Verified CAMS dumps Q&As 100% Pass in First Attempt Guaranteed Updated Dump from ValidBraindumps [Q225-Q239]

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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 225
What 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

Explanation
https://www.bis.org/publ/bcbs85.pdf – page 12
Banks 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 226
During 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 227
A 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 228
In 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 229
What 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 230
How 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 231
What 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 232
When 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 233
A 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 234
A 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 235
What 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 236
What 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 237
What 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 238
What 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 239
Why 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

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