CAMS-CN Exam Question 61
下列哪一項活動最可能與參與洗錢計畫的律師有關?
Correct Answer: D
One of the common methods used by money launderers to hide the origin and destination of illicit funds is to create complex corporate structures that obscure the identity of the real owners or controllers of the assets.
Lawyers can facilitate this process by providing legal services such as setting up shell companies, trusts, foundations, or other entities in jurisdictions with weak AML regulations or high secrecy. By doing so, lawyers can help their clients evade taxes, avoid sanctions, conceal criminal activities, or launder money. This is why lawyers are considered high-risk professionals for AML purposes and are subject to due diligence and reporting obligations.: = Some of the references that support this answer are:
ACAMS Study Guide for the CAMS Certification Examination, Chapter 3, Section 3.2.2, page 77: "Lawyers are often used to create complex corporate structures that can be used to hide the beneficial ownership of assets." Money Laundering Reporting Officer: The Role Of MLRO, Section "Money Laundering Risks For Lawyers":
"Lawyers are at risk of being used by criminals to launder money through various means, such as creating corporate entities, conducting transactions, or providing advice." New York Lawyer Pleads Guilty to Ponzi Scheme, Money Laundering, Section "Lawyer agrees to forfeit $19 million from investment scheme": "A New York lawyer admitted Monday to money laundering and orchestrating an $18.8 million Ponzi scheme using his Forest Hills-based law firms, Wisnicki & Associates LLP and Wisnicki Neuhauser LLP."
Lawyers can facilitate this process by providing legal services such as setting up shell companies, trusts, foundations, or other entities in jurisdictions with weak AML regulations or high secrecy. By doing so, lawyers can help their clients evade taxes, avoid sanctions, conceal criminal activities, or launder money. This is why lawyers are considered high-risk professionals for AML purposes and are subject to due diligence and reporting obligations.: = Some of the references that support this answer are:
ACAMS Study Guide for the CAMS Certification Examination, Chapter 3, Section 3.2.2, page 77: "Lawyers are often used to create complex corporate structures that can be used to hide the beneficial ownership of assets." Money Laundering Reporting Officer: The Role Of MLRO, Section "Money Laundering Risks For Lawyers":
"Lawyers are at risk of being used by criminals to launder money through various means, such as creating corporate entities, conducting transactions, or providing advice." New York Lawyer Pleads Guilty to Ponzi Scheme, Money Laundering, Section "Lawyer agrees to forfeit $19 million from investment scheme": "A New York lawyer admitted Monday to money laundering and orchestrating an $18.8 million Ponzi scheme using his Forest Hills-based law firms, Wisnicki & Associates LLP and Wisnicki Neuhauser LLP."
CAMS-CN Exam Question 62
當地執法人員通知銀行合規官員,他正在實施一項保險詐欺計劃,該計劃似乎正在使用銀行員工的帳戶進行交易。執法人員參考合規人員提交的可疑交易報告,並要求提供更多資訊。
合規官應該採取什麼行動?
合規官應該採取什麼行動?
Correct Answer: D
the compliance officer should cooperate with the law enforcement investigation, but only after receiving a formal written request that specifies the scope and purpose of the information sought. This is to ensure that the compliance officer complies with the legal and regulatory obligations of the bank, such as confidentiality, privacy, and data protection. The compliance officer should also document the request and the information provided, and report the incident to the senior management and the board of directors as appropriate.
:
FFIEC BSA/AML Assessing the BSA/AML Compliance Program - BSA Compliance Officer, section "BSA Compliance Officer", paragraph 3: "The BSA compliance officer is responsible for ensuring that the bank's BSA/AML compliance program is implemented effectively, including timely updates in response to changes in regulations or business activities, and for managing all aspects of the BSA/AML compliance program. The BSA compliance officer is also responsible for ensuring that the bank's BSA/AML compliance program is communicated to all personnel and that adequate training is provided to appropriate personnel." Guidelines on the role of AML/CFT compliance officers, section "Guidelines on the role of AML/CFT compliance officers", paragraph 36: "The AML/CFT compliance officer should ensure that the institution cooperates with the competent authorities, including by providing them with all the information they require in a timely manner, in accordance with the applicable legal and regulatory framework." Anti-Money Laundering Compliance Officer Job Description, section "Responsibilities of an AML Compliance Officer", bullet point 6: "Cooperate with law enforcement and regulatory bodies as required."
