Participation in the ACAMS community is a helpful way to discuss CAMS exam topics with other ACAMS CAMS exam applicants and experts. The official website of the CAMS exam has other different learning resources. You can choose any of the courses available that are suitable to you at the official website of the ACAMS CAMS test. Find official ACAMS books for preparation or buy training material available at the official website of the CAMS certification exam.
To be eligible for the ACAMS CAMS Certification Exam, candidates must have at least 40 hours of AML/CFT training or two years of relevant work experience in the field. Candidates must also have a high school diploma or equivalent degree. The certification is open to professionals from a wide range of industries, including banking, insurance, law enforcement, and regulatory agencies.
The CAMS certification is ideal for AML professionals, regulatory and law enforcement personnel, risk management professionals, and audit and compliance specialists. It is essential for those who want to enhance their career prospects in the AML field or want to demonstrate their expertise and knowledge of the AML compliance regime to their employers or clients.
The CAMS certification is designed for professionals who work in anti-money laundering (AML), counter-terrorism financing (CTF), and financial crime prevention. The exam covers a wide range of topics including AML regulations, AML compliance programs, risk assessment, customer due diligence, transaction monitoring, and sanctions screening. The exam also tests the candidate's ability to analyze complex financial crime scenarios and to apply the latest AML/CTF techniques and technologies to prevent and detect financial crime.
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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q73-Q78):NEW QUESTION # 73
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
Answer: B,C,D
Explanation:
Explanation
Expanded coverage of industries :
* casinos when customers engage in financial transactions equal to or above a designated threshold.
* real estate agents when they are involved in transactions for clients concerning buying and selling properties
* dealers in precious metals and stones when they engage in any cash transaction with a customer at or above a designated threshold
* lawyers, notaries and independent legal professionals and accountants when they prepare or carry out transactions for clients concerning buying and selling real estate; managing client money, securities or other assets; establishing or managing bank, savings or securities accounts; organizing contributions for the creation or management of companies; creating, operating or managing legal persons or arrangements and buying and selling businesses
* trust and company service providers when they prepare or carry out transactions for a client concerning certain activities
NEW QUESTION # 74
A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches m different locations. The customer receives funds from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The customer makes frequent transfers among the accounts and prefers to manage the accounts separately. What should the institution do to mitigate the risk associated with these accounts?
Answer: B
NEW QUESTION # 75
When implementing a risk-based approach related to casinos, which risks are related to the customer as an individual? (Choose two.)
Answer: A,B
NEW QUESTION # 76
A bank's transaction surveillance system triggers an alert for a deposit of 250.000 USO into a client's account.
According to the bank's KYC information, the client works for a financial advisory firm, and earns approximately 100,000 USD per year. Which actions should be taken? (Select Three.) File the suspicious transaction immediately to the financial intelligence unit.
Answer: A,B,C
Explanation:
Explanation
According to the Certified Anti-Money Laundering Specialist (CAMS) Manual , 6th edition, if a bank's transaction surveillance system triggers an alert for a deposit of 250.000 USD into a client's account, the bank should take the following actions:
* Request information and documentation from the client on the background of the transaction (CAMS Manual, 6th edition, page 46).
* Contact the client advisor to learn if he has any insight on the transaction background (CAMS Manual,
6th edition, page 47).
* Review the transaction background in the bank's transaction platform (CAMS Manual, 6th edition, page
47).
Discarding the alert as a false positive hit and reviewing the alert if the deposit is made in cash should not be done.
The bank should request additional information and documentation from the client to better understand the nature of the transaction. Additionally, the bank should reach out to the client advisor to learn if they have any insight on the transaction background. Finally, the bank should review the transaction background in the bank's transaction platform to determine if any additional alerts or anomalies are present. (CAMS Manual, 6th Edition, Pages 117-118)
NEW QUESTION # 77
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?
Answer: A
Explanation:
Reference: https://en.wikipedia.org/wiki/Egmont_Group_of_Financial_Intelligence_Units
NEW QUESTION # 78
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