2022 CAMS exam torrent CAMS Study Guide [Q113-Q134]

NEW QUESTION 113
Bank A is located in Country A.
A wire transfer from Bank B located in Country B is processes by Bank A,where the funds are being moved to a customer at Bank C located in Country C.
The wire transfer isdeemed suspicious by Bank A.

NEW QUESTION 114
Why do trusts established in certain offshore jurisdictions make good vehicles to launder money?

NEW QUESTION 115
Which three areas do FATF’s 40 recommendations cover? Choose 3 answers

NEW QUESTION 116
In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers

NEW QUESTION 117
Which three elements should be considered in an institution’s enhanced due diligence process to assure itself that it has secured sufficient understanding of its higher risk respondent bank customers according to the Wolfsberg Principles on Correspondent Banking?

NEW QUESTION 118
According to Basel Committee on Banking Supervision’s Customer Due Diligence for Banks, which of the following should provide an evaluation of a bank’s policies and procedures independent from its management?

NEW QUESTION 119
What is a tool governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction?

NEW QUESTION 120
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

NEW QUESTION 121
Why is the Mutual Legal Assistance Treaty (MLAT) a gateway for international cooperation?

NEW QUESTION 122
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.
What are two red flags that may indicate money laundering? (Choose two.)

NEW QUESTION 123
Which three stages of money laundering are on-line banking vulnerable to?

NEW QUESTION 124
What should a compliance officer provide to facilitate board understanding of suspicious activity reported by an institution?

NEW QUESTION 125
Which is the main objective when a financial institution (FI) conducts an investigation?

NEW QUESTION 126
When should the anti-money laundering risk assessment be updated?

NEW QUESTION 127
An institution is about to release a new peer to peer (P2P) funds transfer product to provide much needed remittance services to an under-banked population segment in the country.
The service allows customers to transfer funds through a mobile banking application to individuals worldwide entering only a name and mobile number. The new service charges less than comparable market solutions and offers real time transfer of funds. The customer onboarding process is conducted at branch locations with identity verification.
Which three present the highest anti-money laundering or sanctions risk and will require controls prior to launch? (Choose three.)

NEW QUESTION 128
What facilitates law enforcement agent obtaining evidence from authorities in a foreign country relating to criminal activity?

NEW QUESTION 129
Which method is indicative of potential money laundering and terrorist financing activity?

NEW QUESTION 130
The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A.
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B.
Each cash transaction always totals exactly $8,000.
What should alert the agent to possible money laundering activity by the two customers?

NEW QUESTION 131
A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities. The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances. The volume of activity flowing through the business account has doubled in the past 3 months. An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity. This internal investigation did not provide an explanation for the increased activity1. Which of the following should the anti-money laundering specialist recommend to the internal investigator?

NEW QUESTION 132
A compliance officer provides an overview of the bank’s anti-money laundering program to a group of new tellers during employee orientation.
Which training element should be delivered to this audience?

NEW QUESTION 133
A commission rogatory would be used in which gateway to obtain information from another country?

NEW QUESTION 134
Which of the following is the most common risk with a Personal or Private Investment Company (PIC)?