CAMS · Question #714
CAMS Question #714: Real Exam Question with Answer & Explanation
The correct answer is D. A customer being hesitant to provide beneficiary name or address information when sending E. A customer using multiple accounts under different names to conduct transactions.. MSBs are high-risk for financial crime, requiring strict AML controls. Option D (Correct): Hesitancy to provide beneficiary information is a strong indicator of illicit financial activity. Option E (Correct): Using multiple accounts under different names is a known money launderi
Question
Options
- AA customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency
- BCash-intensive businesses, such as convenience stores or restaurants, making large cash
- CA customer completing frequent small-dollar international money transfers to their native
- DA customer being hesitant to provide beneficiary name or address information when sending
- EA customer using multiple accounts under different names to conduct transactions.
Explanation
MSBs are high-risk for financial crime, requiring strict AML controls. Option D (Correct): Hesitancy to provide beneficiary information is a strong indicator of illicit financial activity. Option E (Correct): Using multiple accounts under different names is a known money laundering
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