Mar 26, 2024 Reliable Study Materials for CAMS Exam Success For Sure [Q164-Q186]

QUESTION 164
An existing customer at a bank has recently expanded its services to provide check cashing for its customers.
Which factor indicates the bank should terminate this relationship?

QUESTION 165
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 when establishing and administering a trust? (Select Two.)

QUESTION 166
Which action indicates possible Penza scheme activity?

QUESTION 167
An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.
How should the bank respond?

QUESTION 168
A bank employee reviews wire transactions looking for indications of wire stripping.
Which two actions should the employee take to complete appropriate bank procedures? (Choose two.)

QUESTION 169
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 instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the accounts historical profile. A suspicious transaction report will most likely be filed if what also occurred?

QUESTION 170
Who has the day-to-day responsibility of communicating and reinforcing the established anti-money laundering compliance culture and program?

QUESTION 171
Which two statements about the Wolfsberg Group are true?

QUESTION 172
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 organization.
Which report is the most useful?

QUESTION 173
A bank is preparing for its anti-money laundering independent review, which is performed every two years under the direction of the compliance officer. The bank’s corporate audit department will conduct the review.
The compliance officer will review the final report before it is released to the Board of Directors.
What is the issue with this situation?

QUESTION 174
What is a major economic consequence of money laundering through the use of front companies?

QUESTION 175
Which action should an FIU consider taking when it has information that might be useful to another FIU?

QUESTION 176
What are two sources for maintaining up-to-date sanctions information? (Choose two.)

QUESTION 177
Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

QUESTION 178
What facilitates law enforcement agent obtaining evidence from authorities in a foreign country relating to criminal activity?

QUESTION 179
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 bank employee. The law enforcement officer refers to a kiting suspicious transaction report filed by the compliance officer and requests further information.
What action should the compliance officer take?

QUESTION 180
A compliance officer for a casino may suspect money laundering if an individual:

QUESTION 181
When the minimum CDD standards of the home and host countries differ, the offices in the host countries should follow which requirements?

QUESTION 182
Suspicious activity triggered a suspicious transaction report filing on a company that holds an account at a large commercial bank. Investigations revealed that a member of the bank’s Board of Directors is the major shareholder of the company. Further review revealed the bank had no reasonable explanation for the activity, but could not confirm if criminal activity occurred. Which of the following is the next best course of action for the compliance officer?

QUESTION 183
The compliance officer for a bank is reviewing on-boarding documents for a new business account for a domestic corporation. The officer is unable to verify the identity of the beneficial owners of the company. Only information on the nominee owners was provided, and none of the listed addresses are local. The purpose of the business and future expected activity were disclosed to include cash letters, money orders and international remittance transfers.
Which red flag identifies a heightened money laundering risk?

QUESTION 184
Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

QUESTION 185
Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)

QUESTION 186
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?