Free ACAMS CAMS Exam Dumps Questions & Answers

Based on the AML principles outlined by the Wolfsberg Group, what do private and correspondent banks have in common when monitoring for terrorist financing?

• A.Account and transactional activity are monitored after the proper identification and verification of customers.
• B.Transaction monitoring examines the relationship between due diligence information and account closings.
• C.Numbered or alternate name accounts will only be accepted if the bank has established the identity of the client and beneficial owner.
• D.Cash access from a pre-paid card increases the potential that the card will be used for money laundering purposes.

The compliance officer at a crowd funding website is in charge of monitoring new crowd funding projects.
Recently, the number of crowd funding projects has significantly increased.
Which red flag indicates the highest anti-money laundering risk?

• A.Those with the largest number of donors
• B.Projects with the highest monetary success threshold
• C.Projects that get funding within days of their start
• D.Projects that start and close and are fully funded within a very short period

A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.
What are two red flags that may indicate money laundering? (Choose two.)

• A.Wire transfers are to high-risk jurisdiction
• B.Large cash deposits are from a high-risk jurisdiction
• C.The bank allows cash deposits
• D.The client resides in a high-risk jurisdiction

An example of an external factor that will affect an organization's AML risk is:

• A.political system changes in a specific jurisdiction.
• B.acceptance of new customer types.
• C.introduction of mobile banking for all clients.
• D.introduction of a new product which will be offered to a wide range of clients.

A customer of a bank is an established art dealer. Within the KYC due diligence processes, which constitutes a triggering event that requires ongoing due diligence on this client?

• A.The customer keeps adding artwork service providers to the payment beneficiary list.
• B.The owner wants to exchange foreign currency for an overseas business travel.
• C.The customer specializes in art sale and hire, and recently started an art selection consulting service.
• D.The customer moves their headquarters from New Zealand to China and opens a branch in Malaysia.