ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 16 • ExamPrepare

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Question 91

Which factors should be prioritized when choosing an anti-financial crime (AFC) tool for an organization? (Select Two.)

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Which of the following best describes the similarities or differences in structure and oversight between the EU and US governance frameworks?

The Anti-Money Laundering Council and Parliament prescribe AML laws in the EU. Financial Crimes Enforcement Network (FinCEN) prescribes AML laws in the US.
Both EU states and the US serve as primary governance bodies for AML laws.
EU states institute their own laws to comply with AML expectations while US states adhere to federal laws.
The EU adheres to the expectations prescribed by the Financial Action Task Force (FATF). The US adheres more closely to the expectations prescribed by the Egmont Group and Wolfsberg Group.

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Why is it important to consider geographical risk when assessing a virtual asset service provider (VASP) or crypto exchange? (Select Two.)

VASPs and crypto exchanges are always located and registered in high-risk jurisdictions.
Customer funds originate from or are sent to an exchange that is not necessarily where the exchange is registered and operated.
A sophisticated criminal typically prefers to use VASPs located near their physical location.
VASPs can be located in a country where local regulations are considered to be inadequate.

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Artificial intelligence can help in the KYC process by improving efficiency in: (Select Three.)

comparing customer photos to verify resemblance with government IDs, such as passports.
assessing the trustworthiness of customer profiles based on subjective factors, such as tone of communication or behavior during onboarding interviews.
predicting future customer behavior with high accuracy, ensuring that only low-risk customers pass onboarding.
checking that customer names, addresses, birth dates, and other personal information match across data sources.
detecting forged or manipulated documents by analyzing fonts, logos, security features, etc.

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The specialized services provided by an accountant to a criminal organization can include: (Select Two.)

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Which of the following are the cons and challenges of AI and ML integration in ongoing controls? (Select Three.)

High initial investment required for AI and ML implementation
Challenges ensuring data quality and quantity for effective models
Difficulty in hiring and retaining a skilled workforce for managing AI-driven controls
The scalability of AI systems for managing large volumes of compliance data
The inability of AI systems to scale operations across multiple compliance jurisdictions

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