CISI Combating Financial Crime (CFC) Syllabus Breakdown & Guide 2026

Table of Contents

• • The CISI Combating Financial Crime Syllabus
• - 1. The Background and Nature of Financial Crime (7 Questions)
• - 2. Money Laundering (8 Questions)
• - 3. Terrorist Financing (3 Questions)
• - 4. Bribery and Corruption (8 Questions)
• - 5. Fraud and Market Abuse (4 Questions)
• - 6. Tax Evasion (4 Questions)
• - 7. Economic Sanctions (3 Questions)
• - 8. Financial Crime Risk Management (13 Questions)
• • Study Strategy: How to Pass the CFC Exam
• - 1. Master the Vocabulary
• - 2. Focus on the UK Bribery Act
• - 3. Practice Scenario-Based Questions

Financial crime is an ever-evolving threat to global stability, costing the world economy trillions of dollars annually. In response to increasing regulatory pressure—especially from bodies like the Financial Action Task Force (FATF)—financial institutions are significantly ramping up their compliance and anti-money laundering (AML) teams.

Earning the CISI Combating Financial Crime (CFC) qualification is one of the most effective ways to demonstrate your expertise in identifying and mitigating these risks. This guide breaks down the core syllabus and provides an interactive mock exam preview to help you prepare.

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The CISI Combating Financial Crime Syllabus

The CFC syllabus provides a robust, global view of the mechanisms of financial crime and the regulatory frameworks designed to stop it. Unlike localized exams, this qualification focuses on international standards. The current official CISI CFC syllabus allocates the 50 assessed questions across eight elements:

Syllabus element	Approximate questions
The Background and Nature of Financial Crime	7
Money Laundering	8
Terrorist Financing	3
Bribery and Corruption	8
Fraud and Market Abuse	4
Tax Evasion	4
Economic Sanctions	3
Financial Crime Risk Management	13

The allocation can vary slightly between papers. Financial Crime Risk Management is the largest element, accounting for approximately 13 of the 50 questions.

1. The Background and Nature of Financial Crime (7 Questions)

This foundational module explains what financial crime is and the severe economic and social consequences it carries.

• Key Concepts: Distinctions between fraud, market abuse, and money laundering.
• International Approach: The roles of bodies such as FATF, the Egmont Group, and the Wolfsberg Group in setting standards and sharing intelligence.
• Why it matters: Understanding the reputational and regulatory damage firms face when controls fail.

2. Money Laundering (8 Questions)

A major element focusing on the core mechanics of cleaning illicit funds and international AML standards.

• The Three Stages: Placement, Layering, and Integration.
• Vulnerabilities: Which products and services (e.g., shell companies, crypto assets, correspondent banking) are most vulnerable.

3. Terrorist Financing (3 Questions)

While similar to money laundering, terrorist financing often involves clean money moving to illicit actors.

• Differences: Source of funds vs. use of funds.
• Red Flags: Identifying abnormal transaction patterns that suggest terrorist financing.

4. Bribery and Corruption (8 Questions)

A deep dive into international anti-bribery frameworks, heavily featuring the UK Bribery Act 2010.

• Core Offenses: Bribing another person, receiving a bribe, bribing a foreign public official.
• Corporate Liability: The “failure of commercial organizations to prevent bribery” offense and the “adequate procedures” defense.

5. Fraud and Market Abuse (4 Questions)

Understanding how individuals and firms manipulate financial markets for unfair gain.

• Market Abuse: Insider dealing, improper disclosure, and market manipulation.
• Identity Fraud: Phishing, synthetic identity theft, and corporate fraud.

6. Tax Evasion (4 Questions)

Understand the distinction between tax avoidance and tax evasion, common tax-evasion methods, international transparency initiatives, and the corporate offences connected with failing to prevent the facilitation of tax evasion.

7. Economic Sanctions (3 Questions)

Cover the purpose and forms of economic sanctions, the roles of major sanctions authorities, asset freezes and other restrictions, and the practical importance of sanctions screening and escalation.

8. Financial Crime Risk Management (13 Questions)

This is the largest element. Focus on the risk-based approach, the financial-crime risks firms face, practical business safeguards, governance and staff responsibilities, CDD and EDD, transaction monitoring, suspicious activity reporting, record keeping, and the role of the MLRO or equivalent officer.

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Study Strategy: How to Pass the CFC Exam

1. Master the Vocabulary

Financial crime has a very specific lexicon. Ensure you understand the exact definitions of terms like Placement, Layering, Integration, Predicate Offense, and Beneficial Owner. The exam will test your ability to differentiate between these closely related concepts.

2. Focus on the UK Bribery Act

Separate the four Bribery Act offences: offering a bribe, receiving a bribe, bribing a foreign public official and a commercial organisation failing to prevent bribery by an associated person. “Adequate procedures” is the statutory defence to that corporate failure-to-prevent offence; it is not a defence for an individual who offered or accepted a bribe.

3. Practice Scenario-Based Questions

The exam does not just ask for definitions; it presents short scenarios and asks you to identify the specific stage of money laundering occurring, or whether a specific red flag indicates terrorist financing versus fraud. Utilizing a mock exam simulator that provides realistic scenario questions is critical to passing on your first attempt.