CAMS · Question #909
CAMS Question #909: Real Exam Question with Answer & Explanation
The correct answer is A. The customer is attempting to convert illicit funds into "clean" withdrawals. In the context ofgambling and gaming sectors, a well-known money laundering typology is the use of platforms tointroduce illicit funds and withdraw them as "winnings". When a customerdeposits large cash amounts and quickly withdraws themwithout engaging in actual gambling, it ind
Question
Options
- AThe customer is attempting to convert illicit funds into "clean" withdrawals
- BThe customer is attempting to avoid high fees by minimizing gambling activity
- CThe customer is testing the gaming platform's payout system for potential fraud
- DThe customer is a high-risk gambler who regularly places large bets
Explanation
In the context ofgambling and gaming sectors, a well-known money laundering typology is the use of platforms tointroduce illicit funds and withdraw them as "winnings". When a customerdeposits large cash amounts and quickly withdraws themwithout engaging in actual gambling, it indicates"placement and layering"techniques. This behavior is indicative of attempts todisguise the origin of illicit funds, converting them into legitimate-looking financial flows. It is considered a classic red flag in AML programs related to casinos and online gaming.
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