ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 48 • ExamPrepare

308 questions in this view

Page 48 of 52

Question 283

What are the common financial crime risks posed to the e-commerce business model? (Select Three.)

Committing fraud against the customer by failing to deliver goods or services
Buying goods or services using stolen bank card data
Abusing online marketplaces to move criminally obtained funds
Committing bribery and corruption
Evading export control regulations

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 284

Money services business (MSB) customers present the greatest financial crime risks to mitigate if they: (Select Two.)

require registration.
process the activity of a customer's customer.
often send cross-border transfers.
conduct a large volume of low-value transactions.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 285

Upon learning of a potential weakness through an organization’s enterprise-wide sanctions risk assessment relating to a low number of sanctions screening alerts generated compared to the business size and operations identified, which action would best ensure the risk area is properly managed and remediated to the best possible extent?

Revisiting the post-transaction monitoring system parameters and thresholds
Reviewing the enterprise-wide risk assessment methodology
Reviewing the fuzzy logic currently adopted in the screening system
Enhancing staff training on the documentation of justification on closed alerts

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 286

Which key financial crime risks relate to the remote gambling sector specifically? (Select Three.)

Customers depositing large amounts of cash
Customers not being physically present for identification purposes
Customers using anonymous prepaid cards
Customers making numerous low-level transactions to avoid enhanced due diligence
Customers betting more than they can afford

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 287

The chief compliance officer at a global bank that operates in the US, EU, and other countries is responsible for navigating the US and EU regulations related to anti-money laundering (AML) and sanctions as well as any local regulations in the countries where it operates.

What should be the primary compliance concern of the bank?

US and EU regulations require the bank to build separate compliance teams, making it necessary to establish completely separate systems for US and EU operations.
The EU’s sanctions regime is stricter than that of the US Office of Foreign Assets Control (OFAC), so the bank must prioritize compliance with EU regulations over US laws and train the staff in Europe accordingly.
Balancing compliance with the US Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) sanctions while ensuring adherence to EU AML directives and the General Data Protection Regulation (GDPR), which complicates cross-border data sharing.
US anti-money laundering regulations are stricter than the EU AML Directives, making it easier for the global bank to be compliant in the EU.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 288

Which of the following statements describe the strengths associated with public-private partnerships (PPP)? (Select Two.)

Public organizations can better understand the experiences of the private sector, allowing for better informed policies and laws.
Data-protection privacy policies prohibit the evolution of PPPs due to restrictions based on legacy government legislation.
Data-protection privacy policies provide an opportunity to develop information sharing protocols to prevent unauthorized access to information.
Small business owners can choose third-party providers or financial institutions to keep their private data safe, which can easily be shared within a PPP.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Certified Anti-Money Laundering Specialist Practice Questions

Question 283

Question 284

Question 285

Question 286

Question 287

Question 288