Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsberg Group's Statement on the Suppression of the Financing of Terrorism?
A. Consulting applicable lists and taking appropriate actions to determine if customers appear on such lists
B. Reporting matches from lists of known or suspected terrorists to relevant authorities
C. Maintaining customer information to facilitate timely retrieval of such information
D. Reviewing only original identification documents when verifying customers
An AML compliance officer receives notice of government update including the names of the latest terrorists sanctioned by the United Nations Security Council. Which would be the most appropriate step to take?
A. Notify the Board of Directors
B. Update the monitoring software containing sanctioned persons
C. Inform the customers that their funds will be frozen
D. Update training information to include the latest names
What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?
A. Private banking
B. Correspondent banking
C. Alternative remittance
D. Trade finance
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?
A. Kidnapping
B. Offenses involvingdishonesty
C. Driving while under the influence
D. Protests of government action
In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?
A. A system of internal policies, procedures and controls
B. A designated compliance officer with day-to-day oversight over the AML program
C. An ongoing employee training program
D. A description of its OFAC program to address government watch list screening
Which three areas do FATF's 40 recommendations cover? Choose 3 answers
A. International Cooperation
B. Prescriptive sentences for predicate offenses
C. Financial systems and their regulation
D. The criminal justice system
Which primary international authoritative body designates sanctions?
A. Organization of Economic Co-operation and Development (OECD)
B. FinancialAction Task Force (FATF)
C. International Monetary Fund (IMF)
D. United Nations (UN)
What describes the Black Market Peso Exchange money laundering method?
A. The best known money laundering method used by known terrorists
B. An undercover technique to identify politically exposed persons who may assist money launderers
C. A method primarily used by narcotics traffickers to transfer value back to the source country
D. A method used to smuggle dollars or pesos across that border from the U.S. to Mexico, and vice versa
Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers
A. Persons residing in a having funds from countries with inadequate AML standards
B. Persons engaged in business activities known to be susceptible to money laundering
C. Persons who receive funds from a correspondent banking relationship
D. Persons determined tobe Politically Exposed Persons (PEPs)
What are some of the shortcomings in using letters regulatory? Choose 3 answers
A. They can be time-consuming
B. They are based on a pre-existing mutual treaty between the countries
C. They are usually restricted to obtainingevidence that can be used for prosecution and other judicial proceedings
D. They must be approved in advance by the countries judicial authorities
Nowadays, the certification exams become more and more important and required by more and more enterprises when applying for a job. But how to prepare for the exam effectively? How to prepare for the exam in a short time with less efforts? How to get a ideal result and how to find the most reliable resources? Here on Vcedump.com, you will find all the answers. Vcedump.com provide not only ACAMS exam questions, answers and explanations but also complete assistance on your exam preparation and certification application. If you are confused on your CAMS exam preparations and ACAMS certification application, do not hesitate to visit our Vcedump.com to find your solutions here.