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ACAMS Updated CAMS Exam Questions and Answers by renzo

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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: renzo
Question 52

Which is a FATF characteristic used to assess a country's effectiveness of its AML regime?

Options:

A.

Funds supporting and proceeding from crime or terrorism are prevented from entering the financial sector.

B.

Legal persons are prevented from misuse for money laundering or terrorist financing.

C.

Supervisors appropriately supervise, monitor, and regulate financial institutions (Fls).

D.

FIs adequately apply preventive measures.

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Question 53

According to recommendations from the Financial Action Task Force, what role does a country's financial intelligence unit play in safeguarding against money laundering?

Options:

A.

Monitors monthly public statistics on the economy

B.

Generates currency transaction reports to send to the central bank

C.

Assists the pursuit of criminal activity by producing suspicious activity reports

D.

Analyzes data on suspicious activity reports

Discussion
Question 54

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

Options:

A.

US sanctions

B.

Loss of tax revenue

C.

Increased organized crime and corruption

D.

Reputation risk for the port

Discussion
Question 55

A foreign bank's compliance officer receives a request for information from a US bank, alerting the foreign bank to the possibility that it may have transferred funds on behalf of an Office of Foreign Assets Control (OFAC>-sanctioned person, who holds an account with the foreign bank. Which statements are true with respect to said funds and the information in relation to the transaction under scrutiny? (Select Two.)

Options:

A.

If the funds are seized, then the foreign bank would be within its rights to dispute such seizure.

B.

US authorities have no power (in terms of the USA PATRIOT Act) to sanction the foreign bank for transferring funds on behalf of an OFAC-sanctioned entity.

C.

The USA PATRIOT Act authorizes the Secretary of the Treasury or the Attorney General to subpoena records from the foreign bank that maintains a correspondent account with a US bank,

D.

If a US citizen were part of the foreign bank's Board deliberations where a decision was made to onboard the OFAC-sanctioned entity as a client, then they can be confronted with criminal charges.

E.

US authorities are only permitted to seize the funds transferred by the foreign bank under OFAC sanctions if there is an equivalent sanctions regime of the UN which has been contravened.

Discussion
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