ACAMS CAMS : Certified Anti-Money Laundering Specialists (the 6th edition)

Which activity associated with new or developing technologies does the Financial Action Task Force recommend financial institutions pay special attention to?

• A. Complex or unusually large transactions
• B. Non-face-to-face business relationships or transactions
• C. Financial intermediaries performing transactions for customers
• D. High volumes of cash transactions

AnAML/CFT unit often compiles information about customer activity and product usagethat might be of interest toother parts of the organization.
Before allowing the unit to communicate such information internally, the organization mustreview:

• A. The organization'sAML compliance policiesto ensure that customer data can be easily shared internally and internationally.
• B. Therisk rating of the customersto avoid sharing data relating to higher-risk customers.
• C. Applicable data privacy lawsin relevant jurisdictions and the organization's data security and privacy policies for any limitations.
• D. Enterprise-wide risk assessmentsand the employee handbook for any limitations on sharing commercially sensitive customer data.

In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?

• A. Identifying how customers are using products
• B. Proving to the Board of Directors that the FIU is doing its job
• C. Meeting mandatory regulatory requirements for system implementation
• D. Highlighting the skills of the system analysts

A long-term client of an insurance company makes changes to a policy that require payment of an additional lump sum. The amount payable is high, though within the client's means based on the KYC information collected. The payment is made via a company in another jurisdiction that is known to have lax AML controls. Which indicator of suspicious activity is present?

• A. The payment was made via a company that appears to be owned and controlled by the client being insured.
• B. The payment was made via a company in a jurisdiction known to have lax AML controls.
• C. A long-term client wants a change to a policy that is already in force.
• D. The additional premium payable appears to be within the client's means based on the KYC information collected.

An anti-money laundering specialist has been asked to establish a compliance program to detect and prevent money laundering and terrorist financing. Which of the following should the anti-money laundering specialist consider in developing the program?
1. Funds for money laundering and terrorist financing are derived from illegal sources.
2. Related practices are used to conceal the nature of the funds.
3. The source and disposition of funds are similar.
4. Similar techniques are used to move funds.

• A. 1 and 2 only
• B. 2 and 4 only
• C. 3 and 4 only
• D. 1 and 3 only