Free ACAMS CAMS Practice Exam with Questions & Answers | Set: 2

Receiving securities into an existing brokerage account following the death of a spouse

Allowing fixed income securities to mature

Using brokerage accounts like deposit accounts

Engaging in transactions involving nominees or third parties

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.

red notice

white list

yellow notice

grey list

Raise transaction monitoring thresholds for PEP accounts in automated systems to account for higher transaction values and complex legal vehicles and financial structures

Require approval from the prudential regulator for entering into or continuing the business relationship

Subscribe to commercial databases to assist in the detection of PEPs

Establish processes to understand the PEP's source of wealth and the source of funds, and to refresh that understanding on a regular basis

When using network analysis data to fight money laundering and financial crime, data protection and privacy can be disregarded because fighting crime takes precedent

Network analysis tools are an efficient means of generating relevant results because they only need a limited amount of data and computation power and artificial intelligence (Al) allows less-skilled people to quickly learn to use these systems

When using artificial intelligence (Al) with network analysis tools, it must be ensured that the algorithms used are not biased towards social criteria, such as race, gender, or religion

Network analysis allows for the identification of individuals or entities in a network by analyzing connections or links between them and can be used to study a wide range of systems, such as social or transportation networks

Analyzing relationships between individuals in a social network allows for the identification of hierarchies, the detection of behaviors and geographical movements, or an understanding of how groups are organized

A relationship manager advocates for overriding the results of the company's client risk rating model that resulted in a client's high-risk rating.

An If employee shares information about a firm's risk management framework with employees of other firms at an industry convention.

An investigator does not complete the automated transaction monitoring system alerts assigned to them before the time required by company procedures.

A relationship manager makes an exception to company policy and proceeds with onboarding a customer without documenting a passport for customer identification

E-commerce platforms exploited to move criminal proceeds

Use of stolen bank cards for online purchases

E-commerce platforms susceptible to fraud schemes

E-commerce platforms used as a front for illicit transactions

E-commerce platforms encouraging unregulated peer-to-peer lending

Use of foreign currency to mask criminal proceeds

Challenge-response

Fingerprint

Security token

Passphrase

Obtaining prior senior manager approval for all related transactions

Understanding the purpose of the business relationship

Performing adverse media searches on the customer

Identifying and verifying the customer's identity

protect the rights of the citizens of the state target against their own government and improve financial stability in the region.

indicate that the use of military force is likely unless the state or non-state target complies with the government's

interests encourage non-governmental organizations to increase the provision of humanitarian and charitable aid to the target

alter the behavior of the state or non-state target that threatens the interests of that government or violates international norms