CAMS Exam Questions

Potential indicators of money laundering associated with Trust and Company Service Providers include: (Select Two.)

Sanctions screening requirements include that a financial institution should:

A compliance officer of a financial institution is reviewing a payment for sanctions compliance between two parties in Europe and Asia. The payment is in Euros and involves the pro...

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

A bank's transaction surveillance system triggers an alert for a deposit of 250.000 USO into a client's account. According to the bank's KYC information, the client works for a fin...

Which reputations risk consequence could a financial entity face for violating AML laws?

Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)

Which is the first valid step in the Mutual Legal Assistance Treaties international cooperation process?

How does the Asian/Pacific Financial Action Task Force <FATF>-Style Regional Body help its members implement recommendations from the FATF? (Select Two.)

A new customer has just been onboarded in a securities firm. After a few weeks, there are unusual trading patterns that are being flagged. Which pattern is most concerning to the c...

A retail bank prepares a yearly AML risk assessment. Which inherent risk factor is likely the most relevant?

What action does the USA PATRIOT Act allow the US government to take regarding financial institutions (FIs) that are based outside of the US?

The law enforcement agency (LEA) of a foreign jurisdiction contacts a financial institution (Fl) regarding one of the Fl's clients. The LEA advises that the client is currently wan...

Which payment method for purchasing luxury items is a red flag for potential money laundering?

According to the Financial Action Task Force, as part of their risk assessment, which are important data and information that a Trust and Company Service Provider must understand w...

How does the Financial Action Task Force (FAT F) measure the effectiveness of a country's efforts to combat money laundering and terrorist financing?

A compliance analyst is reviewing the account activity of a customer that they suspect may be indicative of money laundering activity. Which is difficult to determine solely from t...

The training department is conducting awareness training for unusual customer identification scenarios. Which two indicators should be included? (Select Two.)

Which is a key characteristic of the Financial Action Task Force (FATF) Regional Style Bodies for combatting money laundering/terrorist financing?

Which test should be included in a bank's Office of Foreign Assets Control sanctions screening audit program?

A well-developed anti-money laundering compliance program is unlikely to achieve institutional goals without

The most important anti-money laundering issue associated with on-line banking is accurately

During the course of work on behalf of a client, a lawyer participated in the movement of money. If the lawyer suspects an act of money laundering, which of the following should th...

Once a financial institution has reported suspicious transactions on a valued customer, it should cooperate with competent authorities by

On discovering employees had unintentionally provided assistance to customers who were structuring transactions, an anti-money laundering specialist should recommend

The owner of a local retail store makes multiple deposits daily at a bank. When the owner makes these deposits, it is noted that he goes to different tellers (cashiers). The deposi...

An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been...

A non-U.S. bank asks its U.S. correspondent whether there is risk of having funds seized in their correspondent account if a customer is involved in a predicate offense.The corresp...

An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures and controls. The bank serves high-income, high net-worth clients who include...

Normal account-opening procedures reveal a customer who contacted a financial institution to open a bank account is the brother of a prominent member of a foreign judiciary. Which...

Which of the following should an anti-money laundering specialist consider the most serious deficiency when detected during a regulatory audit of the anti-money laundering program?

An anti-money laundering specialist is employed by a large multi-national bank. The bank is planning to open an international department that will be responsible for expanding serv...

Which of the following best describes the Basel Committee on Banking Supervision's principles on customer due diligence?

Which of the following is the most likely reason for the Financial Action Task Force to remove a jurisdiction from the Non-Cooperative Countries and Territories list?

An individual opened an account with a minimal cash deposit at a financial institution. He presented a foreign passport and stated he would be working locally for a few months. He...

The most effective tool used to detect structured transactions is

An anti-money laundering specialist at a large institution is responsible for informing senior management about the status of the anti-money laundering program across the organizat...

A large cash deposit most likely reflects money laundering when it is 1. from a customer who has never conducted a transaction in cash before. 2. transacted in segments smaller tha...

Historically, which of the following vehicles is most often used to hide beneficial ownership?

A compliance officer is developing an anti-money laundering program for a financial institution located in a Financial Action Task Force member country. The institution conducts bu...

According to the Financial Action Task Force 40 Recommendations, to fulfill identification requirements concerning legal entities, financial institutions should take measures to ve...

According to Basel Committee on Banking Supervision guidelines, which of the following statements best describes the relationship between the internal audit function and compliance...

A financial institution recently purchased anti-money laundering software. The software routinely generates more alerts than the anti-money laundering staff can properly analyze as...

An internal review of anti-money laundering training documentation revealed only new agents employed by a financial institution that sells life insurance products were trained. Add...

A financial institution accepts new on-line customers. After customers have provided acceptable identification, the institution should next

An alert has been triggered by a monitoring system and an investigation has been opened. The activity involves significant and multiple cash deposits into a personal account and tr...

A client has retained a lawyer to create a financial holding company. The lawyer resides in Europe. The client provides all requested documentation to the lawyer. However, the lawy...

Can trading in antiques be useful for money laundering?

An anti-money laundering specialist has just developed and implemented an anti-money laundering program. Which of the following is the best resource to evaluate the effectiveness o...

A financial institution is reorganizing and the anti-money laundering officer is now required to report to the Sales Director. Which of the following statements about this situatio...