CAMS Exam Questions

What are the European Union Directives on Money Laundering?

An anti-money laundering specialist has just developed and implemented an anti-money laundering program. What is the most effective resource to evaluate the effectiveness of the pr...

Which action should an FIU consider taking when it has information that might be useful to another FIU?

When should new business products to evaluated for AML concerns?

How should a financial institution deter money laundering through new accounts? Choose 3 answers

In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial sh...

What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter...

A quarterly review is conducted on a retail customers account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instru...

What are three indicators of money laundering associated with using electronic funds transfers? Choose 3 answers

A local law enforcement officer notifies the bank compliance officer that he is working on an insurance fraud scheme that appears to be running transactions using the account of a...

When providing reporting of STRs to the board, which of the following should be provided?

An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relatin...

A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company...

What should an effective anti-money laundering training program include?

To ensure that an institution's anti-money laundering program is current, which step should be taken?

According to experts, what is the most effective way to prevent money laundering through financial institutions?

Which primary international authoritative body designates sanctions?

A prospective AML officer comes highly recommended by a banks up-stream correspondent institution of similar size and make-up, located in a different city in the same country. The...

A commission rogatory would be used in which gateway to obtain information from another country?

What poses the greatest money laundering risk for a financial institution offering on-line services to customers?

A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches m different locations. The customer receives fun...

Which element is generally required of all anti-money laundering programs?

What is the term for trading through multiple accounts, where an individual generates offsetting profits and losses and transfers of positions through accounts that do not appear t...

In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and/or professions are covered? Choose 3 answers

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

Which three areas do FATF's 40 recommendations cover? Choose 3 answers

A remittance company received a money order from a senior political figure m the Philippines to transfer a large sum of money to a charity group in the Philippines. A review of the...

Why is the Mutual Legal Assistance Treaty (MLAT) a gateway for international cooperation?

Pursuant to the Third European Union Money Laundering Directive, how long after being out of prominent office should a person NOT be considered to be a Politically Exposed Person (...

Which three entities does the Third European Union Money Laundering Directive apply to?

Which situation is the highest risk for money laundering and terrorist financing activity?

Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

In performing a risk analysis, which factor(s) should a financial institution review?

According to the Second European Union Money Laundering Directive, what may knowledge of criminal conduct be inferred from?

The Wolfsberg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices?

In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?

A compliance officer is looking to update an institutions private bank procedures. What should be included as recommended by the Wolfsberg AML Principles on Private Banking?

What should senior management do in order to promote a culture of anti-money laundering compliance?

What kind of person should perform the independent testing of an institution's anti-money laundering program?

An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last y...

Which is a key reason why a financial institution (FI) conducts an enterprise-wide AML risk assessment?

Which are the two most common controls a financial institution (FI) uses to identify suspicious money-laundering activity? (Choose two.)

Which activity would require an update to the first line training program?

A foreign bank maintains a correspondent account in the US. According to an investigation carried out by US authorities, the specific correspondent account seems to have facilitate...

Financial Intelligence Units (FIUs) are responsible for:

One key aspect of promoting an enterprise-wide compliance culture within a financial institution (FI) is that the:

A bank teller receives a written request from a police officer to review a previous customer's account on a pre-populated form with the officer's official letter head. The officer...

What action should a bank CEO's assistant take when the bank CEO expenses large sums of money to a charitable organization run by the bank CEO's direct family member?

What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?

How should law enforcement obtain documentation from an institution when suspicious activity was identified? (Choose two.)