CAMS Question #891: Real Exam Question with Answer & Explanation

The correct answer is A. Using gaming accounts to transfer illicit funds between players undetected B. Structuring transactions to avoid reporting thresholds by keeping them under certain limits C. Providing false personal information to evade regulatory oversight. Risks tied to the misuse of gaming accounts include transferring illicit funds between players undetected, structuring transactions to avoid reporting thresholds, and providing false personal information to evade KYC and regulatory oversight, all of which can facilitate money lau

Question

Which risks are specifically associated with the misuse of gaming accounts in financial crime? (Choose three.)

Options

AUsing gaming accounts to transfer illicit funds between players undetected
BStructuring transactions to avoid reporting thresholds by keeping them under certain limits
CProviding false personal information to evade regulatory oversight
DEnsuring identity verification is completed prior to the onboarding of new customers
EInvesting all gaming winnings into high-risk stocks to conceal funds

Explanation

Risks tied to the misuse of gaming accounts include transferring illicit funds between players undetected, structuring transactions to avoid reporting thresholds, and providing false personal information to evade KYC and regulatory oversight, all of which can facilitate money laundering and other financial crimes.

Community Discussion

No community discussion yet for this question.

Full CAMS Practice