CAMS · Question #815
Unusual wire transfer transactions can include: (Choose two.)
The correct answer is A. wire transfers in different currencies between accounts held at different banks for the same client. B. an incoming third-party wire transfer followed by the purchase of real estate in the client's name. Unusual wire transfer transactions may include transfers in different currencies between accounts at different banks for the same client, which can be used to obscure fund flows, and incoming third- party transfers followed by real estate purchases, which may indicate layering…
Question
Unusual wire transfer transactions can include: (Choose two.)
Options
- Awire transfers in different currencies between accounts held at different banks for the same client.
- Ban incoming third-party wire transfer followed by the purchase of real estate in the client's name.
- Can incoming wire transfer followed by the loan payment to a third party that is a business
- Dmultiple wire transfers sent to counterparties associated with the client as per KYC
How the community answered
(44 responses)- A73% (32)
- C18% (8)
- D9% (4)
Explanation
Unusual wire transfer transactions may include transfers in different currencies between accounts at different banks for the same client, which can be used to obscure fund flows, and incoming third- party transfers followed by real estate purchases, which may indicate layering and integration stages of money laundering. These patterns deviate from typical financial behavior and warrant closer scrutiny.
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