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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: 772 Q&A's Shared By: marcel
Question 8

In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial should________?

Options:

A.

Request formal company authorization to conduct the investigation. Such authorization should be granted, if possible, by the board of directors or audit committee

B.

Refuse to provide any records or documents to law enforcement because the bank has client privilege with its bank customers

C.

Let the bank hire any and all contract investigators to conduct the internal investigation. That way Legal is not a party to the action and may remain independent

D.

Not mark files or documents with privileged and Confidential: Attorney-Client Privilege and/or Work-Product. Those marks will only encourage law enforcement

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Question 9

A new accounts representative recently opened an account for individual whose stated employment is tutoring students.

Which customer action indicates possible money laundering?

Options:

A.

Continually making weekly small cash deposits

B.

Periodically initiating wire transfers to another account owned by a relative

C.

Transferring all funds to another bank on the same day of large cash deposits

D.

Opening a savings account and makes frequent transfers from the checking account

Discussion
Question 10

A startup virtual currency exchange has registered as a money services business and will commence operations in six months. The company will provide digital wallets to customers to hold their virtual currency after purchase. Customers will have the option to conduct purchases of the virtual currency and transfer the currency to and from the digital wallet. The startup must develop an anti-money laundering compliance program prior to launch.

Which two anti-money laundering responsibilities should be considered before business launch? (Choose two.)

Options:

A.

A customer onboarding process

B.

Transaction limits consistent with risk appetite

C.

Employees to handle complaints in a timely fashion

D.

Mechanisms to monitor and protect customers’ digital wallets from cyber-attacks

Discussion
Question 11

The ultimate goal of economic sanctions is to:

Options:

A.

protect the reputation of the country.

B.

prevent terrorists from profiting from trade.

C.

protect national security.

D.

reduce the profits of sanctioned countries.

Discussion
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