The training department is conducting awareness training for unusual customer identification scenarios. Which two indicators should be included? (Select Two.)

Question

Options

• AThe customer opens the account in the name of a family member who begins making large
• BThe customer's name and home address cannot be verified
• CThe customer's internet protocol address does not match the identifying information provided
• DThe customer requests payment of proceeds to an unrelated third party.
• EThe customer frequently exchanges small bills for large bills.

• A
  74% (14)
• C
  5% (1)
• D
  16% (3)
• E
  5% (1)

Explanation

This information can be found in the Certified Anti-Money Laundering Specialist (CAMS) study guide, 6th edition, under the section on Unusual Customer Identification Scenarios. The guide explains that two indicators that should be included in awareness training for unusual customer identification scenarios are: The customer opens the account in the name of a family member who begins making large This is an indicator of potential structuring, where a customer may be attempting to avoid triggering reporting thresholds by depositing funds in smaller amounts over time. It is important for staff to be aware of this scenario and to monitor accounts for potential suspicious activity. The customer's name and home address cannot be verified. This is an indicator of potential identity theft or other fraudulent activity. If a customer's identifying information cannot be verified, it is important for staff to conduct additional due diligence to ensure that the customer is legitimate and that the account is not being used for illicit purposes.

No community discussion yet for this question.