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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: 772 Q&A's Shared By: mimi
Question 104

Which of the followingactivities are considered money laundering red flagswhen reviewingbusiness operationsof amoney services business (MSB)? (Select Two.)

Options:

A.

A customer exchangingforeign currency from a higher-risk jurisdictionfor domestic currency under the reporting threshold.

B.

Cash-intensive businesses, such as convenience stores or restaurants, makinglarge cash deposits.

C.

A customercompleting frequent small-dollar international money transfersto their native country.

D.

A customer beinghesitant to provide beneficiary name or address informationwhen sending international wire transfers.

E.

A customerusing multiple accounts under different namesto conduct transactions.

Discussion
Question 105

Which activities could be considered a potential spear phishing scam? (Select Three.)

Options:

A.

An employee receives a phone call requesting that money be sent to assist someone in trouble.

B.

A courier delivers a duplicate invoice to a business that contains updated payment details of an existing supplier.

C.

Payroll receives an external email from an employee looking to update their bank account information.

D.

A business sends its employees an email warning that email passwords must be changed to prevent cyber-fraud.

E.

An employee receives an email that asks to download an attachment, but the attachment is a malware.

F.

Members of a religious organization receive a donation request by email claiming to be from their leader.

Discussion
Question 106

The product department of an insurance company proposes launching aspecial life insurance productwith investment elements that allow clients toinstruct payments to unknown third partiesvia partner financial institutions. The product department seeksfast-track approvalfrom compliance to ensure quick market launch.

What is the best course of action from a compliance perspective?

Options:

A.

Do not sign off on the product because it contains the option to make payments to unknown third parties, which carries a high money laundering risk.

B.

Sign off on the product because client KYC is complete, and unknown individuals can be added or removed throughout the duration of the contract.

C.

Do not sign off on the product because the compliance department was not involved from the beginning of the product development process, which is a severe governance violation.

D.

Sign off on the product quickly to gain a competitive advantage while evaluation by compliance can be completed later.

Discussion
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Question 107

A typical red flag regarding potential money laundering in connection with an art purchase occurs when a customer:

Options:

A.

buys a painting as an anonymous bidder and provides the source of wealth.

B.

asks to pay in installments and pays from two differently named accounts.

C.

asks to pay a large amount in cash without a comprehensible reason.

D.

pays more at an auction for a painting than the estimated maximum price.

Discussion
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