ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 31 • ExamPrepare

308 questions in this view

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Question 181

Which activities could be considered a potential spear phishing scam? (Select Three.)

A courier delivers a duplicate invoice to a business that contains updated payment details of an existing supplier.
Payroll receives an external email from an employee looking to update their bank account information.
An employee receives a phone call requesting that money be sent to assist someone in trouble.
Members of a religious organization receive a donation request by email claiming to be from their leader.
An employee receives an email that asks to download an attachment, but the attachment is a malware.
A business sends its employees an email warning that email passwords must be changed to prevent cyber-fraud.

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Question 182

Based on the AML principles outlined by the Wolfsberg Group, what do private and correspondent banks have in common when monitoring for terrorist financing?

Transaction monitoring examines the relationship between due diligence information and account closings.
Cash access from a pre-paid card increases the potential that the card will be used for money laundering purposes.
Numbered or alternate name accounts will only be accepted if the bank has established the identity of the client and beneficial owner.
Account and transactional activity are monitored after the proper identification and verification of customers.

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Question 183

Which statements relate to the role of financial intelligence units (FIUs) in combatting financial crime on a national and international level? (Select Three.)

FIUs use a limited range of investigative techniques.
FIUs are legally empowered to use a wide range of investigative techniques, both in the public and in the private sector.
FIUs have a broad range of financial information to assess suspicious activity alerts.
FIUs are able to cooperate both with foreign counterparts and national institutions.
FIUs can only command data and information requests from public sector entities.
FIUs can only engage in cross-border collaboration where there exists a reasonable suspicion that is confirmed by a court-issued document.

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Question 184

Which transaction monitoring processes would alert a bank for red flag activity?

A client makes a prepayment on their credit card and a week later makes multiple cash withdrawals using an automated teller machine (ATM) in a foreign country.
A client who does not typically make extravagant credit card purchases books an airline ticket on a travel website.
A charity account receives multiple electronic transfers and then sends a wire transfer to a higher-risk country.
The company has a name that is similar to that of a company whose directors are named on the bank's internal blacklist.

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Question 185

Which should a financial institution implement in order to identify and investigate money laundering activity from their clients? (Select Two.)

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Question 186

A financial institution's (FI's) policy is to apply enhanced due diligence (EDD) for every new client to ensure the effectiveness of the program. How should a consultant advise the FI's management team?

Suggest EDD for 50% of the clients is appropriate.
Suggest the management team select the clients that are chosen for EDD.
Suggest the FI needs to implement a risk-based approach for EDD.
Suggest the management team ask the regulator for advice on EDD measures.

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Certified Anti-Money Laundering Specialist Practice Questions

Question 181

Question 182

Question 183

Question 184

Question 185

Question 186