CAFCA Exam Study Guide (2026)
Everything the CAFCA Certification Exam (Certified AML FinTech Compliance Associate) tests, topic by topic: what each section covers, the facts that come up most, and how to study it. Pair it with the free 15-question practice test.
The exam at a glance
| Questions | 60 multiple-choice questions (some unscored) |
|---|---|
| Time | 90 minutes |
| Passing score | 70% of scored questions |
| Format | Closed book, computer-based |
| Certifying body | ACAMS (Association of Certified Anti-Money Laundering Specialists) |
| Test provider | Pearson VUE (test center or online proctored) |
Mind map: the whole exam on one screen
1. FinTech Regulation and Governance
FinTechs carry the same AML duties as banks for the services they provide. This topic covers licensing, governance and the bank-FinTech partnership model.
Key facts
- Regulators apply 'same activity, same risk, same rules': AML duties follow the service, not the technology.
- In the US, money transmitters register with FinCEN as MSBs (Form 107, renewed every 2 years) and usually need state money transmitter licenses.
- In the EU and UK, payment institutions and e-money institutions are authorized and supervised for AML.
- In Banking-as-a-Service, the sponsor bank remains responsible for AML compliance even if the FinTech runs some controls.
- Partnership agreements should set roles for KYC, monitoring, SAR filing, data access and audit rights.
- The board and senior management are accountable for the AML program; a qualified compliance officer runs it.
- Regulatory sandboxes allow supervised testing but don't suspend AML obligations.
Flashcards
Exam tip: If a question suggests a FinTech is exempt because it's 'just technology', look for the answer that applies the normal AML duties.
2. Financial Crime Risks in FinTech Products
This topic covers why digital financial services attract criminals and which products carry the most risk.
Key facts
- Speed, scale, remote onboarding and cross-border reach make FinTech services attractive to criminals.
- P2P payments and instant transfers are used by money mules to split and move stolen funds.
- Prepaid cards and e-money can move value with limited identification if limits are weak.
- Payment facilitators and processors can hide high-risk or illegal merchants among their sub-merchants.
- Neobank accounts are targets for mule account creation and synthetic identities.
- Crypto on-ramps and off-ramps link fiat payments with cryptoassets.
- Buy now, pay later and digital lending face identity fraud and first-party fraud.
Flashcards
Exam tip: The riskiest product in a list is usually the one that adds speed or anonymity without extra controls.
3. Digital Onboarding and Due Diligence
Know how FinTechs identify customers remotely, the fraud they face at onboarding and how to apply risk-based due diligence across customer types.
Key facts
- Digital identity verification combines document checks, biometric matching and liveness detection.
- Liveness detection defends against photos, masks, replayed video and deepfakes.
- Device fingerprinting and IP data link applications that use different identities.
- Allowing transactions before verification is complete creates risk and must be tightly limited.
- Business customers need beneficial ownership checks and an understanding of the business model.
- Higher-risk customers (such as PEPs, MSBs or businesses in high-risk sectors) need enhanced due diligence.
- Risk ratings and limits should update as customers use more products or activity grows.
Flashcards
Exam tip: Many accounts from one device or IP address is a classic exam red flag for fraud rings and mule herding.
Test yourself on these topics
Take the free 15-question CAFCA test, then save your results to unlock your Readiness Score and the mistakes bank.
4. Payment Screening and Transaction Monitoring
About a quarter of the CAFCA exam. This topic covers sanctions screening of payments, monitoring rules and models, and handling alerts at FinTech speed.
Key facts
- Payments must be screened against sanctions lists before release, which is harder with instant payments.
- Monitoring signals include velocity, amounts, counterparties, geography and changes from normal behavior.
Flashcards
Exam tip: Speed is the theme. The best answers balance fast customer experience with controls that run before money leaves.
5. Investigating and Reporting Suspicious Activity
This topic covers investigating alerts, filing suspicious activity reports, cooperating with partner banks and law enforcement, and confidentiality.
Key facts
- Investigations look at the customer's profile, history, linked accounts and devices, and external information.
- In the US, MSBs file SARs on suspicious activity of $2,000 or more; banks generally at $5,000 with a suspect.
Flashcards
Exam tip: When a question involves a partner bank, look for the answer that keeps both parties informed within confidentiality rules.
How to pass
- Think 'same activity, same risk, same rules'. FinTechs face the same AML duties as banks for the services they provide.
- Know the bank-FinTech partnership (Banking-as-a-Service) model and who is responsible for what.
- Digital onboarding questions focus on identity fraud: document checks, liveness detection, device data and deepfakes.
- 70% of scored questions passes: the lowest pass mark of the associate exams, but don't rely on it.
Frequently asked questions
How long should I study for the CAFCA exam?
Most working candidates need 4 to 8 weeks at 45 to 60 minutes a day. Book your exam once your Readiness Score has stayed at 80 or higher for about a week.
Can I take the CAFCA exam online?
Yes. ACAMS exams are delivered by Pearson VUE at test centers or online with a remote proctor. Format: closed book, computer-based. Check the current Candidate Handbook from ACAMS for the rules.
What score do I need to pass the CAFCA exam?
70% of scored questions. The exam has 60 multiple-choice questions (some unscored) and a time limit of 90 minutes.
What are the most tested topics?
The outline covers fintech regulation and governance, financial crime risks in fintech products, digital onboarding and due diligence, payment screening and transaction monitoring, investigating and reporting suspicious activity. Use the free practice test to see which ones you need most.
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- All 10 ACAMS exams, from CKYCA to CAMS and the advanced certifications
- Full question banks + timed simulations
- Study notes, flashcards & mind maps
- Spaced repetition + mistakes bank
- Readiness Score & detailed reports
- Video lessons as they release
- New exams added during your access
- 5 bonuses: red flags cheat sheet, key numbers sheet, study planner and more
- Pass Guarantee: complete the prep, pass or 100% back
Renews once a year until you cancel. We email you before each renewal. Cancel any time from your account; you keep access until the end of the year you've paid for.
Summarized from ACAMS' official candidate information and the standards and regulations cited, checked October 2026. Confirm current requirements with ACAMS (Association of Certified Anti-Money Laundering Specialists).