CAMS · Question #16
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party…
The correct answer is C. Bringing $15,000 worth of chips into the casino D. Requesting a wire transfer to an unrelated third party. Bringing $15,000 worth of chips into the casino is a red flag because it could indicate that the customer is trying to avoid the currency transaction reporting (CTR) requirement for cash transactions over $10,000. Requesting a wire transfer to an unrelated third party is…
Question
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party. What are two red flags that indicate money laundering? (Choose two.)
Options
- ACustomer redeeming all remaining chips
- BPlaying various games before cashing out
- CBringing $15,000 worth of chips into the casino
- DRequesting a wire transfer to an unrelated third party
How the community answered
(16 responses)- A6% (1)
- B13% (2)
- C81% (13)
Explanation
Bringing $15,000 worth of chips into the casino is a red flag because it could indicate that the customer is trying to avoid the currency transaction reporting (CTR) requirement for cash transactions over $10,000. Requesting a wire transfer to an unrelated third party is another red flag because it could indicate that the customer is trying to conceal the source or destination of the funds, or transfer them to a high-risk jurisdiction.
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