Latest Verified & Correct ACAMS CAMS Questions & Answers Daily Updated [Q173-Q196]

QUESTION 173
What is the result of an increased awareness of the potential for gatekeepers to assist in money laundering in recent years?

QUESTION 174
A bank employee reviews wire transactions looking for indications of wire stripping.
Which two actions should the employee take to complete appropriate bank procedures? (Choose two.)

QUESTION 175
Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

QUESTION 176
What are two legal risks of having inadequate privacy policies and procedures? (Choose two.)

QUESTION 177
Why do trusts established in certain offshore jurisdictions make good vehicles to launder money?

QUESTION 178
Which are common types of economic sanctions? (Choose three.)

QUESTION 179
Which is a key aspect in the FATF Recommendations that best describes the essential foundation for allocating resources in AML/CFT regimes for countries and financial institutions (FIs)?

QUESTION 180
You are building an Azure Analysis Services cube for your AI deployment.
The source data for the cube is located in an on premises network in a Microsoft SQL Server database.
You need to ensure that the Azure Analysis Services service can access the source data.
What should you deploy to your Azure subscription?

QUESTION 181
Which event occurs most frequently in money laundering in the insurance industry?

QUESTION 182
Which information should be gathered as part of enhanced due diligence (EDD) for a high-risk customer?

QUESTION 183
An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier in the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction.
While the Relationship Manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering.
The Relationship Manager is a friend of the anti-money laundering specialist. Which of the following should the anti-money laundering officer do first?

QUESTION 184
A bank teller receives a written request from a police officer to review a previous customer’s account on a pre-populated form with the officer’s official letter head. The officer suspects the previous customer is engaging in smurfing. Which action should the bank teller perform?

QUESTION 185
An auction house dealing in fine art and antiques sells a well-known painting at a price of $12 million to an agent bidding for a group of local investors. The same painting sold ten years prior at auction for $5 million.
The auction house receives payment for the painting via wire transfer from an account maintained in an offshore jurisdiction by the investor group. No beneficial ownership information is available for the account.
What are the two money laundering red flags? (Choose two.)

QUESTION 186
Which statement about U.S. Specified Unlawful Activities (SUA) is true?

QUESTION 187
According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professions include

QUESTION 188
Which three should real estate agents include in the criteria to assess their company’s potential money laundering and terrorist financing risks when implementing a reasonable risk-based approach?

QUESTION 189
In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions.
Which three businesses and/or professions are covered? Choose 3 answers

QUESTION 190
You need to meet the testing requirements for the data scientists.
Which three actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

QUESTION 191
How can a financial institution verify the nature and purpose of a business and its legitimacy?

QUESTION 192
An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?

QUESTION 193
In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

QUESTION 194
You need to build a solution to monitor Twitter. The solution must meet the following requirements:
* Send an email message to the marketing department when negative Twitter messages are detected.
* Run sentiment analysis on Twitter messages that mention specific tags.
* Use the least amount of custom code possible.
Which two services should you include in the solution? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

QUESTION 195
How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds?

QUESTION 196
How can violations of anti-money laundering laws be a risk to individuals?