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[Hardware] Valid Braindumps CAMS Pdf - CAMS Test Voucher

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【Hardware】 Valid Braindumps CAMS Pdf - CAMS Test Voucher

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The CAMS exam is recognized as the gold standard in AML certification, and passing the exam is a significant achievement in the AML field. Certified Anti-Money Laundering Specialists (the 6th edition) certification is highly valued by employers, and many organizations require their employees to be CAMS Certified. The CAMS certification is also recognized by regulatory bodies and law enforcement agencies worldwide, which makes it a valuable asset for professionals working in the AML field.
ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q247-Q252):NEW QUESTION # 247
Money laundering has social and economic impacts, especially within developing countries. A high volume of money laundering in a country may: (Select Two.)
  • A. Lower the employment rate.
  • B. Reduce confidence in the country's financial sector.
  • C. Dissuade government tax incentive programs.
  • D. Reduce volatility in exchange and interest rates.
  • E. Dissuade foreign investment.
Answer: B,E
Explanation:
Money laundering negatively affects economic stability by discouraging investment, distorting markets, and eroding public trust.
* Option A (Correct):A financial system tainted by money laundering loses credibility, leading to reduced investor and consumer confidence.
* Option D (Correct):Foreign investors avoid jurisdictions with weak AML controls due to the risk of sanctions and reputational damage.
* Option B (Incorrect):While tax evasion is linked to money laundering, it does not directly affect the decision to implement tax incentives.
* Option C (Incorrect):Unemployment may result from economic instability, but money laundering does not directly cause job losses.
* Option E (Incorrect):Money laundering often increases volatility in financial markets, not reduces it.
Reference:FATF Report on the Consequences of Money Laundering (2011); World Bank Report on Financial Integrity (2020).

NEW QUESTION # 248
Which product is considered to be of highest money laundering risk?
  • A. Savings accounts
  • B. Credit cards
  • C. International wire transfers
  • D. Time deposit accounts
Answer: C
Explanation:
International wire transfers are considered to be of highest money laundering risk because they can facilitate the rapid and anonymous movement of funds across borders and jurisdictions, making it difficult for law enforcement and regulators to trace the origin and destination of the funds, and to identify the beneficial owners and controllers of the accounts involved. International wire transfers can also be used to layer and integrate illicit proceeds into the legitimate financial system, by disguising the source, ownership, and purpose of the funds. International wire transfers can involve multiple intermediaries, complex payment chains, and inconsistent or incomplete information, which can increase the risk of money laundering and terrorist financing. Therefore, international wire transfers are subject to enhanced due diligence, record-keeping, and reporting requirements under various anti-money laundering and counter-terrorist financing (AML/CTF) regulations and standards, such as the Financial Action Task Force (FATF) Recommendations1, the European Union (EU) Funds Transfer Regulation2, and the United States (US) Bank Secrecy Act3.
Reference:
1: FATF (2012), International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation, FATF, Paris, France, Recommendation 16 and Interpretive Note to Recommendation 16. 2: Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006 (OJ L 141, 5.6.2015, p. 1) 4 3: 31 U.S.C. §§ 5311-5330 and 31 C.F.R. Chapter X V You cannot make international money transfers unless the money is credited to the account. So first priority saving account, subsequent risk international wire transfer
"A savings account, as well as a checking account, can be one of the riskiest financial instruments for money laundering operations given the ease with which it can be opened and operated".

NEW QUESTION # 249
the Financing of Terrorism (CFT)]
Financial institutions (FIs) perform AML risk assessments to ensure:
  • A. proper controls surrounding higher-risk products, services, customers, and geographic locations.
  • B. a record for regulators indicating an AML risk assessment was completed at least once.
  • C. internal audit assurance that all AML-related policy and procedures are board approved.
  • D. satisfaction of the board of directors' approved risk appetite.
Answer: A
Explanation:
AML risk assessments are a key component of the risk-based approach to AML compliance, as required by the MLR 20171 and the FATF Recommendations2. AML risk assessments help FIs to identify, assess, and mitigate the money laundering and terrorist financing risks they face, taking into account their specific products, services, customers, and geographic locations. AML risk assessments also help FIs to allocate their resources and implement their AML policies and procedures in a proportionate and effective manner. AML risk assessments are not meant to be a one-off exercise, but rather an ongoing process that should be updated regularly to reflect changes in the FI's risk profile and the external environment.
:
1: The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations
2017
2: The FATF Recommendations - International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation Reference: https://www.wolfsberg-principles ... .%20Wolfsberg-Risk- Assessment-FAQs-2015.pdf

