ACAMS
CAMS · Question #804
CAMS Question #804: Real Exam Question with Answer & Explanation
The correct answer is B. Some MSBs process large, individual cash transactions on behalf of customers.. Large individual cash transactions pose the highest money laundering risk for money services businesses. Cash is difficult to trace and, when handled in significant amounts, can be used to introduce illicit funds into the financial system with minimal transparency.
Question
Which of the following presents the highest money laundering risk from a money services business (MSB)?
Options
- ASome MSBs provide bureau de change services to retail customers after they complete a due
- BSome MSBs process large, individual cash transactions on behalf of customers.
- CSome MSBs allow regular and frequent transactions to the same family members based in
- DSome MSBs process small remittance payments on behalf of workers based abroad sending
Explanation
Large individual cash transactions pose the highest money laundering risk for money services businesses. Cash is difficult to trace and, when handled in significant amounts, can be used to introduce illicit funds into the financial system with minimal transparency.
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