ACAMS CAMS Dumps PDF Free Download - Page: 6

QUESTION: 41

An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.

How should the bank respond?

Block any further activity
File a suspicious transaction report
Initiate an investigation into the activity
Contact the customer if the transaction activity continues

Answer(s): C

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QUESTION: 42

A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.

What are two red flags that may indicate money laundering? (Choose two.)

The bank allows cash deposits
The client resides in a high-risk jurisdiction
Wire transfers are to high-risk jurisdiction
Large cash deposits are from a high-risk jurisdiction

Answer(s): C,D

Reference:

https://aml-cft.net/library/banks-amlcft-red-flags/

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QUESTION: 43

A retail bank has just acquired a credit card business. The bank’s anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.

Is the bank’s existing anti-money laundering training adequate to be delivered to employees of the newly acquired credit card business?

Yes, the existing training covers the bank’s policies, procedures, and processes.
No, anti-money laundering training needs to be delivered face-to-face for credit card businesses.
No, anti-money laundering training needs to be tailored and focused on the risks specific to the business.
Yes, the existing training covers the anti-money laundering regulations that the bank is required to follow.

Answer(s): D

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QUESTION: 44

Which method do terrorist financiers use to move funds without leaving an audit trail?

Extortion
Cash couriers
Casa de cambio
Virtual currency

Answer(s): B

Reference:

https://www.fatf-gafi.org/media/fatf/documents/reports/FATF%20Terrorist%20Financing%20Typologies%20Report.pdf (24)

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QUESTION: 45

Why do governments and multi-national bodies impose economic sanctions?

To impede kleptocracy
To enforce foreign policy objectives
To combat an imminent terrorist threat
To prevent fraudulent international trade transactions

Answer(s): B

Reference:

https://en.wikipedia.org/wiki/Economic_sanctions

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QUESTION: 46

In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.

How should the institution respond?

File a suspicious transaction report
Instruct the tellers not to process remittances for these customers in the future
Conduct further investigation to determine whether this is truly suspicious activity
Immediately contact the customers and ask them why they are remitting money more often

Answer(s): C

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QUESTION: 47

In the summer, an institution identifies anti-money laundering concerns regarding a customer’s account activity. The customer, an ice cream parlor, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.

Which two transaction types warrant investigation? (Choose two.)

Regular cash deposits
The wires to foreign countries
Repeated checks to the same payees
Checks drawn on banks in foreign countries

Answer(s): B,D

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QUESTION: 48

Which three methods are commonly used by an accountant to launder money? (Choose three.)

Representing a client in court
Understating income to take a tax loss
Overstating income to hide excess cash
Acting as a conduit for transferring cash between accounts
Acting as a designee for someone who wishes to hide their identity

Answer(s): C,D,E

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ACAMS Certified Anti-Money Laundering Specialist (the 7th edition) CAMS Dumps in PDF

Free ACAMS CAMS Real Questions (page: 6)

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