Free ACAMS CGSS Exam Dumps Questions & Answers

Fuzzy logic uses several common algorithms, including:

• A.whitelists.
• B.phonetics.
• C.inequalities lists.
• D.big data.

A compliance officer is reviewing a vendor contract for providing services on behalf of the bank. Which information should be included within the contract?

• A.Investigation procedures for reviewing alerts
• B.Compliance with sanctions laws and regulations
• C.Ongoing filter tuning procedures
• D.Risk assessment methodology

Who must comply with Office of Foreign Assets Control regulations in all circumstances?

• A.Foreign companies with US subsidiaries
• B.US persons, including all US citizens and permanent resident aliens
• C.Foreign persons in possession of US-origin goods
• D.Foreign financial institutions without a US nexus

A US financial institution finds a customer is listed under the Specially Designated Nationals List in the last Office of Foreign Assets Control (OFAC) update. The customer's accounts are immediately blocked. How quickly should the financial institution report this action to OFAC?

• A.13 business days
• B.10 business days
• C.11 business days
• D.14 business days

The legal counsel of a Canadian-based entity is drafting a contract in connection to selling goods to a legal entity client incorporated in Iran that operates in the financial sector of the Iranian economy. Which item should be addressed in the contract?

• A.Parties must commit that the transaction will be conducted in compliance with Canadian sanctions related to Iran.
• B.Parties must commit to comply with EU operators' obligations outlined under the EU's blocking statute.
• C.Parties must commit to avoid mentioning or including any reference to Iran in financial transactions related to the contract.
• D.Parties must commit to issue or receive all payments related to the contract via cross-border wire payments denominated in USD.