ACAMS CAMS Valid Test Syllabus, CAMS Relevant Questions

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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Certification Exam is a highly respected and globally recognized certification for professionals who are involved in the prevention and detection of money laundering and other financial crimes. Certified Anti-Money Laundering Specialists (the 6th edition) certification is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), which is the largest international organization dedicated to enhancing the knowledge and skills of professionals in the anti-money laundering (AML) field.

Who should take the CAMS exam

The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.

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ACAMS CAMS Relevant Questions, CAMS Training Material

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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Certification Exam is a globally recognized certification exam designed for professionals in the anti-money laundering (AML) industry. Certified Anti-Money Laundering Specialists (the 6th edition) certification exam is a rigorous and comprehensive assessment that measures an individual’s knowledge and skills in the AML field. Certified Anti-Money Laundering Specialists (the 6th edition) certification is valuable for AML professionals looking to advance their careers and enhance their professional credibility.

ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q238-Q243):

NEW QUESTION # 238
A customer comes into the bank and appears to be ill-at-ease waiting in the teller line. When the customer gets to the teller, he become exceedingly nervous and asks for a large cashier's check to be cashed and disbursed to him in $100 bills.
What should the teller do after completing the transaction?

Answer: D


NEW QUESTION # 239
A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer.
How should the bank respond?

Answer: D

Explanation:
The bank should request a formal letter be submitted to verify the validity of the request, as this is the best practice to ensure compliance with the law and protect customer privacy. The bank should not confirm or deny the existence of a customer relationship, nor provide any information without proper authorization. The bank should also not inform the board of directors before responding to the request, as this could compromise the confidentiality of the investigation or alert the customer.
ACAMS CAMS Certification Video Training Course, Module 2: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), Section 2.3: Data Protection and Privacy, Slide 10 ACAMS CAMS Certification Study Guide, 6th Edition, Chapter 2: Compliance Standards for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), Page 51 Reference:https://ico.org.uk/for-organisations/guide-to-freedom-of-information/receiving-a-request/


NEW QUESTION # 240
A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?

Answer: D

Explanation:
According to the Basel Committee on Banking Supervision principles, the most important question the banker should ask when opening a numbered or alternate name account is who will control the account. This is because such accounts pose a higher risk of money laundering and terrorist financing, as they can be used to conceal the identity and beneficial ownership of the funds. Therefore, the banker should perform enhanced due diligence and verify the identity and source of funds of the person who has the authority to operate the account, as well as the purpose and nature of the business relationship12 The other questions are less relevant or secondary to the issue of control. The inheritance of the proceeds in the event of the businessman's death is a matter of succession law and does not affect the identification of the beneficial owner. The amount of money deposited into the account may indicate the level of risk, but does not reveal the origin or destination of the funds. The account-opening date is a procedural detail that does not affect the compliance with the anti-money laundering and counter-terrorist financing standards12 References:
1: Basel Committee on Banking Supervision - Core principles for effective banking supervision, 2012, Principle 14 and Essential Criterion 14.1
2: Basel Committee on Banking Supervision - Sound management of risks related to money laundering and financing of terrorism, 2014, Paragraphs 30 and 31


NEW QUESTION # 241
Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a

Answer: C

Explanation:
it describes the word "certification" as a written representation by a respondent bank, certifying that they do not do business with shell banks. This is one of the requirements for correspondent accounts in the USA PATRIOT Act, which is a law enacted in 2001 to enhance the anti-money laundering and counter-terrorist financing (AML/CTF) measures in the United States. The USA PATRIOT Act requires that correspondent banks, which are banks that provide services to other banks, such as clearing, settlement, or cash management, to obtain a certification from their respondent banks, which are banks that receive services from correspondent banks, to ensure that they are not involved in money laundering or terrorist financing activities. One of the elements of the certification is that the respondent bank does not do business with shell banks, which are banks that have no physical presence or meaningful supervision in any jurisdiction, and are often used by money launderers and other criminals to hide their identity and funds.
The other options are not necessarily the word "certification" as a written representation by a respondent bank under the USA PATRIOT Act, although they may have some relevance or importance depending on the circumstances and the nature of the correspondent relationship. Option A describes a possible certification by a federal receiver, which is a person appointed by a court to take custody and control of the assets of a failed bank, but this is not related to the correspondent accounts requirements in the USA PATRIOT Act. Option B describes a possible certification by a respondent bank, certifying that they do not do business with politically exposed persons (PEPs), which are individuals who hold or have held prominent public positions or their close associates or family members, and who may pose a higher risk of money laundering or corruption, but this is not a mandatory element of the certification under the USA PATRIOT Act, although it may be a good practice or a risk-based measure. Option C describes a possible certification by a correspondent bank, certifying that they do not open correspondent accounts for alternative remittance companies, which are businesses that provide money transfer or payment services outside the formal banking system, and which may pose a higher risk of money laundering or terrorist financing, but this is not a requirement for the respondent bank under the USA PATRIOT Act, although it may be a regulatory obligation or a risk-based measure for the correspondent bank.
Reference:
ACAMS CAMS Certification Video Training Course - 6th Edition1
Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)2 ACAMS CAMS Study Guide - 6th Edition, Chapter 7, pages 156-157
: https://www.acams.org/wp-content/uploads/2019/09/ACAMS-CAMS-Study-Guide-6th-Edition-Chapter-7.pdf


NEW QUESTION # 242
a personal banking customer who simultaneously opens several accounts will most likely cause further inquiry in which of the following scenarios?

Answer: C

Explanation:
A personal banking customer who simultaneously opens several accounts with almost identical names will most likely cause further inquiry, as this could indicate an attempt to evade transaction monitoring, reporting, or identification requirements. For example, a customer could open accounts with slight variations of their name, such as John Smith, Jon Smith, J. Smith, or John Smyth, to avoid detection or aggregation of their transactions. This could also be a sign of identity theft, fraud, or money muling. Therefore, the bank should verify the customer's identity and the purpose of the accounts, and monitor the activity for any suspicious patterns or behaviors.
ACAMS CAMS Certification Study Guide, 6th Edition, Chapter 4, Section 4.2.2, p. 1051 ACAMS CAMS Certification Exam Outline, 6th Edition, Domain 2, Task 2.1, p. 52 FATF Guidance on the Risk-Based Approach for the Banking Sector, October 2014, p. 353


NEW QUESTION # 243
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