Free ACAMS CAMS-FCI Exam Dumps Questions & Answers

An investigator receives an alert documenting a series of transactions. A limited liability corporation (LLC) wired 59.000,000 USD to an overseas account associated with a state-run oil company. A second account associated with the state-run oil company wired 600,000,000 USD to the LLC. The LLC then wired money to other accounts, a money brokerage firm, and real estate purchases.
The investigator initiated an enhanced KYC investigation on the LLC. The financial institution opened the LLC account a couple of weeks prior to the series of transactions. The names associated with the LLC had changed multiple times since the account opened. A search of those names revealed relations with multiple LLCs. Public records about the LLCs did not show any identifiable business activities.
Open-source research identified mixed reports about the brokerage firm. The firm indicated it purchased mutual funds for its clients and dispensed returns to clients.
Media reports claimed the firm laundered money by holding for a fee before returning it to investors.
The investigator discovers that the bank has no records pertaining to ownership of the LLC. What would this mean for the bank and/or investigator?

• A.The bank cannot respond to law enforcement requests without the ownership data.
• B.The bank is out of compliance with CIP regulations.
• C.The bank may not be able to file a SAR/STR without the ownership data.
• D.The bank is out of compliance with beneficial ownership regulations.

Which scenarios are common to money laundering through online marketplaces and trade-based money laundering? (Select Two.)

• A.Over-valuation of the stated price of goods
• B.Use of fraudulent letters of credit
• C.No evidence of delivery of goods or shipping expenses
• D.Use of multiple freight forwarding or export companies
• E.Frequent conversion of foreign currency

A financial regulator is evaluating the effectiveness of a financial institution's (Fl) anti-financial crime program. Which condition should be met to satisfy the regulator?

• A.The program is drafted using a risk-based approach to avoid the Fl being used as a conduit for criminal activities.
• B.In the past 3 years, internal auditing results show no high-severity issues and a maximum of three medium-seventy and four low-severity issues.
• C.The program meets the minimum requirements of anti-financial crime standards, which are published by a financial industry association.
• D.The program is aligned with the financial industry's anti-financial crime priorities.

Potentially suspicious activity following an increase in the volume of transactions by an import company included outgoing wires to Indonesia and Uganda referencing invoice numbers. Incoming funds included large cash deposits and checks/wires from pet stores, breeders, and private individuals. What financial crime might the bank reference in the SAR/STR?

• A.Tax evasion scheme
• B.Illegal wildlife trade
• C.Black market peso exchange
• D.International drug trafficking

Which action is part of the enhanced due diligence process?

• A.Applying higher ownership percentage requirement for beneficial ownership collection
• B.Using standard monitoring procedures to monitor transactions and account activity
• C.Verifying the source of wealth for entities and natural person clients
• D.Collecting beneficial ownership details regarding the client's account