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CySEC AML exam study notes

Free, topic-by-topic notes for chapters 2 to 8 of the CySEC AML Compliance Officer exam. The same notes cover Chapter 7 of the Advanced exam and Chapter 8 of the Basic exam.

7 subjects · 48 notesLast reviewed By the ExamPass CY editorial team

Notes by chapter

  1. Chapter 2

    Money Laundering, Terrorist Financing & Sanctions

    The three stages of laundering, where Cyprus is most exposed, how terrorist financing differs, and what firms must do about sanctions.

    AlsoAdvanced · Ch 7Basic · Ch 87 topics · about 37 min
  2. Chapter 3

    AML Legal and Regulatory Framework

    MOKAS, the AML supervisors and their fines, the laundering, reporting and tipping-off offences, the EU, FATF and MONEYVAL, and the terrorism and sanctions laws.

    AlsoAdvanced · Ch 7Basic · Ch 87 topics · about 38 min
  3. Chapter 4

    AML Compliance Culture & Governance

    Compliance culture, the Board's duties, the AML compliance officer and their reports, internal audit, and staff obligations and training.

    AlsoAdvanced · Ch 7Basic · Ch 85 topics · about 29 min
  4. Chapter 5

    AML Risk Assessment

    The risk-based approach, the four groups of risk factors, how risks are rated and weighted, and how assessments and records are kept.

    AlsoAdvanced · Ch 7Basic · Ch 86 topics · about 35 min
  5. Chapter 6

    KYC & Customer Due Diligence

    Who must be checked and when, how thoroughly, and what changes for higher- and lower-risk customers.

    AlsoAdvanced · Ch 7Basic · Ch 814 topics · about 69 min
  6. Chapter 7

    Transaction Monitoring & Suspicious Reporting

    What makes a transaction suspicious, the red flags to watch for, how reports reach MOKAS, and how reporters are protected.

    AlsoAdvanced · Ch 7Basic · Ch 84 topics · about 23 min
  7. Chapter 8

    Crypto-Asset Service Providers

    CySEC's CASP register, applications, suspension and organisational rules, CASPs' AML/CFT duties and the travel rule, and the move to MiCA.

    5 topics · about 26 min

Short on time? Start with these four

Four notes that carry many of the thresholds, time limits and reporting duties tested in the AML exam.

When is customer due diligence (CDD) required?Always for a new business relationship; for one-off transactions it depends on the amount and the type of business.5 min readWhen is enhanced due diligence required?Extra measures for politically exposed persons, high-risk countries and other higher-risk cases.7 min readHow are suspicious transactions reported internally and to MOKAS?The Internal Suspicion Report, the Internal Evaluation Report and filing through goAML.5 min readHow do financial sanctions work for firms in Cyprus?List-based freezes, the new National Sanctions Implementation Unit and the 2025 penalties.6 min read

How these notes are written

The ExamPass CY editorial team writes every note in its own words from Cyprus law, CySEC directives, EU legislation and official guidance. Each note shows the date it was last reviewed and the legal provisions it relies on. We do not publish exam questions or their answers here. ExamPass CY is not affiliated with CySEC.

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