Pearson CAMS New Attempt

Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Questions and Answers

Question 41

An AML/CFT unit often compiles information about customer activity and product usage that might be of interest to other parts of the organization.

Before allowing the unit to communicate such information internally, the organization must review:

Enterprise-wide risk assessments and the employee handbook for any limitations on sharing commercially sensitive customer data

The risk rating of the customers to avoid sharing data relating to higher risk customers

The organization's AML compliance policies to ensure that customer data can be easily shared internally and internationally

Applicable data privacy laws in relevant jurisdictions and the organization's data security and privacy policies for any limitations

Question 42

Which of the below is a core function of a financial intelligence unit (FIU) as described in FATF Recommendation 29?

Sponsoring the research and development of advanced technological surveillance tools to be used nationally

Prosecuting significant cases of money laundering or terrorist financing falling under national jurisdiction

Sharing real-time criminal intelligence gathered from national law enforcement agencies with the private sector

Serving as a national center for the collection and analysis of suspicious activity

Question 43

Which external data source is most reliable for verifying beneficial ownership during onboarding?

Adverse media databases

Publicly available information on non-government data repositories

Credit reference agencies

Beneficial ownership registers available in country of incorporation of entity

Question 44

Reference data screening includes the screening of which types of datasets? (Select Two.)

Types of payment messages

Customers

Third-party service providers

Customer spouses