ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 10 • ExamPrepare

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Question 55

Which of the following constitute increased financial crime risk factors in insurance products? (Select Two.)

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How is money laundering conducted on online video game platforms? (Select Two.)

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Why do criminals like to use trusts and company service providers to facilitate money laundering and related financial crimes? (Select Four.)

Trusts are technically legal to set up and have a long history of use by wealthy individuals that dates back to medieval Europe.
The setup of a trust makes it easy for criminals to conceal or disguise the ultimate beneficial ownership.
Trusts and service providers are easily accessible and flourishing in some financial and offshore centers.
The beneficiary and the persons who control a trust are more difficult to identify and verify than a normal bank account held by a natural person or corporation.
The purpose and process of setting up a trust are often opaque to the public and only known to the settlor, trustees, and beneficiaries.
Company service providers usually provide nominated director services that can be easily exploited by criminals to conceal who has control over those companies.

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Which process can streamline the customer identification process and prevent illicit actors from gaining access to financial services?

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In addition to the fundamentals of money laundering and record-keeping requirements, AML training for front-line staff should include:

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Cryptocurrency-related technologies that can be exploited by money launderers include: (Select Two.)

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