This page was exported from Free valid test braindumps [ http://free.validbraindumps.com ] Export date:Sat Apr 5 16:50:44 2025 / +0000 GMT ___________________________________________________ Title: Verified CAMS dumps Q&As 100% Pass in First Attempt Guaranteed Updated Dump from ValidBraindumps [Q225-Q239] --------------------------------------------------- Verified CAMS dumps Q&As 100% Pass in First Attempt Guaranteed Updated Dump from ValidBraindumps Pass CAMS Certification CAMS Exam With  512 Questions The CAMS certification is issued by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization in the AML field. ACAMS provides training, certification, and networking opportunities to AML professionals worldwide. The CAMS certification is valid for three years, and candidates are required to earn 60 continuing education credits (CECs) during this period to maintain their certification status. ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a highly respected certification program that is designed to help professionals in the financial crime prevention field to demonstrate their expertise in the industry. Certified Anti-Money Laundering Specialists certification is recognized globally and is highly valued by employers in financial institutions, regulatory bodies, and law enforcement agencies. The CAMS certification is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS) which is the largest international membership organization dedicated to enhancing the knowledge, skills, and expertise of AML/CTF professionals.   NEW QUESTION 225What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?  It is not used on a daily basis  The service fees are insufficient to cover the cost of managing the account  The respondent bank’s customer acceptance and know your customer policies are ineffective  The volume and value of transactions passing through the account may not be in line with the original correspondent agreement Explanationhttps://www.bis.org/publ/bcbs85.pdf – page 12Banks should gather sufficient information about their respondent banks to understand fully the nature of the respondent’s business. Factors to consider include: information about the respondent bank’s management, major business activities, where they are located and its money-laundering prevention and detection efforts; the purpose of the account; the identity of any third party entities that will use the correspondent banking services; and the condition of bank regulation and supervision in the respondent’s country. Banks should only establish correspondent relationships with foreign banks that are effectively supervised by the relevant authorities. For their part, respondent banks should have effective customer acceptance and KYC policies.NEW QUESTION 226During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false.How should the investigator respond?  Inform the suspect that deception is obvious and continue the interview  Advise the suspect that the interview will be terminated if there is suspicion of deception  Direct the interview in another direction until there is better rapport before returning back to the troubling question  Ask question of a material nature about the suspected false statements without revealing the suspected deception NEW QUESTION 227A foreign bank operating under an offshore license wants to open a correspondent account with a United States (U.S.) bank. The foreign bank plans to provide payable through account services to some of its customers.What must the foreign bank provide to the U.S. bank under the USA PATRIOT Act?  A list of politically exposed persons who are owners of the correspondent bank  A list of account holders at the financial institution who will use the payable through account  The person in the United States who can receive service of legal process for the correspondent bank  A list of anti-money laundering training records for the financial institution employees monitoring payable through account transactions NEW QUESTION 228In which two ways do Financial Action Task Force-style regional bodies influence anti-money laundering and terrorist financing standards within their respective regions? (Choose two.)  They issue typologies specific to their geographical region.  They administer mutual evaluations of participating members.  They enforce the laws of the member countries in their geographic region.  They require participating countries to adopt laws in line with their recommendations. NEW QUESTION 229What is most valuable when using the internet as an investigative source?  A team of AML investigators  A reference list of websites known to yield credible information  A combination of independent thinking and technical skills  A powerful search engine NEW QUESTION 230How should a financial institution deter money laundering through new accounts? Choose 3 answers  Document the identity of the party opening the account  Query owner’s names against FATF database  Determine the beneficial owner(s) of the account  Seek to determine the source of deposited funds NEW QUESTION 231What is the main role of the Egmont Group in combating money laundering and terrorist financing?  To establish regulations that countries must use when establishing their own FIUs  To find ways that FIUs can better cooperate amongst themselves and exchange information  To require that all countries participate in a global repository for the sharing of information  To create standards that countries can use when drafting laws to combat money laundering and terrorist financing NEW QUESTION 232When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?  Provide all records and documents the officer believes would be pertinent to the lawenforcement agent’s investigation  Refuse to provide any records or documents until the agent narrows the scope of the requestdown to what he or she actually needs  Not act on the legal process until the bank officer has contact w4h the agent and learns whatthe agent is investigating  if there is no basis for contesting the request, provide what is requested NEW QUESTION 233A large international bank has detected potentially suspicious activity in one of its customer accounts. Following an investigation, the bank has determined the activity to be typical of suspected money laundering.To which entity should this activity be reported on a suspicious transaction report according to Financial Action Task Force?  National Security Council  Financial Intelligence Unit  Local law enforcement agency  Federal law enforcement agency NEW QUESTION 234A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at E30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.Which red flag should stop the agent from discussing this potential purchase further?  The clients are foreign  The clients have the funds necessary to fund a E30 million purchase  The clients are not willing to have their names provided to the bank  The clients want to purchase to be made in the names of the private companies NEW QUESTION 235What should a compliance officer do during an ongoing investigation into a client’s activities by a competent authority?  Ensure communication with regulatory and law enforcement authorities is conducted onlythrough the Board of Directors  Communicate only in writing regulatory and law enforcement authorities in line with applicablelocal laws  Communicate with regulatory and law enforcement authorities in line with applicable local laws  Only provide information that is specifically and directly requested NEW QUESTION 236What is the term for trading through multiple accounts, where an individual generates offsetting profits and losses and transfers of positions through accounts that do not appear to be commonly controlled?  Ponzi scheme  Market Manipulation  Net Trading  Wash Trading Explanation“‘Wash trading’ through multiple accounts generates offsetting profits and losses and transfers of positions between accounts that do not appear to be commonly controlled”NEW QUESTION 237What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)  At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.  Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.  Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.  An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors. NEW QUESTION 238What are three potential issues for foreign financial institutions maintaining correspondent accounts with U.S.banks under the Patriot Act?  Cancellation of correspondent banking relationships  Forfeiture of funds in a U.S. interbank account  Prohibition of correspondent accounts for shell banks  U.S. residents maintaining private banking accounts NEW QUESTION 239Why do trusts established in certain offshore jurisdictions make good vehicles to launder money?  Names of the settlor and beneficiaries are not publicly available  Trust are typically set up to minimize taxes  Offshore jurisdictions are unfamiliar with trusts  Trusts may hold assest of significant size  Loading … Pass CAMS Tests Engine pdf - All Free Dumps: https://www.validbraindumps.com/CAMS-exam-prep.html --------------------------------------------------- Images: https://free.validbraindumps.com/wp-content/plugins/watu/loading.gif https://free.validbraindumps.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2023-12-14 12:05:59 Post date GMT: 2023-12-14 12:05:59 Post modified date: 2023-12-14 12:05:59 Post modified date GMT: 2023-12-14 12:05:59