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[Hardware] Free PDF CAMS - Reliable Certified Anti-Money Laundering Specialists (the 6th ed

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【Hardware】 Free PDF CAMS - Reliable Certified Anti-Money Laundering Specialists (the 6th ed

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To prepare for the CAMS Exam, candidates can take advantage of ACAMS resources, such as study materials, webinars, and practice exams. Candidates can also attend CAMS Exam Preparation Seminars, which are offered by ACAMS and cover the key topics and concepts tested on the exam. With the right preparation and dedication, AML professionals can earn the CAMS Certification and take their careers to the next level.
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The CAMS certification exam is designed for professionals in the anti-money laundering field, including compliance officers, risk managers, investigators, and auditors. CAMS exam covers a wide range of topics, including money laundering techniques, anti-money laundering laws and regulations, compliance programs, risk assessment, and due diligence. CAMS exam is conducted online and consists of 120 multiple-choice questions that must be completed within four hours. The passing score for the exam is 75%.
To be eligible for the ACAMS CAMS Certification Exam, candidates must have a minimum of 40 qualifying credits, which can be earned through education, work experience, or professional development activities. Candidates must also agree to abide by the ACAMS Code of Professional Conduct and Ethics. CAMS exam itself consists of 120 multiple-choice questions and must be completed within three and a half hours.
ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q192-Q197):NEW QUESTION # 192
A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?
  • A. Send a notice to customers asking them to provide the necessary information
  • B. Change procedures to require that the necessary information is obtained
  • C. Change procedures and systems as necessary and provide employee training
  • D. Change systems to ensure the required information is automatically obtained from all customers
Answer: C
Explanation:
According to the CDD Rule, covered financial institutions must establish and maintain written procedures that are reasonably designed to identify and verify beneficial owners of legal entity customers and to include such procedures in their anti-money laundering compliance program1. These procedures should also be updated as necessary to reflect changes in the law or the institution's risk profile2. Moreover, the institution should provide adequate training to its employees on the new requirements and monitor their compliance3.
Reference:
1: FinCEN Guidance, FIN-2020-G002, August 3, 2020, p. 1
2: Your responsibilities under money laundering supervision - GOV.UK, Section: Customer due diligence requirements
3: Customer identification: Know your customer (KYC) | AUSTRAC, Section: Training and awareness

NEW QUESTION # 193
Which is a red flag for funds transfers?
  • A. Funds transfers are repetitive and within expected patterns.
  • B. Funds transfers are received in numerous small quantities from entities that are in related industries.
  • C. Funds transfers are repeatedly sent to the same beneficiary out of line with the business purpose.
  • D. Funds transfers are to a higher-risk geographic location with a known supplier within the same industry as the originator.
Answer: C
Explanation:
Funds transfers are electronic payments that move money from one account to another, either within the same financial institution or across different institutions, countries, or currencies1. Funds transfers are commonly used for legitimate purposes, such as remittances, trade, or investment, but they can also be abused by money launderers, terrorists, or fraudsters to move illicit funds or conceal their origin or destination2. Therefore, financial institutions and other entities that offer funds transfer services are required to apply anti-money laundering and counter-terrorism financing (AML/CFT) measures, such as customer due diligence, transaction monitoring, record-keeping, and reporting of suspicious activities2.
One of the red flags for funds transfers that may indicate money laundering or other criminal activity is when funds transfers are repeatedly sent to the same beneficiary out of line with the business purpose3. This could suggest that the originator and the beneficiary are colluding to layer or integrate illicit funds, or to evade reporting or sanctions requirements. For example, a business may send multiple funds transfers to the same supplier, but the amounts or frequencies do not match the invoices or contracts, or the supplier is located in a high-risk jurisdiction or is subject to sanctions. Alternatively, an individual may send frequent funds transfers to the same person, but the relationship or the reason for the transfers is unclear or inconsistent, or the person is associated with a criminal or terrorist organization. In such cases, the financial institution or the funds transfer service provider should conduct enhanced due diligence, verify the source and purpose of the funds, and report any suspicious activity to the relevant authorities.
Reference:
1: Wire Transfer Definition - Investopedia
2: International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation - The FATF Recommendations | FATF
3: Wire Transfer Red Flags: Money Laundering & Fraud Risks - Alessa1

