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Free PDF Useful ACAMS - CAMS7 - Valid Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Test BookAll in all, our test-orientated high-quality CAMS7 exam questions would be the best choice for you, we sincerely hope all of our candidates can pass CAMS7 exam, and enjoy the tremendous benefits of our CAMS7 prep guide. Helping candidates to pass the CAMS7 Exam has always been a virtue in our company¡¯s culture, and you can connect with us through email at the process of purchasing and using, we would reply you as fast as we can. ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q84-Q89):NEW QUESTION # 84
Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?
A. Onsite and offsite reviews, cooperating on an international basis with access to a range of sanctions and outreach
B. Onsite reviews, cooperating on an international and domestic basis with outreach and access to a range of sanctions
C. Offsite reviews, cooperating on a domestic basis with access to a range of sanctions and outreach
D. Onsite and offsite reviews, cooperating on an international and domestic basis with access to a range of sanctions and outreach
Answer: D
Explanation:
An effective supervision regime includes both onsite and offsite reviews, cooperation on international and domestic levels, and access to a range of sanctions and outreach programs. This combination allows regulators to detect and address risks comprehensively while promoting compliance through engagement and enforcement.
NEW QUESTION # 85
A customer of a financial Institution (Fl) complained that they had received multiple emails appearing to originate from the Fl urging them to click on a link or open a remittance attachment for confirmation. After opening the attachment, the customer later realized that funds had been systematically transferred out of their bank account without their knowledge Which type of cybercrime is described in this scenario?
A. Pharming
B. Vishing
C. SMSishing
D. Spear phishing
Answer: D
NEW QUESTION # 86
Which statement is the most accurate describing who must comply with Office of Foreign Assets Control (OFAC) sanctions?
A. All US citizens and permanent residents regardless of where they are located, all US incorporated entities excluding their foreign branches, and all individuals and entities within the United States
B. All US citizens and permanent residents regardless of where they are located, all US incorporated entities and their foreign branches, and all individuals and entities within the United States
C. All US citizens and permanent residents while located in the US, all US incorporated entities and their foreign branches, and all individuals within the United States
D. All US citizens except those with dual nationality, US permanent residents, all US incorporated entities, and all individuals within the United States
Answer: B
NEW QUESTION # 87
In a large US bank, an individual leads a team in charge of overseeing the governance and effectiveness of the bank's transaction monitoring approach.
Which strategies should the team implement? (Select Two.)
A. Periodic and ad hoc cooperation with the legal team to appropriately investigate and monitor the transactions of subjects of subpoenas or government inquiries
B. Periodic review of client profiles to ensure that the most up-to-date information is on file for high-risk clients in line with the bank's internal policies and procedures
C. Periodic review of suspicious activity reports (SARs) filed with FinCEN to determine whether any should be withdrawn
D. Periodic review of the transaction monitoring scenarios and their productivity to ensure that appropriate AML typologies are reflected
Answer: B,D
Explanation:
Effective oversight of transaction monitoring includes:
* Periodic review of client profiles to ensure up-to-date information for high-risk clients (B):"Reviewing and updating customer profiles is essential to ensure that monitoring scenarios are based on current risk data."(CAMS 6th Edition, Transaction Monitoring and Customer Due Diligence)
* Periodic review of transaction monitoring scenarios and productivity to ensure appropriate AML typologies are reflected (D):"Firms should periodically review the parameters and output of transaction monitoring systems to ensure they continue to identify relevant ML/TF risks and typologies."(CAMS
6th Edition, Monitoring and Surveillance)
Incorrect Options:
* A: Cooperation with the legal team is important, but not a core strategy for monitoring governance.
* C: SARs filed with FinCEN should not be withdrawn unless new evidence requires it; review should focus on process, not withdrawal.
References:
CAMS 6th Edition, Transaction Monitoring
FFIEC BSA/AML Manual, Transaction Monitoring Section
NEW QUESTION # 88
A financial institution is designing an enterprise-wide risk assessment (EWRA).
According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:
A. Focus on the inherent risk in the FI's product and service offerings and the controls to mitigate potential money laundering risks.
B. Include appropriate measures and controls to mitigate money laundering risks stemming from higher- risk customers, products, and geographies.
C. Focus on understanding the risks presented by new clients within the assessment period, and the controls to mitigate associated money laundering risks.
D. Use a framework provided by a third-party vendor and used by other FIs in the jurisdiction.
Answer: B
NEW QUESTION # 89
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