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CAMS · Question #40

In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign cou

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Conducting and Responding to Investigations

Question

In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks. Which two transaction types warrant investigation? (Choose two.)

Options

  • ARegular cash deposits
  • BThe wires to foreign countries
  • CRepeated checks to the same payees
  • DChecks drawn on banks in foreign countries

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Topics

#business account analysis#international wires#foreign checks#transaction typology
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