CAMS · Question #450
Which is an emerging risk associated with cyber-enabled fraud?
The correct answer is C. Mismatch between account names and government-issued documentation. This is an emerging risk associated with cyber-enabled fraud because the use of false identities and documents can allow criminals to disguise their activities and evade detection. In such cases, the name and address provided on the account may not match the name and address on…
Question
Which is an emerging risk associated with cyber-enabled fraud?
Options
- AMultiple people colluding to place funds in the financial market
- BReceipt of joint account wire transfers
- CMismatch between account names and government-issued documentation
- DFrequent transactions in round or whole dollars
How the community answered
(22 responses)- A18% (4)
- B5% (1)
- C73% (16)
- D5% (1)
Explanation
This is an emerging risk associated with cyber-enabled fraud because the use of false identities and documents can allow criminals to disguise their activities and evade detection. In such cases, the name and address provided on the account may not match the name and address on the government-issued documentation. This discrepancy can be difficult to detect, making it a potential risk for financial institutions.
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