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CAMS Exam Dumps - Certified Anti-Money Laundering Specialist (the 6th edition)

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Question # 153

In its paper. Customer Due Diligence for Banks, the Basel Committee on Banking Supervision identified which risks on banking institutions as a result of an inadequate KYC program?

A.

Outsourcing, legal, concentration, reputational

B.

Security, information, local, operational

C.

Legal, reputational, operational, concentration

D.

Credit, operational, market, concentration

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Question # 154

Which of the followingscenarios warrants enhanced due diligence (EDD)?(Select Three.)

A.

The former personal secretary to the minister of transport in a low-risk country 25 years ago opening a bank account at a bank in a neighboring low-risk country.

B.

An existing local league footballer trying to open a bank account with a bank in their local jurisdiction.

C.

A bank located in a higher-risk country trying to establish a correspondent-respondent banking relationship with a bank in a lower-risk country.

D.

An individual with a current bank account who resides in one country becoming the ambassador of another country.

E.

The current prime minister of a country trying to open a bank account in another country.

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Question # 155

Which regulation regarding data privacy has to be considered while carrying out a financial crime investigation?

A.

General Data Protection Regulation

B.

European Enforcement Order

C.

Securities Financing Transactions Regulation

D.

Rome II Regulation

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Question # 156

What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

A.

The country or location where the customer is from or does business

B.

The type and size of the business the customer runs

C.

The legal structure of the customer’s business

D.

The previous financial institutions where the customer has banked

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Question # 157

Which statement about U.S. Specified Unlawful Activities (SUA) is true?

A.

At least one SUA must be proven in order to pursue a money laundering conviction

B.

SUAs are generally limited to a small sub-set of crimes

C.

In order to secure a conviction, the defendant must be proven to have known the precise nature of the source of funds

D.

SUAs are limited to crimes that occur within the borders of the U.S. and its territories and possessions

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Question # 158

A law enforcement agent calls a bank anti-money laundering investigator for supporting information about a

suspicious transaction report that was filed the previous month.

How should the investigator respond?

A.

Refer the agent to the bank’s compliance officer

B.

Send the information to an address provided by the agent

C.

Share the requested information during the telephone call

D.

Require a search warrant before releasing the information

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Question # 159

Whichpractices should financial institutions (FIs) adoptwhen determining thetimeline for completing an internal AML investigationandfiling a Suspicious Activity Report (SAR) to the Financial Intelligence Unit (FIU)?

A.

Follow local regulatory requirementsfor reporting periods.

B.

Report the SAR within 30 days.

C.

Use a matrix based on the complexityof an investigation.

D.

Act on the professional judgmentof a senior manager.

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Question # 160

According to recommendations from the Financial Action Task Force, what role does a country's financial intelligence unit play in safeguarding against money laundering?

A.

Monitors monthly public statistics on the economy

B.

Generates currency transaction reports to send to the central bank

C.

Assists the pursuit of criminal activity by producing suspicious activity reports

D.

Analyzes data on suspicious activity reports

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