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ACAMS Updated CAMS Exam Questions and Answers by marcel

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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: marcel
Question 8

Which should authorities do to safeguard AML information exchanged with other countries?

Options:

A.

Protect exchanged information as they would protect similar information received from domestic sources.

B.

Require the use of non-disclosure agreements with anyone accessing the exchanged information.

C.

Use the court system to ensure confidentiality of exchanged information through court orders.

D.

Destroy the information once the investigation is complete.

Discussion
Question 9

Which elements can trigger a review of the existing relationship during the opening of a new account? (Select Two.)

Options:

A.

Regular checks on the flow of funds

B.

Recent adverse media on the client

C.

A false positive result for name screening

D.

Incoming transfers from high-risk jurisdictions

E.

Estimated total income decrease

Discussion
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Question 10

A SAR/STR should be filed when the accountable institution identifies that:

Options:

A.

a customer makes a cash deposit in round dollars.

B.

cash transactions have values which avoid reporting thresholds.

C.

an alert is generated by a transaction monitoring system.

D.

an employee is not clearing alerts in a timely manner.

Discussion
Question 11

A school teacher recently opened a private banking account with a major bank. The customer indicated annual income of EUR 45,000 and listed her source of wealth as a EUR 1.5 million inheritance from relatives. The customer plans to invest EUR 12,000 to 15,000 earned annually from bearer bonds. The relationship manager verified the client's identity and documented all of the above information in the account file before opening the account. During a routine review of the account, several electronic fund transfers in excess of EUR 5 million each were made from a diamond distributor. The relationship manager also noticed that in each instance, the customer immediately transferred the funds to bank accounts in Hong Kong. Which of the following is appropriate for the anti-money laundering specialist to recommend?

Options:

A.

Arrange a meeting between the customer and legal department.

B.

Contact the competent authority and local law enforcement.

C.

Suspend further customer transactions through the bank.

D.

Investigate the source and purpose of the transactions.

Discussion
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