REASONABLE CAMS EXAM PRICE - VALID CAMS EXAM DUMPS

Reasonable CAMS Exam Price - Valid CAMS Exam Dumps

Reasonable CAMS Exam Price - Valid CAMS Exam Dumps

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The CAMS certification is highly valued by employers in the financial services industry, as it demonstrates a commitment to compliance and risk management. In addition, many regulatory agencies and law enforcement organizations recognize the CAMS certification as a mark of expertise in the AML field. Professionals who hold the CAMS certification may have access to more job opportunities, higher salaries, and greater career advancement prospects.

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.

  • Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
  • Provide three professional references.
  • Submit supporting documents.

The benefits of earning the CAMS certification are numerous. First and foremost, the certification demonstrates to employers and clients that the holder has a deep understanding of AML regulations and can effectively mitigate money laundering risks. CAMS certification holders are also more likely to be promoted and earn higher salaries than their non-certified counterparts. Additionally, CAMS certification holders have access to a network of AML professionals and resources through the ACAMS community.

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q622-Q627):

NEW QUESTION # 622
When considering sharing information across the institution or within the same jurisdiction, what is the key legal issue that poses challenges to sharing customer-related information?

  • A. Consumer protection laws
  • B. Conflicting AML regulations
  • C. Data protection and privacy laws
  • D. Technological inconsistencies and challenges

Answer: C

Explanation:
Explanation
When considering sharing information across the institution or within the same jurisdiction, the key legal issue that poses challenges to sharing customer-related information is data protection and privacy laws. Data protection and privacy laws exist in most countries and can vary significantly from jurisdiction to jurisdiction.
These laws place restrictions on how customer data can be used, shared, and stored, and can limit the ability of financial institutions to share customer-related information with each other. Additionally, these laws may also require financial institutions to take additional steps to ensure the protection of customer data.


NEW QUESTION # 623
A comprehensive set of risk-based guidelines for maintaining business relationships is being developed.
Which situation indicates that the institution should terminate the relationship with a client?

  • A. The client does business in countries with active terrorist organizations.
  • B. The client exceeds the criteria of an acceptable risk model created by the institution and does not perform acceptable remedial actions.
  • C. The client exceeds the criteria of an acceptable risk model created by another institution that is not similar in size and complexity.
  • D. The client conducts international financial transactions exceeding U.S. $500 million.

Answer: B

Explanation:
According to the risk-based approach, financial institutions should apply enhanced due diligence and ongoing monitoring to higher-risk clients, and take appropriate measures to mitigate the risks of money laundering and terrorist financing. If the client exceeds the criteria of an acceptable risk model created by the institution, the institution shouldcommunicate the issues to the client and request remedial actions, such as providing additional information, documentation, or evidence of compliance. If the client does not cooperate or comply with the institution's requirements, the institution should consider terminating the relationship with the client, as the risk may outweigh the benefits of continuing the business relationship.
ACAMS CAMS Certification Package - 6th Edition, Chapter 2: Risk Assessments, pp. 51-521 ACAMS CAMS Certification Package - 6th Edition, Chapter 4: Customer Due Diligence, pp. 97-981 ACAMS CAMS Certification Video Training Course, Module 2: Risk Assessments, Lesson 2.3: Risk-Based Approach2 ACAMS CAMS Certification Video Training Course, Module 4: Customer Due Diligence, Lesson 4.3:
Enhanced Due Diligence
Reference:
http://www.fatf-gafi.org/media/fatf/documents/reports/Risk-Based-Approach-Banking-Sector.pdf


NEW QUESTION # 624
Which is a characteristic of the Financial Action Task Force (FATF) 40 recommendations?

  • A. They comprise global standards for countering money laundering, recognized by government bodies across the world.
  • B. They enable FATF's active engagement in law enforcement matters, investigations, or prosecutions.
  • C. They are automatically transposed into local law across the EU member states and the US.
  • D. They provide a list of mandatory requirements for an effective AML regulatory framework.

Answer: A

Explanation:
Explanation
The characteristic of the Financial Action Task Force (FATF) 40 recommendations is that they comprise global standards for countering money laundering, recognized by government bodies across the world. The FATF 40 recommendations provide a comprehensive framework of measures that countries should implement to combat money laundering and terrorist financing. The recommendations are not mandatory, but are widely recognized and followed by countries across the globe. The recommendations cover a range of areas, including customer due diligence, record-keeping, suspicious activity reporting, and international cooperation.


NEW QUESTION # 625
A bank receives an anonymous tip from an employee about another employee through its confidential hotline.
Which activity warrants further review?

  • A. A teller distributes bank brochures to customers who regularly conduct cash transactions below reporting limits
  • B. An employee in bookkeeping accepts funds transfer requests from customers via telephone
  • C. A mortgage officer works with home loan applicants to resolve adverse credit issues
  • D. An employee in accounting works with customers to help understand how to reduce service charges

Answer: B


NEW QUESTION # 626
the Financing of Terrorism (CFT)]
The AML investigator is reviewing the transaction monitoring alerts and the customer's historical profile for the past two years. A review of the negative news search from a blog indicates that the customer was previously part of a terrorist group. Which activities warrant further escalation? (Select Two.)

  • A. The account received a large cash deposit followed by systematic automated teller machine (ATM) withdrawals until the balance was nominal.
  • B. The credit transactions in the account relate mostly to salary and rental income from property.
  • C. The customer has bought and sold several real estate properties over the last year.
  • D. The customer remitted monies in several transactions to the account of a recognized charity non-profit organization.
  • E. The customer conducts multiple cash transactions on a regular basis which do not match the customer's occupation.

Answer: A,E

Explanation:
1. D. The account received a large cash deposit followed by systematic automated teller machine (ATM) withdrawals until the balance was nominal.
This pattern of behavior, known as "structuring" or "smurfing," is often associated with money laundering.
The large cash deposit followed by smaller withdrawals in a systematic manner raises red flags and requires further investigation.
2. E. The customer conducts multiple cash transactions on a regular basis which do not match the customer's occupation.
Conducting frequent cash transactions that do not align with the customer's stated occupation or income source is suspicious. It suggests potential attempts to hide the true origin of funds or evade reporting requirements1.
D: Large Cash Deposit Followed by ATM Withdrawals:
The large cash deposit followed by systematic ATM withdrawals is indicative of structuring, a common money laundering technique. Structuring involves breaking down large sums of money into smaller transactions to avoid detection. In this case, the customer's behavior warrants further scrutiny to determine the purpose behind these transactions.
E: Inconsistent Cash Transactions:
When a customer conducts multiple cash transactions that do not align with their stated occupation or income source, it raises suspicions. Such behavior may indicate an attempt to obscure the true origin of funds or evade reporting requirements. Investigating the reasons behind these inconsistent cash transactions is essential to assess potential money laundering risks1.
References: 1: Anti-Money Laundering Specialist (6th edition), ACAMS, Chapter 3: "Money Laundering and Terrorist Financing Methods," Section 3.1.2: "Structuring," and Section 3.1.3: "Inconsistent Cash Transactions."


NEW QUESTION # 627
......

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