Free ACAMS CGSS Exam Dumps Questions & Answers

Which would constitute a deceptive shipping practice for the purpose of sanctions evasion?

• A.Refueling at a port in a prohibited country
• B.Disabling the Automatic Identification System on vessels
• C.Transshipments
• D.Chartering the entire vessel to a single client

The screening process identifies that a wire payment is received from a shipping company registered in a high-risk jurisdiction, and the funds are temporarily held. An invoice forwarded via the intermediary bank indicates that the payment was made on behalf of an apparent shell company. Which action would be most appropriate from a sanctions risk standpoint?

• A.Freeze/block the payment.
• B.Request further information regarding the payment, shell company, and beneficiary before proceeding.
• C.Proceed with the payment if the originator, shell company, and beneficiary are not present on a sanctions list.
• D.Report the payment to the appropriate governmental authority due to sanctions concerns.

"Al-Falah Company", registered in Dubai, wants to open an account at a financial institution. Through due diligence, the compliance team finds out that "El-Fallah Investments", based in Iraq, is under UN sanctions for facilitating terrorism financing. The listed Chief Executive Officer (CEO) of the sanctioned entity is not the same as the CEO of the potential client. How should the compliance team proceed?

• A.This is a near match, thus the client should only be onboarded depending on the financial institution's risk appetite.
• B.There are enough similarities to pursue further investigation before a decision can be made.
• C.There is insufficient reason to escalate the case for further investigation and the client can be onboarded.
• D.The potential client should not be onboarded and the regulator must be notified.

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

Which directs the Office of Foreign Assets Control to list non-US persons as Specially Designated Nationals?

• A.Executive Orders issued by the US President
• B.Financial Action Task Force Recommendations
• C.Sectoral Sanctions Identifications issued by the US Treasury Department
• D.UN Security Council Resolutions