Online Access Free ACAMS.CAMS.v2022-03-23.q332 Practice Test (Page 66)

CAMS Exam Question 322

What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee's Customer Due Diligence for Banks paper?

A.Annual staff training

B.A customer acceptance policy

C.The same KYC requirements must be applied in all cases

D.All completed KYC documents must be reviewed by a senior manager not involved in the account opening process

CAMS Exam Question 323

Why is the Mutual Legal Assistance Treaty (MLAT) a gateway for international cooperation?

A.They issue the Prmc4es of Information Exchange Between Financial intelligence Units (FIUs)

B.They provide a legal basis for transmitting evidence that can be used for prosecution and judicial proceedings

C.They receive reports of suspicious transactions from financial institutions to disseminate to local Law enforcement and foreign FIUs

D.They obtain intelligence that might lead to evidence

CAMS Exam Question 324

A foreign bank operating under an offshore license wants to open a correspondent account with a United States (U.S.) bank. The foreign bank plans to provide payable through account services to some of its customers.
What must the foreign bank provide to the U.S. bank under the USA PATRIOT Act?

A.A list of account holders at the financial institution who will use the payable through account

B.The person in the United States who can receive service of legal process for the correspondent bank

C.A list of politically exposed persons who are owners of the correspondent bank

D.A list of anti-money laundering training records for the financial institution employees monitoring payable through account transactions

CAMS Exam Question 325

What describes the Black Market Peso Exchange money laundering method?

A.The best known money laundering method used by known terrorists

B.A method used to smuggle dollars or pesos across that border from the U.S. to Mexico, and vice versa

C.A method primarily used by narcotics traffickers to transfer value back to the source country

D.An undercover technique to identify politically exposed persons who may assist money launderers

CAMS Exam Question 326

Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?

A.The criminal anti-money laundering law can apply to transactions that occur partially overseas

B.Economic and trade sanctions by OFAC may pose extraterritorial risks for financial institutions and businesses outside the U.S.

C.The extraterritorial reach covers all transactions throughout the global economy

D.The defendant does not need to know the funds came from an illegal activity under state, federal or foreign law

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CAMS Exam Question 322

CAMS Exam Question 323

CAMS Exam Question 324

CAMS Exam Question 325

CAMS Exam Question 326

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