NEW QUESTION # 194
the Financing of Terrorism (CFT)]
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?
  • A. Kidnapping
  • B. Offenses involving dishonesty
  • C. Driving while under the influence
  • D. Protests of government action
Answer: B
Explanation:
Reference:http://www.capitol.hawaii.gov/hr ... 8/HRS_0378-0003.htm(See
9th point)

NEW QUESTION # 195
A customer runs an export business for agricultural products. There has been steady growth over the years from sales to the Caribbean region. A sudden increase is noted in this customer's account balances during the last month.
On what grounds should an anti-money laundering specialist prepare a suspicious transaction report?
  • A. The increased activity is due to money order deposits.
  • B. Wire transfers are coming from a Financial Action Task Force member country.
  • C. Travelers checks (cheques) were purchased for trips to a Non-Cooperative Countries and Territories.
  • D. The client changed his address without advising the institution.
Answer: C
Explanation:
The customer activity that should trigger a suspicious transaction report is purchasing travelers checks (cheques) for trips to a Non-Cooperative Countries and Territories (NCCTs). This could indicate an attempt to evade currency reporting requirements, avoid sanctions or embargoes, or facilitate money laundering or terrorist financing through high-risk jurisdictions12. NCCTs are countries or territories that have been identified by the Financial Action Task Force (FATF) as having serious deficiencies in their anti-money laundering and counter-terrorist financing regimes, and that pose a threat to the international financial system3.
The other options are not necessarily grounds for a suspicious transaction report, although they may require further due diligence or monitoring depending on the customer profile and the nature of the transaction. For example:
* The increased activity is due to money order deposits. This could be a legitimate source of income for the customer's export business, or it could be a way of disguising the origin or destination of the funds. The anti-money laundering specialist should verify the identity and background of the customer and the issuers of the money orders, and check for any red flags or suspicious indicators4.
* Wire transfers are coming from a Financial Action Task Force member country. This could be a normal business practice, or it could be a sign of involvement in trade-based money laundering or other illicit activities. The anti-money laundering specialist should assess the customer's source of funds, business rationale, and market conditions, and monitor for any changes or inconsistencies.
* The client changed his address without advising the institution. This could be a simple oversight, or it could be a way of concealing the customer's true location or identity. The anti-money laundering specialist should update the customer's information, verify the new address, and check for any adverse media or sanctions.
References:
* ACAMS CAMS Certification Video Training Course - Exam-Labs3
* Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)4
* ACAMS Study Guide for the Certification Examination, 6th Edition, Chapter 1, page 11: https://www.
acams.org/wp-content/uploads/2019/08/ACAMS-Study-Guide-6th-Edition-Chapter-1.pdf
* ACAMS Study Guide for the Certification Examination, 6th Edition, Chapter 2, page 29: https://www.
acams.org/wp-content/uploads/2019/08/ACAMS-Study-Guide-6th-Edition-Chapter-2.pdf
* ACAMS Study Guide for the Certification Examination, 6th Edition, Chapter 4, page 77: https://www.
acams.org/wp-content/uploads/2019/08/ACAMS-Study-Guide-6th-Edition-Chapter-4.pdf
* ACAMS Study Guide for the Certification Examination, 6th Edition, Chapter 5, page 97: https://www.
acams.org/wp-content/uploads/2019/08/ACAMS-Study-Guide-6th-Edition-Chapter-5.pdf

NEW QUESTION # 196
An internal audit team is reviewing the anti-financial crime (AFC) program of its firm.
Which of the following attributes of the third line of defense would be most critical to ensure unbiased and effective oversight?
  • A. Consistency of approach
  • B. Qualification of the team
  • C. Periodic training of the function
  • D. Independent testing
Answer: D
Explanation:
Independent testing is critical for the third line of defense to provide unbiased and effective oversight, ensuring that reviews and audits are objective and free from influence by the first or second lines of defense.

NEW QUESTION # 197
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