CAMS最も有効な質問と解答で勉強

What types of things should an institution incorporate in it AML policies and procedures? Choose 3 answers

• A. Periodic audits, to be performed by independent staff at least once a year
• B. Ability to incorporate relevant legislative and regulatory AML changes
• C. Review of the AML policy by the Board of Directors
• D. On-going training, as well as initial training of new employees

According to the USA PATRIOT Act, under which condition would US financial institutions (Fls) maintain correspondent accounts for foreign shell banks?

• A. US Fls can open correspondent bank accounts for foreign shell banks but only in certain countries.
• B. US Fls must be certified by the Financial Action Task Force to maintain correspondent accounts for foreign shell banks.
• C. US Fls must undertake a rigorous, risk-based approval process to open correspondent bank accounts for foreign shell banks.
• D. US Fls cannot maintain correspondent bank accounts for foreign shell banks.

An agent of a wealthy individual residing in Country A, which is on the EU list of high-risk third jurisdictions, approaches a notary in Country B, which is in the EU. The agent wants to complete a disposal of assets recently acquired at auction by the wealthy individual through an offshore company. The agent also has a power of attorney to act on behalf of the offshore company issued by a respectable law firm from Country C, which is also in the EU. The agent asks the notary to proceed with the disposal as quickly as possible without paying any specific attention to related costs or taxes to be paid as a result of this transaction. The notary notices the intended transfer price is significantly lower than the one recorded at auction, but the agent does not want to discuss this matter and claims that it is not covered by the power of attorney.
Which red flags should the notary consider? (Select Two)

• A. The power of attorney was issued by a law firm in a different EU country from where the transaction took place.
• B. The agent requested a disposal of assets at a lower price than recently acquired.
• C. The agent acted on behalf of an individual residing in a country which is on the EU's list of high-risk jurisdictions
• D. The assets acquired through an auction were put in the name of an offshore company

Which activities would be considered money laundering red flags when reviewing the business operations of a money services business (MSB)? (Select Two.)

• A. Cash-intensive businesses, such as convenience stores or restaurants, making large cash deposits
• B. A customer being hesitant to provide beneficiary name or address information when sending international wire transfers
• C. A customer completing frequent small-dollar international money transfers to their native country
• D. A customer using multiple accounts under different names to conduct transactions
• E. A customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency under the reporting threshold

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

• A. Keep policies and procedures updated
• B. Track the movement of the money
• C. Know the customer
• D. Keep all the documentation