CAMS Exam Question 46
Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?
CAMS Exam Question 47
When making an independent determination on whether to close an account based on an internal Investigation, a financial institution (F1) should consider. (Select Five.)
CAMS Exam Question 48
A recruitment manager in the human resources department of a bank has shortlisted a candidate for the position of relationship manager in its private banking division.
The bank's compliance policy requires proper background checks to protect against fraud and money laundering risks.
Which resources would be most useful for identifying potential negative information regarding the shortlisted candidate? (Select Three.)
The bank's compliance policy requires proper background checks to protect against fraud and money laundering risks.
Which resources would be most useful for identifying potential negative information regarding the shortlisted candidate? (Select Three.)
CAMS Exam Question 49
An agent of a wealthy individual residing in Country A, which is on the EU list of high-risk third jurisdictions, approaches a notary in Country B, which is in the EU. The agent wants to complete a disposal of assets recently acquired at auction by the wealthy individual through an offshore company. The agent also has a power of attorney to act on behalf of the offshore company issued by a respectable law firm from Country C, which is also in the EU. The agent asks the notary to proceed with the disposal as quickly as possible without paying any specific attention to related costs or taxes to be paid as a result of this transaction. The notary notices the intended transfer price is significantly lower than the one recorded at auction, but the agent does not want to discuss this matter and claims that it is not covered by the power of attorney.
Which red flags should the notary consider? (Select Two)
Which red flags should the notary consider? (Select Two)
CAMS Exam Question 50
An AML compliance officer for a large bank has recently received an internal audit report on the private banking unit. The report revealed that the unit staff were not following risk-based due diligence procedures, so that the unit was not operating effectively.
Which immediate actions should the AML compliance officer consider to address these findings? (Select Two.) Management Should implement a quality assurance program in the private banking unit
Which immediate actions should the AML compliance officer consider to address these findings? (Select Two.) Management Should implement a quality assurance program in the private banking unit