ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 28 • ExamPrepare

Question 163

Which is an example of structuring with regards to money laundering?

A person uses the hawala system to transfer 10,000 USD from Australia to a family member in China.
A person deposits substantial sums of currency into a number of local branches by making several cash transactions of less than 10,000 USD.
A person deposits a large amount of more than 100,000 USD in cash and transfers it to another person's account.
A person deposits 100,000 USD in cash at a bank.

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Question 164

One of the red flags of microstructuring is:

depositing sequentially numbered checks.
single activity in an account immediately following the opening of the account.
frequent visits to make cash deposits of nominal amounts.
check deposits followed by automated teller machine (ATM) withdrawals using a debit card in a retail store.

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Question 165

An oil exploration company based in France does business with oil refineries in Iran, which is subject to comprehensive Office of Foreign Assets Control (OFAC) sanctions. What type of OFAC sanctions should be imposed against the French company?

Country-based
List-based
Secondary
Sectoral

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Question 166

Which assessments are involved in the processes of mutual evaluation and follow-up by the Financial Action Task Force?

Technical compliance assessments and effectiveness assessments
Sanction risk assessments and the country's National Risk Assessment
Risk assessments and technical standards assessments
Country audit assessments and transaction monitoring assessments

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Question 167

Which are reasons organized crime groups often use front companies? (Select Two).

Front companies are not subject to income and other sales taxes because they are not registered.
They can use the company's bank accounts to comingle deposits with those of legal businesses.
Front companies generally charge higher prices than legitimate companies, so profit margins are higher.
Using multiple front companies can make it easier to control an entire sector of the economy.
Front companies are generally subject to lighter due diligence requirements by banks and other financial services providers.

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Question 168

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Certified Anti-Money Laundering Specialist Practice Questions

Question 163

Question 164

Question 165

Question 166

Question 167

Question 168