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The Certified Anti-Money Laundering Specialists (CAMS) certification exam is a globally recognized certification for professionals in the anti-money laundering (AML) and financial crime prevention industry. It is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), which is the largest international membership organization dedicated to enhancing the knowledge and skills of AML professionals. The CAMS certification exam is designed to test the candidate’s knowledge of AML regulations, best practices, and procedures, as well as their ability to identify and prevent money laundering activities.

The Certified Anti-Money Laundering Specialists (CAMS) certification is a globally recognized credential for professionals working in the anti-money laundering (AML) field. The CAMS Exam is designed to test a candidate's knowledge of AML regulations, compliance procedures, and best practices in detecting and preventing money laundering activities. Certified Anti-Money Laundering Specialists certification is highly valued by employers in the financial services industry, including banks, insurance companies, and investment firms.

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After passing the Certified Anti-Money Laundering Specialists certification exam the successful candidates can gain several personal and professional benefits. Are you ready to gain all these personal and professional benefits? Are you looking for a simple and smart way for fast CAMS exam preparation? If your answer is yes then you do not need to worry about it. You just need to visit TestValid and explore the top features of TestValid CAMS Dumps Questions. We guarantee you that with the TestValid CAMS exam questions, you will get everything that you need for fast and successful CAMS exam preparation.

ACAMS CAMS Certification provides professionals with several benefits, including enhanced credibility, marketability, and earning potential. Certified professionals are recognized as experts in the field of AML/CFT and are highly sought after by employers. Certified Anti-Money Laundering Specialists certification also provides professionals with access to a network of peers and resources, including continuing education programs and professional development opportunities.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q797-Q802):

NEW QUESTION # 797
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?

  • A. Past check fraud losses incurred by the financial institution
  • B. Large cash transaction reporting procedures
  • C. Results of recent risk assessments
  • D. The financial institution's surprise cash audit policy

Answer: B


NEW QUESTION # 798
Which method is indicative of potential money laundering and terrorist financing activity?

  • A. Client converts 500 Euro in mixed denomination notes to small denomination U.S. bills in a single transaction
  • B. An unknown client purchases multiple monetary instruments for one person during the course of one day
  • C. An unknown client pays $1,000 in cash for an urgent transfer to a high risk country
  • D. A commercial client in the export business regularly receives wire transfers from high risk countries

Answer: C

Explanation:
This method is indicative of potential money laundering and terrorist financing activity because it involves several red flags, such as:
The use of cash, which is anonymous and difficult to trace
The urgency of the transfer, which may suggest a need to move funds quickly before they are detected The destination of the transfer, which may be a high risk country with weak anti-money laundering (AML) and counter-terrorism financing (CTF) controls or sanctions The lack of information about the client and the beneficiary, which may indicate a lack of due diligence or customer identification These factors may indicate that the client is trying to conceal the source, ownership, or purpose of the funds, or that the funds are related to illicit activities such as money laundering or terrorist financing.
References:
ACAMS CAMS Certification Video Training Course1, Module 2: Money Laundering Risks and Methods, Lesson 2.2: Money Laundering Methods ACAMS CAMS Study Guide, 6th Edition2, Chapter 2: Money Laundering Risks and Methods, Section
2.2: Money Laundering Methods, pp. 35-36
ACAMS CAMS Examination Preparation Seminar, 6th Edition3, Chapter 2: Money Laundering Risks and Methods, Section 2.2: Money Laundering Methods, Slide 14


NEW QUESTION # 799
A director of a financial institution was convicted of laundering money as part of a Ponzi scheme and terminated. As a result of an internal investigation evidence proved that an employee assisted in the illegal activity.
Which action should the institution take?

  • A. Discipline the employee and inform local authorities
  • B. Discipline the employee with no further action
  • C. Since the employee was not charged, no further action is required
  • D. Require all employees to complete additional anti-money laundering training

Answer: A

Explanation:
If an employee of a financial institution is found to have assisted in money laundering or any other criminal activity, the institution should take appropriate disciplinary action and report the employee to the relevant authorities. This is not only a legal obligation, but also a sound compliance practice to protect the institution's reputation and integrity. Disciplining the employee without informing the authorities would be insufficient and potentially expose the institution to further legal risks. Ignoring the employee's involvement or requiring additional training for all employees would be ineffective and inappropriate responses.
:
ACAMS CAMS Certification Package - 6th Edition, Chapter 5: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), pp. 121-1221 ACAMS CAMS Certification Package - 6th Edition, Chapter 6: AML Compliance Program, pp. 143-1441 ACAMS CAMS Certification Video Training Course, Module 5: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), Lesson 5.2: International Standards and Best Practices2 ACAMS CAMS Certification Video Training Course, Module 6: AML Compliance Program, Lesson 6.4:
Internal Controls2


NEW QUESTION # 800
the Financing of Terrorism (CFT)]
An accounting firm opened an account at a bank that is intended to be used as the operational account for the business. After a few months, a comprehensive review of the account was triggered due to unusual activity on the account. Which most likely triggered the review?

  • A. The account receives international wires from companies in the Middle East where the accounting firm has several branches.
  • B. The account sends monthly donations to several charities that operate in the same communities as the accounting firm.
  • C. The account receives several payments a day from multiple customers who operate in different industries.
  • D. The account receives international payments that are substantially higher than other fees they typically receive.

Answer: D

Explanation:
this activity is unusual and inconsistent with the expected behavior of an accounting firm's operational account. The account should normally receive fees from clients that are proportional to the services rendered and reflect the market rates. Receiving international payments that are substantially higher than other fees could indicate that the account is being used to launder money or finance terrorism by disguising illicit funds as legitimate income. This could trigger a red flag for the bank and prompt a comprehensive review of the account.
:
ACAMS Study Guide 6th Edition, Chapter 1, Section 1.6, page 24: "Methods to launder money used in banks and other deposit taking institutions".
ExamTopics, Question 446: "An accounting firm opened an account at a bank that is intended to be used as the operational account for the business. After a few months, a comprehensive review of the account was triggered due to unusual activity on the account. Which most likely triggered the review?"


NEW QUESTION # 801
When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:

  • A. address the shortcomings identified in the report and agree to post-assessment monitoring by FATF.
  • B. pay a penalty for the delay in adopting the FATF 40 recommendations accurately and timely.
  • C. prepare a report to defend its position against the FATF secretariat, which is comprised of the assessors.
  • D. request exception from the relevant FATF-style regional body by submitting a report with the reasons.

Answer: A

Explanation:
According to the Anti-Money Laundering Specialist (the 6th edition) resources, the FATF mutual evaluation process is a peer review mechanism that assesses the level of compliance of a country with the FATF 40 recommendations and the effectiveness of its anti-money laundering and counter-terrorist financing system. The mutual evaluation report identifies the strengths and weaknesses of the assessed country and provides recommendations for improvement. The assessed country needs to address the shortcomings identified in the report and agree to post-assessment monitoring by FATF, which involves regular follow-up reports and actions to remedy the deficiencies. The other options are not correct, as they do not reflect the FATF mutual evaluation process or the obligations of the assessed country.
Reference:
: ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 4: International Standards and Global Initiatives, page 97.
: FATF, Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems, February 2013, updated October 2019, 1.
: FATF, Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations, October 2019, 2.


NEW QUESTION # 802
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