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CAMS Test-king File & CAMS Practice Materials & CAMS Test Questions

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Achieving the ACAMS CAMS Certification is a significant accomplishment for AML professionals. Certified Anti-Money Laundering Specialists certification demonstrates a high level of expertise and a commitment to the AML field, which can open up new career opportunities and increase earning potential. Additionally, the certification provides a network of like-minded professionals and access to valuable resources and continuing education opportunities through ACAMS.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q474-Q479):

NEW QUESTION # 474
After a FATF mutual evaluation process, which are resulting actions for jurisdictions that are determined to have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing? (Choose two.)

A. Expect private statements from FATF regarding the level of compliance of the jurisdiction, when insufficient progress is made.
B. Report to FATF on the implementation of their progress under the enhanced follow-up mechanism.
C. Appeal to FATF for a technical compliance re-rating based on the jurisdiction's own experts criteria.
D. Request FATF for an extension of deadlines in order to provide local awareness on the improvements that are necessary to solve the deficiencies.
E. Demonstrate a high-level commitment to swiftly resolve the identified deficiencies in the FATF mutual evaluation report.

Answer: B,E

NEW QUESTION # 475
What are theroles of a government Financial Intelligence Unit (FIU)? (Select Three.)

A. Receive reports of suspicious transactions and suspicious activities from reporting institutions or obliged institutions.
B. Disseminate analysis of suspicious transaction and suspicious activity reports to foreign judicial systems to enhance their anti-money laundering and terrorist financing investigations and prosecutions.
C. Analyze all suspicious transaction and suspicious activity reports received from reporting institutions or obliged institutions.
D. Investigate and, where appropriate, prosecute all suspicious transaction and suspicious activity reports received from reporting institutions or obliged institutions.
E. Disseminate the analysis of suspicious transaction and suspicious activity reports to local law enforcement agencies and foreign FIUs to combat money laundering.

Answer: A,C,E

Explanation:
Financial Intelligence Units (FIUs)serve as national centers for collecting, analyzing, and disseminating AML
/CFT information.
* Option B (Correct):FIUs analyze SARs and STRs to detect money laundering and terrorist financing risks.
* Option D (Correct):FIUs disseminate financial intelligence to local and international law enforcement agencies and other FIUs.
* Option E (Correct):FIUs receive SARs/STRs from financial institutions, which form the basis for their analysis.
Why Other Options Are Incorrect:
* Option A (Incorrect):FIUs do not prosecute cases; they refer findings to law enforcement agencies.
* Option C (Incorrect):FIUs share intelligence, but prosecution is handled by judicial authorities, not FIUs.
Best Practices for FIUs:
* Enhance data-sharing agreements with domestic and international agencies.
* Use AI and analytics tools to detect suspicious financial patterns.
* Ensure secure handling of sensitive AML/CFT data.
Reference:
FATF Recommendation 29 (FIU Role & Responsibilities)
Egmont Group Guidelines on FIU Information Sharing
EU 6th AML Directive (6AMLD) on Financial Intelligence Functions

NEW QUESTION # 476
A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities. The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances. The volume of activity flowing through the business account has doubled in the past 3 months. An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity. This internal investigation did not provide an explanation for the increased activity1. Which of the following should the anti-money laundering specialist recommend to the internal investigator?

A. Review activity in all related customer accounts in the past year.
B. No additional steps are necessary because this was a thorough review of the activity.
C. Concentrate on trades made in the brokerage account.
D. Analyze account activity for selected accounts since the accounts were opened.

Answer: C

Explanation:
the internal investigation did not examine the brokerage account, which could be a potential source of money laundering. According to the CAMS Study Guide, 6th Edition, one of the common methods of money laundering is to use securities brokers to move funds through the purchase and sale of stocks, bonds, or other instruments1. The customer's frequent transfers from the business account to the brokerage account, and the increased volume of activity in the business account, could indicate that the customer is trying to disguise the origin or ownership of illicit funds by investing them in money market securities. Therefore, the anti-money laundering specialist should recommend the internal investigator to concentrate on the trades made in the brokerage account, and to look for any signs of market manipulation, insider trading, or unusual patterns of transactions1.
References:
1: CAMS Study Guide, 6th Edition, Chapter 2: Money Laundering Risks and Methods, page 55-56.

NEW QUESTION # 477
A compliance officer receives a report from the institution's monitoring system. One account was identified in multiple alerts for the amount of cash deposited and international wires sent.
Which two sources of information held within the institution will enable the compliance officer to determine whether the activity should be reported? (Choose two.)

A. The customer due diligence information on file
B. The monitoring system parameters for identifying unusual activity
C. Transaction records for the period during which the unusual activity occurred
D. The signature card for the account

Answer: A,C

NEW QUESTION # 478
Which operational situation might indicate that money laundering is occurring at or through a deposit-taking financial institution?

A. The institution has observed an increase in the adoption of its digital products and services.
B. The institution has observed a reduced settlement time in the transaction services that support the rapid movement or remittance of funds.
C. The institution has observed an increase in customer demand for large-denomination banknotes.
D. The institution maintains a sequentially numbered log of the monetary instruments it sells.

Answer: C

Explanation:
Money launderers prefer large-denomination bills because they facilitate bulk cash smuggling and placement.
Option A (Correct): Increased demand for large-denomination banknotes is a known money laundering red flag.
Option B (Incorrect): Increased digital service adoption is normal banking behavior.
Option C (Incorrect): Faster settlement times may reflect technology upgrades, not financial crime.
Option D (Incorrect): Maintaining a log of monetary instruments is a compliance best practice, not a red flag.

NEW QUESTION # 479
......

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