Free ACAMS CGSS Exam Dumps Questions & Answers

Which are common misconceptions related to an effective sanctions program? (Select Two.)

• A.An individual sending a USD wire that automatically involves the US sanctions.
• B.A company must assess sanctions risks during the due diligence phase of a merger and acquisition.
• C.A US citizen has been working in the EU and thus, US sanctions do not apply.
• D.The individual or entity is not explicitly named on a sanctions list, therefore there are no potential sanctions risk.
• E.Parties involved in import or export and related transactions could be subject to financial sanctions.

While reviewing a transaction screening alert, an analyst noted that a payment message made reference to a port in a sanctioned country. The payment was to a company based in a country neighboring the sanctioned country. Which action should the analyst take?

• A.Review if the beneficiary party's country applies sanctions on the neighboring country; if not, the payment can be approved.
• B.Reject the payment and request the remitter to remove any reference to sanctioned country port in the payment message.
• C.Request the underlying documents and shipment details to ensure there is no involvement of a sanctioned party, port, or sanctioned country goods.
• D.Approve the payment since the parties in the payment are not based in a sanctioned country or are not subject to sanctions.

Which fields of a payment message are commonly subject to sanctions screening? (Select Three.)

• A.Sender's internal payment reference number
• B.Effective day of the payment
• C.Agents, intermediaries, and financial institutions
• D.Free text fields
• E.Currency and notional value of the transaction
• F.Remitter and beneficiary

A compliance analyst at a UK-based company is reviewing a transaction alert for Entity A. A representative provided documentation that a UK Asset Freeze individual reduced their stake in Entity A from 70% to 30% shortly after they became subject to sanctions. Which steps should the analyst recommend first?

• A.Reject the transaction and report it to the competent authority.
• B.Conduct enhanced due diligence on Entity A to verify the provided documentation regarding the reduction of ownership by a sanctioned individual.
• C.Allow the transaction to proceed and thoroughly document the provided information verifying the reduction in ownership by a sanctioned individual.
• D.Allow the transaction to proceed and remove Entity A from the screening filters.

According to the 2019 Wolfsberg Guidance on Sanctions Screening, which is related to the fundamental pillars of sanctions screening programs?

• A.External reporting
• B.External audit
• C.Risk management
• D.Risk assessment