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Vce CAMS Questions Latest

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

Question 53

A foreign bank maintains a correspondent account in the US. According to an investigation carried out by US authorities, the specific correspondent account seems to have facilitated a transaction involving tainted funds. Which allows the US authorities to seize the funds of the foreign bank held with the US bank?

Options:

A.

The Financial Crimes Enforcement Network Customer Due Diligence Final Rule

B.

The 6th EU AML Directive

C.

Regulations of the Office of Foreign Assets Control, US Department of Treasury

D.

The USA PATRIOT Act

Question 54

AnAML analyst at a financial institutionis examining analert generated by the automated transaction monitoring systemto determine whether the alert should beescalated to the AML unit for further investigation or archived as a false positive.

Whichaction might be reasonable for the AML analyst to take?

Options:

A.

Perform below-the-line testing to ensure the automated monitoring system is operating effectively.

B.

Send a request for information to the counterparty bank involved in the transaction that caused the alert.

C.

Request information from the relationship manager assigned to the account that caused the alert.

D.

Restrict the client’s access to the account.

Question 55

Whichkey metricwould provide themost valuable datatosenior managementabout theeffectiveness of its AML controls?

Options:

A.

The number of money laundering alerts generated by the watchlist screening system.

B.

The number of clients exited for commercial reasons.

C.

The number of high-risk customers onboarded each month.

D.

The ratio of true positives to false positives generated by the automated monitoring system.

Question 56

Which of the following is an important factor to consider when setting up an anti-financial crimes (AFC) compliance program governance structure?

Options:

A.

Ensuring the structure is reviewed by an outside auditor or consultant

B.

Establishing a system of internal controls commensurate with the institution’s size and complexity

C.

Designating a qualified board of directors to monitor day-to-day compliance

D.

Establishing clear roles and responsibilities for AFC risk escalations and issues

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Total 772 questions