standardized letters of credit without modification

C.Only cash deposits

D.Only cryptocurrency

Explanation: TBML exploits the international trade system to move value — over/under-invoicing, multiple invoicing, phantom shipments, and misdescription of goods. FATF and Wolfsberg have published TBML red-flag guidance; trade finance operations must validate documentary credits and screen for red flags.

8Hawala is best described as:

A.A traditional informal value transfer system widely used in South Asia, the Middle East, and parts of Africa

B.A cryptocurrency protocol

C.A U.S. bank compliance certification

D.A FATF member state

Explanation: Hawala is an informal value transfer system based on trust and settlement between hawaladars. It is legal in many jurisdictions when registered; in the U.S., hawaladars must register as MSBs under FinCEN rules. Unregistered hawala is a common ML/TF vector.

9Under the U.S. Foreign Corrupt Practices Act (FCPA), which provision prohibits payments to foreign officials to obtain or retain business?

A.Anti-bribery provisions

B.Books-and-records provisions

C.Internal accounting controls provisions

D.Whistleblower provisions

Explanation: The FCPA has two key substantive provisions: (1) anti-bribery — prohibiting corrupt payments to foreign officials to obtain/retain business; and (2) books-and-records and internal accounting controls — applicable to issuers. Enforcement is by DOJ and SEC.

10The UK Bribery Act 2010 differs from the FCPA in which key way?

A.Applies only to UK citizens

B.Prohibits commercial (private-to-private) bribery and creates a 'failure to prevent bribery' corporate offense

C.Has no extraterritorial reach

D.Allows facilitation payments without limit

Explanation: The UK Bribery Act covers commercial bribery (not just foreign officials) and creates the Section 7 'failure to prevent bribery' offense for organizations lacking adequate procedures. Unlike the FCPA, it does not contain a facilitation payments exception.

About the CFCS Exam

The ACFCS Certified Financial Crime Specialist (CFCS) credential validates broad financial crime expertise across AML/CFT, fraud, sanctions, corruption, cybercrime, and investigations. It is designed for professionals who work across financial crime disciplines — compliance, investigations, audit, law enforcement, and regulation — and emphasizes scenario-based application of concepts.

Questions

135 scored questions

Time Limit

4 hours

Passing Score

88/135 (~65%)

Exam Fee

$1,295 member / $1,495 non-member (ACFCS / Kryterion Online Proctoring)

CFCS Exam Content Outline

~25%

Financial Crime Typologies

Money laundering stages, terrorist financing, fraud (ACFE Fraud Tree — asset misappropriation, corruption, financial statement), cybercrime (ransomware, BEC, ATO, SIM swap), tax evasion, human/arms trafficking finance, trade-based ML, hawala, smurfing, pig-butchering, real estate ML, NFT/DeFi/stablecoin risks

~20%

Global Regulatory Frameworks

FATF 40 Recommendations, MERs and grey/black lists, US BSA + USA PATRIOT + AMLA + CTA, UK POCA + MLR, EU 4AMLD/5AMLD/6AMLD + AMLR + MiCA, APAC (MAS, HK AMLO, India PMLA), OECD Anti-Bribery Convention, UNCAC, Wolfsberg, Egmont, Basel BCBS guidance

~20%

Sanctions & Bribery/Corruption

OFAC SDN, SSI, 50% rule, secondary sanctions, general/specific licenses, blocking vs rejecting, UK OFSI, EU restrictive measures, UN sanctions, FCPA anti-bribery and books-and-records provisions, UK Bribery Act 2010, Chinese anti-bribery law, proliferation financing

~20%

Compliance Program & Investigations

Three lines of defense, enterprise-wide risk assessment, risk appetite statement, CDD/EDD, PEPs, beneficial ownership, SAR/STR filing, tipping off, correspondent banking (CBDDQ), look-back reviews, derisking, case lifecycle, interview fundamentals, digital forensics basics, chain of custody, report writing

~15%

Technology, AI/ML & Emerging Risks

Transaction monitoring (Actimize, SAS, Oracle Mantas, Verafin), screening (Dow Jones, WorldCompliance, World-Check), AI/ML applications, entity resolution (Quantexa, Senzing), blockchain analytics (Chainalysis, TRM, Elliptic), Travel Rule for VASPs, SR 11-7 model governance, MiCA, stablecoins, NFTs, DeFi, sanctions evasion via transshipment

How to Pass the CFCS Exam

What You Need to Know

Passing score: 88/135 (~65%)
Exam length: 135 questions
Time limit: 4 hours
Exam fee: $1,295 member / $1,495 non-member

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CFCS Study Tips from Top Performers

1Cover all six pillars: AML, fraud (ACFE Fraud Tree), sanctions (OFAC + UK + EU + UN), bribery/corruption (FCPA, UKBA, UNCAC), cybercrime, and tax evasion

2Understand global frameworks — not just US: FATF 40, UK POCA/MLR, EU 4/5/6 AMLD + AMLR + MiCA, HK AMLO, Singapore MAS, India PMLA

3Know OFAC fundamentals: SDN, SSI, 50% rule, secondary sanctions, general vs specific licenses, blocking vs rejecting

4Study FCPA anti-bribery provisions and books-and-records/internal accounting controls provisions; compare with UK Bribery Act 2010 Section 7 corporate offense

5Be ready for scenario-based questions on emerging risks: stablecoins, DeFi, NFTs, ransomware, pig-butchering

6Practice digital investigation fundamentals: chain of custody, hash values, PEACE model interviewing

7Budget your exam time: 4 hours / 135 questions = ~107 seconds per question; flag and move on quickly

Frequently Asked Questions

What is the CFCS exam?

The ACFCS Certified Financial Crime Specialist (CFCS) is a broad-spectrum financial crime certification covering AML, fraud, sanctions, corruption, cybercrime, and investigations. It is recognized by regulators, financial institutions, and law enforcement globally. The exam emphasizes applied, scenario-based judgment across multiple financial crime domains.

How many questions are on the CFCS exam?

The CFCS exam has 135 scenario-based multiple-choice questions over 4 hours. The passing threshold is approximately 88 of 135 (~65%), administered online by Kryterion's Online Proctoring Network. Results are typically available at the conclusion of the exam.

How much does the CFCS exam cost in 2026?

The CFCS exam fee is approximately $1,295 for ACFCS members and $1,495 for non-members. Optional study packages and prep courses may add $300-$600. ACFCS offers bundled options on its website.

How should I prepare for the CFCS exam?

Plan for 80-140 hours of study over 2-4 months. Work through the ACFCS CFCS Certification Handbook and official study kit, emphasizing scenario-based application across AML, fraud, sanctions, FCPA, and investigations. Complete 100+ practice questions and aim for 75-80% on timed mocks before your exam date. Schedule in a quiet environment with stable internet for Kryterion.

How long is CFCS certification valid?

CFCS certification is valid for 2 years. Recertification requires continuing professional education (CPE) credits per ACFCS policy and payment of recertification fees. ACFCS publishes the CFCS Certification and Recertification Handbook for details.

Is the CFCS harder than the CAMS?

The CFCS covers a broader range of topics than CAMS — fraud, cybercrime, sanctions, corruption, and tax in addition to AML. Candidates with AML-only backgrounds often find CFCS more challenging. Candidates with broad investigations or enforcement backgrounds may find the breadth matches their experience. Both are respected credentials.