Free ACAMS CAMS Übungsprüfungen - Seite 35 von 35

Question #341

A legal instrument executed between two nations that governs cross-border information sharing is known as a:

A . Memorandum of Agreement.
B . Declaration of Understanding.
C . Memorandum of Understanding.
D . Mutual Legal Assistance Treaty.
E . Request for Urgent Information.

Question #342

The Financial Action Task Force (FATF) routinely publishes a catalog of jurisdictions requiring enhanced monitoring, which is commonly called the:

A . Yellow notice.
B . Red notice.
C . Grey list.
D . White list.

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Question #343

Which of the following activities are considered money laundering red flags when reviewing business operations of a money services business (MSB)? (Select Two.)

A . A customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency under the reporting threshold.
B . Cash-intensive businesses, such as convenience stores or restaurants, making large cash deposits.
C . A customer completing frequent small-dollar international money transfers to their native
country.
D . A customer being hesitant to provide beneficiary name or address information when sending international wire transfers.
E . A customer using multiple accounts under different names to conduct transactions.

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Question #344

A precious metals dealer opens a new account with a bank.

Which requires a referral to AML investigations for further review?

A . International incoming payments from foreign companies in which the precious metals dealer has an established relationship
B . Payments on the account reference unknown companies from high-risk jurisdictions
C . International outgoing wires to diamond dealers that are part of the diamond pipeline
D . Multiple daily point of sale transactions from third parties that appear to be individuals

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Question #345

The findings of an internal audit discover that a large group of employees do not know how to handle Politically Exposed Persons (PEPs).

Which is the next course of action that should be taken?

A . Create a company-wide training program.
B . Revamp the compliance program to better identify PEPs.
C . Ensure all new-hire individuals have in-depth knowledge of PEPs.
D . De-risk all PEPs from the financial institution (FI) to ensure compliance.

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Richtige Antwort: A
A

Explanation:

According to the ACAMS CAMS Study Guide, one of the key elements of an effective anti-money laundering (AML) program is ongoing training for all relevant staff. Training should cover the legal and regulatory obligations, the risks and red flags of money laundering and terrorist financing, the procedures and controls for customer due diligence and transaction monitoring, the reporting and record-keeping requirements, and the roles and responsibilities of the staff and the management. Training should also be tailored to the specific functions and needs of the staff, and should be updated regularly to reflect the changes in the AML environment and the FI’s policies and procedures.

PEPs are considered high-risk customers for AML purposes, as they may abuse their positions of power and influence to commit or facilitate corruption, bribery, embezzlement, or other financial crimes. Therefore, it is essential that the FI’s staff are aware of the definition and categories of PEPs, the sources and methods to identify and verify PEPs, the enhanced due diligence measures and ongoing monitoring that apply to PEPs, and the escalation and reporting procedures for suspicious activities involving PEPs.

If an internal audit reveals that a large group of employees do not know how to handle PEPs, this indicates a serious gap in the FI’s AML training program, which could expose the FI to regulatory sanctions, reputational damage, and legal liabilities. Therefore, the next course of action that should be taken is to create a company-wide training program that covers the relevant aspects of PEPs, and to ensure that the training is delivered to all staff who deal with PEPs or have access to PEP-related information. The training should also be evaluated for its effectiveness and impact, and the results should be reported to the senior management and the board of directors.

Reference: ACAMS CAMS Study Guide, 6th Edition, Chapter 2: Developing an Effective Anti-Money Laundering Program, page 51-52

: ACAMS CAMS Study Guide, 6th Edition, Chapter 3: Conducting Customer Due Diligence, page 75-78

: FATF Guidance: Politically Exposed Persons (Recommendations 12 and 22), June 2013, 1

: ACAMS CAMS Study Guide, 6th Edition, Chapter 4: Conducting Ongoing Monitoring, page 97-98

Reference: https://www.acamstoday.org/all-politically-exposed-persons-are-local/