CAMS Reliable Test Questions, CAMS Valid Exam Discount

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The CAMS Certification is an essential credential for professionals working in the AML industry. It provides individuals with the knowledge and skills they need to effectively combat money laundering and terrorist financing. Additionally, the certification is recognized worldwide and is highly valued by employers in the financial services industry.

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Overall obtaining Certified Anti-Money Laundering Specialists (CAMS) certificate can be a valuable investment in your professional career. As it can help you to stand out in a competitive market, more career opportunities, and advancement of your career. To gain all these advantages you just need to enroll in the ACAMS CAMS Certification Exam and put all your efforts to pass this challenging CAMS exam with flying colors.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q187-Q192):

NEW QUESTION # 187
A new accounts representative recently opened an account for individual whose stated employment is tutoring students.
Which customer action indicates possible money laundering?

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

Answer: C

Explanation:
This customer action indicates possible money laundering because it could be a sign of layering, which is the second stage of the money laundering process. Layering involves moving the illicit funds around to create distance and confusion between the source and the destination of the money. Transferring all funds to another bank on the same day of large cash deposits could be an attempt to avoid detection by the bank's transaction monitoring system or by the authorities. It could also be a way to break the audit trail and obscure the origin of the funds.
The other customer actions are not necessarily indicative of money laundering, although they could raise some red flags depending on the context and the customer profile. Continually making weekly small cash deposits could be a sign of structuring, which is a technique to avoid reporting requirements by depositing amounts below the threshold. However, this could also be a legitimate behavior for a tutor who receives cash payments from students. Periodically initiating wire transfers to another account owned by a relative could be a sign of funneling, which is a technique to move funds between accounts that are not related to the business or personal activities of the customer. However, this could also be a legitimate behavior for a tutor who supports their family members financially. Opening a savings account and making frequent transfers from the checking account could be a sign of commingling, which is a technique to mix illicit funds with legitimate funds from a legal source. However, this could also be a legitimate behavior for a tutor who wants to save money for future expenses.
Reference:
CAMS Certification Package - 6th Edition | ACAMS, Chapter 2: Money Laundering Risks and Methods, pp. 35-40 CAMS Certifications: How to Get CAMS Certified | ACAMS, CAMS Study Guide, pp. 28-32 ACAMS CAMS Certification Video Training Course - Exam-Labs, Module 2: Money Laundering Risks and Methods, Video 2.2: The Three Stages of Money Laundering Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition), Question 311, Answer C

NEW QUESTION # 188
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?

A. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
B. They require participating financial institutions of their members to file suspicious transaction reports to the regional body
C. They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report
D. They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports

Answer: B

NEW QUESTION # 189
Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

A. Access to documents and assistance with meetings
B. Dependent with different experiences to strengthen the overall effort
C. Membership, mission, financial procedures, and budget
D. Reciprocity for effective participation and recognition of work

Answer: D

NEW QUESTION # 190
A large financial institution (Fl) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the Fl's risk appetite beyond the stated acceptable amount. Which risk factors should be used to identify the priority of the Fl?

A. Unknown third-party risks
B. Cash-intensive businesses risks
C. Anonymous transactions risks
D. Geographic risks

Answer: D

Explanation:
Explanation
Geographic risks should be used to identify the priority of the Fl in this scenario. According to the CAMS Manual (6th Edition), "Geographic risk refers to the possibility that the location of a customer, transaction, or product may increase the likelihood of money laundering or terrorist financing because of weak or nonexistent AML/CFT controls" (p. 59). In this scenario, the expansion to an area of the world with weak AML laws would increase the Fl's geographic risk.
Reference: Certified Anti-Money Laundering Specialist (the 6th edition), Section 3.2.3 Geographic Risks, p.
59.

NEW QUESTION # 191
According to Basel Committee on Banking Supervision guidelines, which of the following statements best describes the relationship between the internal audit function and compliance?

A. An internal audit program of adequacy of the bank's compliance function should be established, but should not include review of transactions.
B. The compliance function and internal audit function should be combined.
C. The auditors should not discuss internal audit findings with compliance management to maintain independence.
D. The internal audit methodology should include an assessment of compliance risk.

Answer: A

NEW QUESTION # 192
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CAMS Reliable Test Questions, CAMS Valid Exam Discount

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q187-Q192):

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