CAMS Exam Dumps - ACAMS AML Certifications Questions and Answers

Low thresholds for transactions

Frequent use of cash

Cross-border transactions

Weak KYC policies and procedures

difficulty in tracking the originator, recipient, and source of transactions.

remote verification of identity by third-party program managers.

heavy usage by senior political figures.

informal networks used for cross-border transactions outside of the formal banking system.

heightened risks of returned transactions.

Mandatory participation in all regulatory inspections

Mandatory attendance and review of alt financial crime trainings

Setting clear criteria for escalations to senior management

Setting tone from the top

The account activity includes deposit activity into both savings and checking accounts

The account activity includes incoming funds transfers at irregular intervals from small businesses located in New York

The account activity includes deposits made in multiple branches around New York City into the same account.

The account activity includes frequent purchases of tickets to industry conferences and other events.

A court order requests the bank to disclose the SAR subject to obtaining agreement from the legal team

A customer asks about potential reporting to the local Financial Intelligence Unit (Fill)

An external consultant inquires about the details of the SAR

A third-country police directly inquires about the customer.

Permanent US resident aliens regardless of location

Merchants that offer US-origin goods for sale regardless of location

Non-US financial institutions that offer accounts in USD regardless of location

US citizens regardless of location

US incorporated entities and their foreign branches

Media searches reveal a report that the customer was accused of misconduct three years ago.

The EU bank considers the origin and destination countries Involved in the transactions to be high-risk.

The customer's activity includes multiple cross-border transactions involving various counterparties.

The EU bank received no originator or beneficiary information for the wire transfers.

The customer specializes in the import and export of petrochemical products.

Inform local LEA and regulator of the request for awareness

Close the client's accounts immediately to avoid any undue risk

Review the client's activity, determine if suspicious activity exists, and report accordingly

Advise the LEA that the government needs to be contacted for extradition

Comply immediately with the foreign jurisdiction and turn over all client information

The payment of company secretarial retainer fees to a foreign company in a tax-efficient jurisdiction

The payment of virtual offices services overseas

Inter-company loans from the holding company to the subsidiary company to finance the shipment of machinery

The payment of consultancy fees to unrelated companies and service providers established in a foreign jurisdiction

Helping overcome data protection and information sharing limitations

Enhancing the quality of reporting and additional informational input

Helping to alleviate the financial cost burden on law enforcement

Helping to design common approaches and identify desired deliverables

Offering flexibility, agility, and opportunities to adjust to the ML/TF threat environment