Get Reliable CAMS Exam Dumps - ACAMS CAMS Dumps PDF | Exam4Help

1. ACAMS CAMS Dumps Certified Anti-Money Laundering Specialist

2. Certify your AML and Anti-Financial Crime Knowledge The CAMS Certification In 2001, ACAMS set out with the mission to set an international standard for testing the knowledge of those entrusted with the detection and prevention of money laundering. What sprang from that concept was the Certified Anti-Money Laundering Specialist (CAMS) Certification. Since its inception, CAMS has become the gold standard in AML certifications and is recognized by private institutions, governments and law enforcement.

3. Why You and Your Team Should Earn an AML Certification The Certified Anti-Money Laundering Specialist (CAMS) credential is the gold standard in AML certifications and recognized internationally by financial institutions, governments and regulators as a serious commitment to protecting the financial system against money laundering. Institutions with CAMS-certified compliance teams can: • Drive a culture of compliance from the top down by building highly skilled teams staffed with subject matter experts • Demonstrate to regulators and examiners their dedication to a standardized risk-based approach for protecting against money laundering threats and financial crime risks • Meet mandated AML training requirements through preparation and study and satisfy ongoing training through recertification and advanced certification activities • Safeguard more effectively against financial and reputational damage

4. We currently offer CAMS in these languages: • Arabic • Bahasa Indonesia • Chinese – simplified • Chinese – traditional • English • French • German • Japanese • Portuguese • Russian • Spanish

5. Sample Question: 1 A customer runs an export business for agricultural products. There has been steady growth over the years from sales to the Caribbean region. A sudden increase is noted in this customer's account balances during the last month. On what grounds should an anti-money laundering specialist prepare a suspicious transaction report? A. The increased activity is due to money order deposits. B. Wire transfers are coming from a Financial Action Task Force member country. C. The client changed his address without advising the institution. D. Travelers checks (cheques) were purchased for trips to a Non-Cooperative Countries and Territories. Answer: C CAMS Dumps, CAMS Question Answers

6. Sample Question: 2 A bank in an offshore jurisdiction approaches an institution about opening a new correspondent banking relationship. Prior to opening the account, the new account representative obtains copies of the offshore bank's anti-money laundering policies and procedures, and all appropriate legal documentation for the bank; ascertains no third parties will be able to access the accounts; and determines the owners of the bank, the bank's primary business activities, and the business address of the bank. Which of the following steps does the Basel Committee on Banking Supervision's Customer Due Diligence for Banks Paper recommend the banker take prior to opening Oils correspondent account? 1. Conduct a site visit and meet all the principals and beneficial owners in person. 2. Verify the bank has a physical presence in the country where it is incorporated. 3. Confirm the bank is subject to regulatory supervision with adequate anti-money laundering laws. 4. Obtain and maintain a complete listing of the correspondent bank's customers, including politically exposed persons. A. 1 and 2 only. B. 1 and 4 only. C. 2 and 3 only. D. 3 and 4 only. Answer: C CAMS Dumps, CAMS Question Answers

7. Sample Question: 3 A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action? A. Terminate the teller's (cashier's) employment prior to the expiration of the probation period. B. An audit should be conducted for cash transactions since the last compliance review. C. The branch manager should be formally reprimanded for failing to ensure proper instruction was given. D. The teller's (cashier's) employment should be suspended with pay pending appropriate training. Answer: C CAMS Dumps, CAMS Question Answers

8. Sample Question: 4 The Board of Directors for a small private bank has asked the management to no longer apply the identity requirements for high net worth individuals to protect their privacy. Which of the following Financial Action Task Force 40 Recommendations should cause an anti-money laundering specialist the most concern? A. Financial institutions should not warn their customers when information relating to them is being reported to the competent authorities. B. Financial institutions should not keep anonymous accounts. C. Financial institutions should maintain all necessary suspicious transaction report records on transactions, both domestic are international, for at least 5 years. D. If financial institutions suspect that funds stem from criminal activity, they should be required to close the account. Answer: B CAMS Dumps, CAMS Question Answers

9. Sample Question: 5 Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a: A. federal receiver" certifying that he is not the beneficial owner of the correspondent account. B. respondent bank, certifying that they do not do business with politically exposed persons. C. correspondent bank, certifying that they do not open correspondent accounts for alternative remittance companies. D. respondent bank, certifying that they do not do business with shell banks. Answer: C CAMS Dumps, CAMS Question Answers

10. Certified Anti-Money Laundering Specialist ACAMS CAMS Dumps