Month End Sale 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

Helping Hand Questions for CAMS

Page: 5 / 58
Total 772 questions

Certified Anti-Money Laundering Specialist (the 6th edition) Questions and Answers

Question 17

Which of the following isa core function of a Financial Intelligence Unit (FIU)as described inFATF Recommendation 29?

Options:

A.

Serving as a national centerfor thecollection and analysis of suspicious activity.

B.

Prosecuting significant cases of money launderingor terrorist financing under national jurisdiction.

C.

Sponsoring the research and developmentof advanced technological surveillance tools for AML investigations.

D.

Sharing real-time criminal intelligencegathered from national law enforcement agencies with the private sector.

Question 18

AFinancial Intelligence Unit (FIU)in a country has received aSuspicious Activity Report (SAR)involving significant suspicious fund transfers,both domestically and internationally. TheFIU requires additional information from a foreign countryto determine whether the matter needs to be referred for prosecution locally.

Which of the following statements istruein this scenario?

Options:

A.

Sovereignty of nations means thatinformation cannot be accessed from foreign countries.

B.

It isagainst international lawson data protection to access information from foreign countries.

C.

Any information related to money laundering can bereceived from any organization at any time, regardless of jurisdiction.

D.

Countries that are members of the Egmont Group can request assistancefor information from each other.

Question 19

Which of the following measures isone that the FATF recommends that Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs) taketo mitigate risks arising from business relationships withforeign politically exposed persons (PEPs)?

Options:

A.

Subscribe tocommercial databasesto assist in the detection of PEPs.

B.

Raisetransaction monitoring thresholdsfor PEP accounts in automated systems to account forhigher transaction valuesandcomplex legal vehicles.

C.

Requireapproval from the prudential regulatorfor entering into or continuing the business relationship.

D.

Establish processes tounderstand the PEP’s source of wealth and source of funds, and to refresh that understanding regularly.

Question 20

Which accurately describes the social and economic impacts of money laundering?

Options:

A.

Money laundering impacts the financial sector, which is critical for economic growth.

B.

Foreign investors are often attracted to jurisdictions with significant money laundering activity as the same conditions favour legitimate economic activity.

C.

Money launderers generally remit any tax revenue that would be due in the jurisdictions in which they operate via front businesses.

D.

Increased money laundering generally results in greater economic stability as profits are reinvested in the jurisdiction.

Page: 5 / 58
Total 772 questions