:
FFIEC BSA/AML Assessing the BSA/AML Compliance Program - BSA Compliance Officer, section "BSA Compliance Officer", paragraph 3: "The BSA compliance officer is responsible for ensuring that the bank's BSA/AML compliance program is implemented effectively, including timely updates in response to changes in regulations or business activities, and for managing all aspects of the BSA/AML compliance program. The BSA compliance officer is also responsible for ensuring that the bank's BSA/AML compliance program is communicated to all personnel and that adequate training is provided to appropriate personnel." Guidelines on the role of AML/CFT compliance officers, section "Guidelines on the role of AML/CFT compliance officers", paragraph 36: "The AML/CFT compliance officer should ensure that the institution cooperates with the competent authorities, including by providing them with all the information they require in a timely manner, in accordance with the applicable legal and regulatory framework." Anti-Money Laundering Compliance Officer Job Description, section "Responsibilities of an AML Compliance Officer", bullet point 6: "Cooperate with law enforcement and regulatory bodies as required."
CAMS-CN Exam Question 63
大量現金存款最有可能反映洗錢行為
1. 從未進行過現金交易的客戶。
2. 一天中不同時段的交易量小於報告閾值。
3. 然後立即電匯至離岸保密天堂。
4. 經營現金業務的客戶。
1. 從未進行過現金交易的客戶。
2. 一天中不同時段的交易量小於報告閾值。
3. 然後立即電匯至離岸保密天堂。
4. 經營現金業務的客戶。
Correct Answer: A
A large cash deposit is a red flag for money laundering when it is inconsistent with the customer's profile, behavior, or business activity. A customer who has never conducted a transaction in cash before may be trying to avoid detection or conceal the source of the funds. A customer who transacts in segments smaller than the reporting thresholds at various times during the day may be engaging in structuring or smurfing, which are techniques to evade currency transaction reporting requirements. A customer who follows a large cash deposit with an immediate wire transfer to an offshore secrecy haven may be attempting to layer or move the funds to a jurisdiction with weak anti-money laundering controls or high confidentiality. These scenarios indicate a high risk of money laundering and warrant further investigation and reporting.
A customer who operates a cash-based business may have a legitimate reason to make a large cash deposit, depending on the nature and scale of the business. However, this does not mean that the customer is exempt from scrutiny or monitoring, as cash-based businesses are also vulnerable to money laundering abuse. The bank should verify the source and purpose of the funds, and compare the deposit with the customer's expected activity and turnover.
:
CAMS Certification Package - 6th Edition, Chapter 4: Conducting and Supporting the Investigation Process, pp. 97-98.
Warning signs of money laundering | The Law Society, Section: Cash deposits and withdrawals.
A customer who operates a cash-based business may have a legitimate reason to make a large cash deposit, depending on the nature and scale of the business. However, this does not mean that the customer is exempt from scrutiny or monitoring, as cash-based businesses are also vulnerable to money laundering abuse. The bank should verify the source and purpose of the funds, and compare the deposit with the customer's expected activity and turnover.
:
CAMS Certification Package - 6th Edition, Chapter 4: Conducting and Supporting the Investigation Process, pp. 97-98.
Warning signs of money laundering | The Law Society, Section: Cash deposits and withdrawals.
CAMS-CN Exam Question 64
當金融行動特別工作小組(FATF)相互評估報告中發現缺陷時,被評估國家需要:
Correct Answer: A
According to the Anti-Money Laundering Specialist (the 6th edition) resources, the FATF mutual evaluation process is a peer review mechanism that assesses the level of compliance of a country with the FATF 40 recommendations and the effectiveness of its anti-money laundering and counter-terrorist financing system.
The mutual evaluation report identifies the strengths and weaknesses of the assessed country and provides recommendations for improvement. The assessed country needs to address the shortcomings identified in the report and agree to post-assessment monitoring by FATF, which involves regular follow-up reports and actions to remedy the deficiencies. The other options are not correct, as they do not reflect the FATF mutual evaluation process or the obligations of the assessed country.