NEW QUESTION # 250
A customer comes into the bank and appears to be ill-at-ease waiting in the teller line. When the customer gets to the teller, he become exceedingly nervous and asks for a large cashier's check to be cashed and disbursed to him in $100 bills.
What should the teller do after completing the transaction?
  • A. File a CTR on the customer by the end of the day
  • B. Confer with the bank' s account going forward
  • C. Monitor the customer's account going forward
  • D. File a SAR on the customer
Answer: C
Explanation:
A customer who is nervous, uneasy, or in a hurry to cash a large cashier's check may be trying to launder money or evade reporting requirements. The teller should complete the transaction as normal, but also flag the customer's account for further monitoring and review. The teller should look for any unusual or suspicious patterns of activity, such as frequent large cash transactions, transfers to or from high-risk jurisdictions, or transactions that do not match the customer's profile or expected behavior. The teller should also document the transaction and the customer's demeanor, and report any findings or concerns to the appropriate authority within the bank.
The teller should not confer with the bank's account going forward, as this may alert the customer to the bank's suspicion or compromise the investigation. The teller should not file a SAR on the customer, unless there are other grounds to suspect money laundering or terrorist financing, as this may be premature or unnecessary. The teller should not file a CTR on the customer by the end of the day, unless the transaction exceeds the threshold of $10,000, as this is a legal requirement for cash transactions in the US.
References:
[ACAMS Study Guide for the CAMS Certification Examination, 6th Edition], Chapter 4: Conducting or Supporting the Investigation Process, pp. 103-104, 107-108.
Suspicious Activity Reporting - Overview, Federal Financial Institutions Examination Council, April
2018, pp. 1-2, 4-5.
Currency Transaction Reporting - Overview, Federal Financial Institutions Examination Council, April
2018, pp. 1-2, 4-5.
17 AML Analyst Interview Questions and Answers, CLIMB, July 15, 2022.

NEW QUESTION # 251
Whichrisk factors should a financial institution (FI) examinefor anew corporate customer intending to open a bank account? (Select Three.)
  • A. Theemployment profilesand information of all employees of the new customer.
  • B. Thecountry or locationwhere the customer is from or conducts business.
  • C. Theidentity of senior managing officialsand all individuals authorized to operate the account.
  • D. All thefinancial institutions where the new customer currently banks or banked previously.
  • E. Thetype of businessthe corporate customer is engaged in.
Answer: B,C,E
Explanation:
When onboardingnew corporate customers,financial institutions must conduct thorough due diligence (KYC
/CDD)to assess therisk profileof the business.
Option A (Correct):Knowing the customer's business activityiscriticalto identifying if it is ahigh-risk industry (e.g., cash-intensive businesses, virtual assets, shell companies).
Option D (Correct):Identifyingsenior management and account operatorsensures that therightful owners and controllersare known.
Option E (Correct):Jurisdictional riskis a key factor. If the company operates in ahigh-risk country, enhanced due diligence (EDD) may be required.
Option B (Incorrect):Employment profiles ofall employeesarenot relevantunless the employees arepolitically exposed persons (PEPs)or linked to financial crime.
Option C (Incorrect):Knowing where a business previously bankedis not standard practiceunless the entity is flagged forsuspicious activity.
AML Risks in Corporate Banking:
Shell Companies & Complex Ownership Structures:Can be used tohide beneficial ownersand launder illicit funds.
High-Risk Countries & Sanctions Exposure:Customers linked tohigh-risk jurisdictions (FATF Grey/Blacklist) may requireEDD measures.
Unusual Business Nature:Some businesses (e.g.,cash-intensive industries, cryptocurrency firms) havehigher financial crime risks.
Best Practices:
Conduct KYC/CDD at account openingandperiodic reviewsfor risk management.
Use beneficial ownership registriesto verify theultimate beneficial owners (UBOs).
Cross-check against sanction lists(OFAC, UN, EU, etc.).
Reference:
FATF Recommendation 10 (Customer Due Diligence)
6th EU Anti-Money Laundering Directive (6AMLD)
Wolfsberg Group Guidance on Corporate Banking Risks

NEW QUESTION # 252
......
By earning the ACAMS CAMS certification, you may stop worrying about the bad things that might happen and instead concentrate on the advantages of making this decision and developing new skills that will increase your chances of landing your ideal job. You should start the preparations for the ACAMS CAMS Certification Exam to improve your knowledge.
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