ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 27 • ExamPrepare

308 questions in this view

Page 27 of 52

Question 157

Which scenario best justifies why a customer’s account might be closed by a financial institution?

The account has transactions that triggered multiple suspicious activity reports.
The account shows periodic fixed amount remittances for tuition fees.
The customer uses a shipping company dealing with specially designated nationals.
The customer is the object of a civil subpoena.

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Question 158

A foreign bank maintains a correspondent account in the US. According to an investigation carried out by US authorities, the specific correspondent account seems to have facilitated a transaction involving tainted funds. Which allows the US authorities to seize the funds of the foreign bank held with the US bank?

The USA PATRIOT Act
The 6th EU AML Directive
The Financial Crimes Enforcement Network Customer Due Diligence Final Rule
Regulations of the Office of Foreign Assets Control, US Department of Treasury

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Question 159

When investigating an AML event, which techniques would be used to investigate suspected mule accounts? (Select Three.)

Reconcile the stated purpose of the account with actual transaction history and compare with peer groups.
Submit a suspicious activity report to the national financial intelligence unit.
Determine if the suspected accounts are being accessed by a common person, telephone number, or device.
Establish the frequency with which the funds are moved in and out of the accounts.
Review the account history and determine if there are previous payments to charity accounts.
Contact the appropriate law enforcement agency and report the account activity.

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Question 160

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

Increased organized crime and corruption
US sanctions
Loss of tax revenue
Reputation risk for the port

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Question 161

The Financial Action Task Force recommends the incorporation of some measures in customer due diligence programs including:

identifying the products and services and their suitability to customers.
conducting ongoing due diligence on the business relationship and monitoring of transactions.
identifying the number of beneficial owners without the verification of their true identity.
conducting the risk assessment of products and services.

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Question 162

Which is a characteristic of the Financial Action Task Force (FATF) 40 recommendations?

They are automatically transposed into local law across the EU member states and the US.
They provide a list of mandatory requirements for an effective AML regulatory framework.
They comprise global standards for countering money laundering, recognized by government bodies across the world.
They enable FATF's active engagement in law enforcement matters, investigations, or prosecutions.

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Certified Anti-Money Laundering Specialist Practice Questions

Question 157

Question 158

Question 159

Question 160

Question 161

Question 162