References:
1: ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 4:
International Standards and Global Initiatives, page 97.
2: FATF, Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems, February 2013, updated October 2019, 1.
3: FATF, Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations, October 2019, 2.
The mutual evaluation report identifies the strengths and weaknesses of the assessed country and provides recommendations for improvement. The assessed country needs to address the shortcomings identified in the report and agree to post-assessment monitoring by FATF, which involves regular follow-up reports and actions to remedy the deficiencies. The other options are not correct, as they do not reflect the FATF mutual evaluation process or the obligations of the assessed country.
References:
1: ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 4:
International Standards and Global Initiatives, page 97.
2: FATF, Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems, February 2013, updated October 2019, 1.
3: FATF, Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations, October 2019, 2.
CAMS-CN Exam Question 65
評估客戶風險評級時考慮哪些風險因素?(選三。)
Correct Answer: A,B,C
When assessing the risk rating of customers, financial institutions should consider various factors that may indicate the potential for money laundering, terrorist financing, or other illicit activities. According to the ACAMS Study Guide for the CAMS Certification Examination1, some of the key risk factors are:
Customer risk: This refers to the characteristics of the customer that may affect their risk profile, such as their identity, occupation, source of funds, business activities, reputation, and political exposure. For example, customers who are politically exposed persons (PEPs), cash-intensive businesses, non-resident customers, or customers with complex ownership structures may pose a higher risk of money laundering or terrorist financing.
Geographic risk: This refers to the location of the customer, their business, or their transactions, and the level of risk associated with that location. For example, customers who are based in, operate in, or transact with jurisdictions that have weak anti-money laundering (AML) regulations, high levels of corruption, or are subject to sanctions or embargoes may pose a higher risk of money laundering or terrorist financing.
Product risk: This refers to the type of products or services that the customer uses or offers, and the level of risk associated with those products or services. For example, customers who use or offer products or services that are anonymous, complex, or facilitate cross-border transactions may pose a higher risk of money laundering or terrorist financing.
Other risk factors that may be considered include transaction risk, delivery channel risk, and industry risk2.
However, these are not among the options given in the question.
References: = Some of the references that support this answer are:
ACAMS Study Guide for the CAMS Certification Examination, Chapter 4, Section 4.1, pages 97-99:
"Customer Risk Factors", "Geographic Risk Factors", "Product Risk Factors".
Customer Risk Rating: Connecting Customer Risk Rating With Due Diligence, Section "Customer Risk Rating Factors": "Transaction Risk Factors", "Delivery Channel Risk Factors", "Industry Risk Factors".
Customer risk: This refers to the characteristics of the customer that may affect their risk profile, such as their identity, occupation, source of funds, business activities, reputation, and political exposure. For example, customers who are politically exposed persons (PEPs), cash-intensive businesses, non-resident customers, or customers with complex ownership structures may pose a higher risk of money laundering or terrorist financing.
Geographic risk: This refers to the location of the customer, their business, or their transactions, and the level of risk associated with that location. For example, customers who are based in, operate in, or transact with jurisdictions that have weak anti-money laundering (AML) regulations, high levels of corruption, or are subject to sanctions or embargoes may pose a higher risk of money laundering or terrorist financing.
Product risk: This refers to the type of products or services that the customer uses or offers, and the level of risk associated with those products or services. For example, customers who use or offer products or services that are anonymous, complex, or facilitate cross-border transactions may pose a higher risk of money laundering or terrorist financing.
Other risk factors that may be considered include transaction risk, delivery channel risk, and industry risk2.
However, these are not among the options given in the question.
References: = Some of the references that support this answer are:
ACAMS Study Guide for the CAMS Certification Examination, Chapter 4, Section 4.1, pages 97-99:
"Customer Risk Factors", "Geographic Risk Factors", "Product Risk Factors".
Customer Risk Rating: Connecting Customer Risk Rating With Due Diligence, Section "Customer Risk Rating Factors": "Transaction Risk Factors", "Delivery Channel Risk Factors", "Industry Risk Factors".
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