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High Pass-Rate Valid CAMS Test Papers - Pass CAMS Once - Fantastic Lab CAMS Questions

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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Certification Exam is a globally recognized certification exam that tests the knowledge and skills of professionals working in the anti-money laundering (AML) field. CAMS exam is designed to certify the proficiency of AML specialists, including compliance officers, financial investigators, and law enforcement professionals, in identifying and preventing money laundering and terrorist financing activities.

The CAMS Exam is designed to test the candidates' knowledge of AML laws, regulations, and best practices, including customer due diligence, suspicious activity reporting, sanctions screening, risk assessment, and compliance monitoring. CAMS exam consists of 120 multiple-choice questions, and candidates have four hours to complete it. The passing score for the exam is 75%.

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q602-Q607):

NEW QUESTION # 602
Financial institutions (FIs) perform AML risk assessments to ensure:

A. a record for regulators indicating an AML risk assessment was completed at least once.
B. internal audit assurance that all AML-related policy and procedures are board approved.
C. proper controls surrounding higher-risk products, services, customers, and geographic locations.
D. satisfaction of the board of directors' approved risk appetite.

Answer: C

Explanation:
Reference:
https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/faqs/17.%20Wolfsberg-Risk-Assessment-FAQ

NEW QUESTION # 603
What is a method of placement that can be used by a money launderer in a deposit taking institution?

A. Withdrawing large amounts of cash from the money launderer's account
B. Sending a large number of funds transfers between accounts
C. Depositing cashier's checks and money orders into the money launderer's account
D. Depositing cash into the money launderer's account

Answer: D

Explanation:
According to the ACAMS CAMS Study Guide, one of the most common methods of placement is to deposit cash into a bank account, either directly or through intermediaries. This allows the money launderer to introduce the illicit funds into the legitimate financial system, and to create a paper trail that can be used to justify the source of the funds. However, this method also exposes the money launderer to the risk of detection by the bank's anti-money laundering (AML) policies and procedures, such as customer identification, transaction monitoring, and reporting of suspicious activities1.
ACAMS CAMS Study Guide, 6th Edition, page 271
Reference: https://www.investopedia.com/terms/m/moneylaundering.asp

NEW QUESTION # 604
What does the Financial Action Task Force 40 Recommendations address on transparency of beneficial ownership?

A. Legal persons and arrangements
B. Gatekeepers
C. Payable through accounts
D. Correspondent banking

Answer: A

Explanation:
The Financial Action Task Force (FATF) 40 Recommendations address the transparency and beneficial ownership of legal persons (such as companies, foundations, associations, etc.) and legal arrangements (such as trusts, fiducies, anstalts, etc.) in Recommendations 24 and 25. These recommendations aim to prevent the misuse of legal persons and arrangements for money laundering, terrorist financing and other illicit purposes, by requiring countries to ensure that accurate and up-to-date information on the natural persons who ultimately own or control them (the beneficial owners) is available to the competent authorities in a timely manner.
Reference:
CAMS Study Guide - 6th Edition, Chapter 4, page 112
CAMS Certification Exam Outline, Domain 1, Task 1.2, Skill 1.2.2
Guidance on Transparency and Beneficial Ownership, FATF, October 2014
Recommendation 24: Transparency and beneficial ownership of legal persons, FATF
[Recommendation 25: Transparency and beneficial ownership of legal arrangements], FATF

NEW QUESTION # 605
A law enforcement agency is reviewing a suspicious transaction report (STR) filed by a financial institution for suspicious activity on a client's account.
Subsequently, the agency requests further information.
Which supporting documentation might the law enforcement agency request from the institution to facilitate its investigation?

A. Previously filed STRs on the same customer
B. A copy of the institution's STR policy and procedures
C. Account opening documents and account statements
D. Copies of promotional materials sent to the customer

Answer: C

NEW QUESTION # 606
A wealthy individual is using a complex corporate structure to facilitate illegal logging and then illegal mining of the resulting resources from that land.
Which category of predicate crime is taking place?

A. Trade-based money laundering
B. Environmental crime
C. Illicit resource trade
D. Corruption

Answer: B

Explanation:
The CAMS 6th Edition specifically lists environmental crime as a predicate offense for money laundering.
Environmental crimes include activities such as illegal logging, illegal mining, and illegal trade in wildlife.
"Environmental crime, including illegal logging and mining, is recognized as a predicate offense to money laundering. Such crimes often involve complex corporate structures to hide the illicit origin of the proceeds." (CAMS 6th Edition, Chapter: Risks and Methods of Money Laundering and Terrorist Financing; FATF Recommendations, Predicate Offenses) Incorrect Options:
* A: Trade-based ML refers to manipulating trade transactions, not the underlying crime.
* B: Corruption may be involved, but the primary crime is environmental.
* C: Illicit resource trade describes the act, but the official predicate crime category is environmental crime.
References:
CAMS Study Guide 6th Edition, Predicate Crimes for Money Laundering
FATF Recommendation 3: Money laundering offense and predicate offenses

NEW QUESTION # 607
......

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