ACAMS CAMS RELIABLE EXAM VOUCHER | DUMPS CAMS DISCOUNT

ACAMS CAMS Reliable Exam Voucher | Dumps CAMS Discount

ACAMS CAMS Reliable Exam Voucher | Dumps CAMS Discount

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We do not offer Certified Anti-Money Laundering Specialists (CAMS) PDF questions only. Customizable web-based and desktop ACAMS CAMS practice exams are also available at GuideTorrent. You can take our Certified Anti-Money Laundering Specialists (CAMS) practice tests multiple times. These CAMS tests keep a record of your every attempt so you can review and overcome mistakes.

The CAMS certification is owned and administered 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 ACAMS CAMS Certification Exam is recognized globally as the gold standard for AML certifications and is highly respected by regulators, law enforcement agencies, and financial institutions.

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Dumps ACAMS CAMS Discount - CAMS Real Questions

Experts at GuideTorrent have also prepared ACAMS CAMS practice exam software for your self-assessment. This is especially handy for preparation and revision. You will be provided with an examination environment and you will be presented with actual exam ACAMS CAMS Exam Questions. This sort of preparation method enhances your knowledge which is crucial to excelling in the actual ACAMS CAMS certification exam.

To earn the CAMS certification, candidates must pass a four-hour, 120-question multiple-choice exam that tests their knowledge of AML regulations, best practices, and global trends. CAMS exam is administered in over 190 countries and is available in several languages. Candidates who successfully pass the exam are awarded the CAMS Certification, which is valid for three years. To maintain their certification, CAMS professionals must complete 60 continuing education credits every three years.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q563-Q568):

NEW QUESTION # 563
Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

  • A. Maintain account records for at least five years after the request expires
  • B. Stop filing suspicious transaction reports because law enforcement will be monitoring the account
  • C. File a suspicious transaction report on the account owner(s)
  • D. Ask for a written request from the law enforcement agency that defines the duration

Answer: A,D

Explanation:
According to the Anti-Money Laundering Specialist (the 6th edition) study guide, when a financial institution receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity, it should take the following two steps:
Maintain account records for at least five years after the request expires. This is to ensure that the financial institution can provide evidence of its compliance with the law enforcement request and the applicable anti-money laundering regulations. The five-year retention period is based on the international standard set by the Financial Action Task Force (FATF) and adopted by many jurisdictions12.
Ask for a written request from the law enforcement agency that defines the duration. This is to protect the financial institution from potential liability and to clarify the scope and purpose of the law enforcement request. The written request should specify the time period for which the account should remain open, the reason for the request, the contact information of the law enforcement officer, and the legal authority for the request34.
Reference:
Anti-Money Laundering Specialist (the 6th edition) study guide, page 57 FATF Recommendation 11, paragraph 2 Anti-Money Laundering Specialist (the 6th edition) study guide, page 58 Money Laundering website, article on "Law Enforcement Requests to Keep Accounts Open"
https://www.fincen.gov/resources/statutes-regulations/guidance/requests-law-enforcement-financial-institutions-maintain


NEW QUESTION # 564
What facilitates law enforcement agent obtaining evidence from authorities in a foreign country relating to criminal activity?

  • A. MLAT Executive Agreement
  • B. PatriotAct Communications System
  • C. The World Wide Network of Information Sharing
  • D. Mutual Legal Assistance Treaties (MLAT)

Answer: D


NEW QUESTION # 565
A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.
Is the bank's existing anti-money laundering training adequate to be delivered to employee of the newly acquired credit card business?

  • A. No, anti-money laundering training needs to be tailored and focused on the risks specific to the business.
  • B. No, anti-money laundering training needs to be delivered face-to-face for credit card businesses.
  • C. Yes, the existing training covers the anti-money laundering regulations that the bank is required to follow.
  • D. Yes, the existing training covers the bank's policies, procedures, and processes.

Answer: C


NEW QUESTION # 566
Transfers of money over the last 6 months to a corporation in a jurisdiction with strict secrecy laws triggered an alert. Which of the following should cause the most suspicion of money laundering?

  • A. The corporation director is a European citizen.
  • B. The company has bearer shares.
  • C. The jurisdiction is a known tax haven.
  • D. No financial statements have been filed for 3 years.

Answer: B

Explanation:
According to the CAMS study guide, chapter 4, page 851, bearer shares are shares that do not have the name of the owner registered on them, and the ownership is transferred by the physical delivery of the share certificate. This means that the true beneficial owner of the company can be hidden or changed without any record or notification. Bearer shares are considered a high-risk factor for money laundering and terrorist financing, as they can facilitate the movement and concealment of illicit funds through anonymous corporate vehicles. Therefore, the company having bearer shares should cause the most suspicion of money laundering among the options given.
The other options are not necessarily indicative of money laundering, although they may have some risk implications depending on the context and the customer profile. Option A, the jurisdiction being a known tax haven, may suggest that the company is seeking to avoid or minimize taxes, but this does not imply that the company is involved in money laundering, as there may be legitimate tax planning or optimization purposes. Option C, the corporation director being a European citizen, may indicate that the company has some cross-border or international activities, but this does not imply that the company is involved in money laundering, as there may be valid business or personal reasons for the director's nationality. Option D, no financial statements being filed for 3 years, may suggest that the company is not complying with the accounting or reporting standards of the jurisdiction, but this does not imply that the company is involved in money laundering, as there may be other explanations or mitigating factors for the lack of financial statements.
Reference:
1: ACAMS CAMS Study Guide - 6th Edition, Chapter 4, page 85: https://www.acams.org/wp-content/uploads/2019/09/ACAMS-CAMS-Study-Guide-6th-Edition-Chapter-4.pdf


NEW QUESTION # 567
The new compliance officer has reviewed the bank's anti-money laundering training program. The program consists of online training for all new employees within 30 days of hire date and annual refresher training to all employees. In addition, there is specialized training for areas that deal with higher risk products and customers.
Over the last year, there have been no regulatory changes and no new products or services have been introduced. The compliance officer wants to propose to the board of directors that the annual refresher training is still current and can be delivered unchanged to all employees.
Which two critical pieces of information could be missed by taking this approach? (Choose two.)

  • A. Any new trends, developments, or risks
  • B. Changes to internal policies, procedures, and processes
  • C. Links to enforcement actions identifying violations in other financial institutions
  • D. Results of the previous year's risk assessment

Answer: B,D


NEW QUESTION # 568
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