ACAMS
CAMS · Question #53
CAMS Question #53: Real Exam Question with Answer & Explanation
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Question
An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information. What are two red flags that indicate how trade-based money laundering could be occurring in this instance? (Choose two.)
Options
- AThe transaction involves the use of front (or shell) companies
- BThe packaging is inconsistent with the commodity or shipping method
- CSignificant discrepancies appear between the description of the commodity on the bill of lading
- DThe type of commodity being shipped appears inconsistent with the exporter or importer's regular
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