ACAMS
CAMS · Question #877
Money services businesses (MSBs), payment service providers, and e-commerce platforms usually have a high volume of daily transactions. What are the risks associated with these types of businesses?…
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Risks and Methods of Money Laundering and Terrorist Financing
Question
Money services businesses (MSBs), payment service providers, and e-commerce platforms usually have a high volume of daily transactions. What are the risks associated with these types of businesses? (Choose two.)
Options
- AThese businesses are all cash intensive, increasing the risk of financial crime
- BKYC challenges arise because e-commerce platforms face global customers making customer
- CThese businesses are highly regulated and therefore have no reason to be non-compliant as this
- DCriminals can make use of identify fraud to fulfill KYC processes for layering purposes
- EThe settlement systems of these businesses are not sophisticated enough to cope with the high
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Topics
#money services businesses#e-commerce#KYC challenges#identity fraud