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ACAMS Updated CAMS Exam Questions and Answers by mimi

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ACAMS CAMS Exam Overview :

Exam Name: Certified Anti-Money Laundering Specialist (the 6th edition)
Exam Code: CAMS Dumps
Vendor: ACAMS Certification: AML Certification
Questions: 763 Q&A's Shared By: mimi
Question 104

Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

Options:

A.

Gather a list of their politically exposed customers

B.

Identify natural persons who own or control more than 5%

C.

Obtain senior management approval before establishing the relationship

D.

Obtain a third party independent review of the respondent’s anti-money laundering program

Discussion
Question 105

A compliance officer is conducting a review of the automated transaction monitoring system. What would be most likely to result in a change in the monitoring system parameters?

Options:

A.

The local paper runs stories that sully the institution’s reputation in the marketplace

B.

Law enforcement issues a subpoena for a particular customer’s account records

C.

The national Financial intelligence Unit issues new risk indicators

D.

The institution’s creditworthiness thresholds change

Discussion
Question 106

Since its last regulatory examination, a financial institution has aggressively grown by adding profitable new products and services. The institution has not historically received regulatory criticism regarding its anti-money laundering compliance program. However, a recent regulatory examination cited significant deficiencies in the anti-money laundering program that were attributed primarily to the lack of oversight by the institution’s leadership in implementing adequate controls over the new products and services.

Which area of international control should leadership first address to correct the weaknesses in the program?

Options:

A.

Anti-money laundering training

B.

Anti-money laundering policy

C.

Money laundering risk assessment

D.

Anti-money laundering compliance staff

Discussion
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Question 107

A bank sells reloadable open-loop prepaid cards to both customers and non-customers.

What is a red flag associated with these cards that may indicate money laundering?

Options:

A.

A bank customer historically purchases several prepaid cards near year-end.

B.

A non-bank customer regularly loads large amounts of cash onto several prepaid cards.

C.

A non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.

D.

A bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.

Discussion
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