LATEST TEST CAMS ENGINE SUPPLY YOU VALID VALID EXAM ONLINE FOR CAMS: CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS TO STUDY EASILY

Latest Test CAMS Engine Supply you Valid Valid Exam Online for CAMS: Certified Anti-Money Laundering Specialists to Study easily

Latest Test CAMS Engine Supply you Valid Valid Exam Online for CAMS: Certified Anti-Money Laundering Specialists to Study easily

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The CAMS certification is issued by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization in the AML field. ACAMS provides training, certification, and networking opportunities to AML professionals worldwide. The CAMS certification is valid for three years, and candidates are required to earn 60 continuing education credits (CECs) during this period to maintain their certification status.

The CAMS exam consists of multiple-choice questions that cover four main areas: AML Compliance Programs, Money Laundering Risks and Methods, Compliance Standards for Anti-Money Laundering and Combating the Financing of Terrorism, and Conducting and Supporting AML Investigations. CAMS Exam is designed to test the knowledge and skills of AML professionals at all levels, from entry-level to advanced practitioners. The CAMS certification is valid for three years, and individuals must maintain their certification by earning continuing education credits.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q661-Q666):

NEW QUESTION # 661
How can awareness be raised within countries that do not have sanctions regulatory regimes? (Select Two.)

  • A. Enforcement and pecuniary fines against these countries.
  • B. Bilateral conversations and cooperation between governments.
  • C. AFC (Anti-Financial Crime) and sanctions-related seminars, webinars, and training within these countries.
  • D. Restrict trade between countries that have robust AML/CFT and sanctions regulatory regimes and those that do not.

Answer: B,C

Explanation:
Many jurisdictions lack robust sanctions frameworks, requiring international cooperation and education to improve compliance.
Option B (Correct): Educational initiatives such as AML/sanctions training and workshops help raise awareness and build capacity.
Option D (Correct): Bilateral cooperation allows knowledge-sharing and technical assistance between regulatory authorities.
Why Other Options Are Incorrect:
Option A (Incorrect): Trade restrictions may pressure non-compliant nations, but they do not directly improve sanctions awareness.
Option C (Incorrect): Enforcing fines without prior education or assistance is ineffective and may create diplomatic tensions.
Best Practices for Sanctions Awareness & Compliance:
Develop international AML/sanctions training programs for emerging markets.
Encourage diplomatic engagement to strengthen legal frameworks.
Leverage FATF's Mutual Evaluation process to assess progress.
Reference:
FATF Recommendation 6 (Sanctions & International Cooperation)
OFAC Guidance on Sanctions Compliance for Emerging Jurisdictions
Egmont Group Guidelines on Information Sharing & Capacity Building


NEW QUESTION # 662
A local law enforcement officer, who is conducting a criminal investigation, requests information about a customer.
Which two actions should the bank take? (Choose two.)

  • A. Close the account immediately
  • B. File a suspicious transaction report
  • C. Review the money laundering risk posed by the account
  • D. Monitor the account for suspicious activity

Answer: C,D

Explanation:
Explanation/Reference:


NEW QUESTION # 663
The Financial Action Task Force recommends the incorporation of some measures in customer due diligence programs including:

  • A. conducting ongoing due diligence on the business relationship and monitoring of transactions.
  • B. conducting the risk assessment of products and services.
  • C. identifying the number of beneficial owners without the verification of their true identity.
  • D. identifying the products and services and their suitability to customers.

Answer: A

Explanation:
Ongoing Due Diligence: FATF emphasizes the importance of continuous monitoring of business relationships and transactions. This involves regularly assessing the risk associated with a customer and ensuring that the information remains up-to-date. It includes monitoring transactions for any suspicious activity or red flags.
Beneficial Owners: Identifying beneficial owners is crucial, but it must be done with verification of their true identity. This is part of the initial due diligence process.
Risk Assessment: Conducting risk assessments is essential, but it is not specific to customer due diligence.
Risk assessment applies broadly to anti-money laundering (AML) programs.
Products and Services Suitability: While understanding the suitability of products and services is relevant, it is not a direct measure within customer due diligence.
References:
Anti-Money Laundering Specialist (the 6th edition) resources.
FATF 40 Recommendations (Recommendation 10: Customer Due Diligence).1
CFATF Technical Articles (Customer Due Diligence Measures).2


NEW QUESTION # 664
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 charity group revealed a director having dose ties with a known terrorist group primarily financed through kidnapping and extortion.
What is a key risk indicator associated with terrorism financing?

  • A. There is a link between the charity group and a known terrorist group
  • B. A large sum sent by money order to a charity
  • C. There is no risk relating of terrorism financing when the charity group is operating legitimately in that country
  • D. The sender is a Political Exposed Person (PEP) and should be subject to enhanced due diligence

Answer: A


NEW QUESTION # 665
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 the lawyer do according to European Union Money Laundering Directives?

  • A. Follow bank secrecy laws.
  • B. Report the facts to the competent authorities.
  • C. Adhere to business confidentiality laws.
  • D. Inform the client of the intent to terminate services.

Answer: C

Explanation:
According to the FATF Recommendations, financial institutions should maintain all necessary records on transactions and customers for at least five years, and make them available to competent authorities upon appropriate authority1. This includes records and documents related to suspicious transactions that have been reported to the financial intelligence unit (FIU) or other designated authorities. Providing the supporting documentation to competent authorities upon request is essential for the investigation and prosecution of money laundering and terrorist financing offences, as well as for the identification and tracing of criminal assets2.
Hinting to the customer that she should come in and explain her behavior is not a correct answer, as it may tip off the customer about the suspicion and compromise the effectiveness of the reporting system. Financial institutions should not disclose to the customer or to third parties that a suspicious transaction report (STR) or related information is being reported to the FIU3.
Maintaining adequate written documentation of all individuals and transactions reported is not a sufficient answer, as it does not imply cooperation with competent authorities. Financial institutions should not only keep records, but also provide them to the authorities when requested.
Submitting information upon receiving a legal request from parties involved in a civil lawsuit is not a relevant answer, as it does not relate to the cooperation with competent authorities for AML/CFT purposes. Civil lawsuits are not part of the AML/CFT framework, and financial institutions should not disclose confidential information to private parties without proper legal grounds.
References:
FATF Recommendation 11: Record-keeping 1
FATF Recommendation 31: Powers of law enforcement and investigative authorities 2 FATF Recommendation 21: Tipping-off and confidentiality 3


NEW QUESTION # 666
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