CAMS · Question #554
CAMS Question #554: Real Exam Question with Answer & Explanation
The correct answer is B. 1, 2, and 4 only. The most suspicious transaction indicators related to casino activities are: A client requests a winnings check (cheque) in a third party's name. This could indicate an attempt to conceal the source or ownership of the funds, or to evade reporting requirements. Acquaintances bet
Question
Options
- A1, 2, and 3 only
- B1, 2, and 4 only
- C1, 3, and 4 only
- D2, 3, and 4 only
Explanation
The most suspicious transaction indicators related to casino activities are: A client requests a winnings check (cheque) in a third party's name. This could indicate an attempt to conceal the source or ownership of the funds, or to evade reporting requirements. Acquaintances bet against each other in even-money games and it appears they are intentionally losing to one of the parties. This could indicate a scheme to launder money through the casino by transferring funds from one party to another without attracting attention. A client requests the transfer of winnings to the bank account of a third party in a country without an effective anti- money laundering regime. This could indicate an attempt to move funds to a high-risk jurisdiction or to a person or entity that is involved in illicit activities.
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