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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a globally recognized certification that demonstrates a professional's knowledge and expertise in the field of anti-money laundering (AML) and financial crime prevention. CAMS Exam is designed to assess the candidate's understanding of AML regulations, compliance procedures, and risk management strategies.

ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q19-Q24):

NEW QUESTION # 19
Which three definitions of money laundering are included in the expanded definition of the European Union Fourth Directive? (Choose three.)

A. The creation of shell companies to disguise the identity of its owners
B. The transfer of cash in excess of 15,000 euros across country borders regardless of whatever the cash was derived from criminal activity
C. Concealing or disguising the nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that the property is derived from criminal activity
D. The conversion or transfer of property with knowledge that it is derived from criminal activity
E. The acquisition or use of property knowing, when it was received, that it was derived from criminal activity

Answer: C,D,E

Explanation:
Explanation/Reference: https://books.google.com.pk/books?id=CMixCwAAQBAJ&pg=PA344&lpg=PA344&dq=european
+4th+directive+Concealing+or+disguising+the+nature,+source,+location,+disposition,+movement,+rights+with
+respect+to,+or+ownership+of+property,+knowing+that+the+property+is+derived+from+criminal
+activity&source=bl&ots=nOUQRszJ6_&sig=ACfU3U1NigFiOY5Zkj30B9FlPI1UhyUMEg&hl=en&sa=X&ved=2a hUKEwibgbi9op3oAhVPfH0KHV0wBXoQ6AEwAHoECBIQAQ#v=onepage&q=european%204th%20directive%
20Concealing%20or%20disguising%20the%20nature%2C%20source%2C%20location%2C%20disposition%
2C%20movement%2C%20rights%20with%20respect%20to%2C%20or%20ownership%20of%20property%2C
%20knowing%20that%20the%20property%20is%20derived%20from%20criminal%20activity&f=false

NEW QUESTION # 20
Which of the following competent authorities should directly receive suspicious or unusual transaction reports?

A. financial intelligence unit
B. central bank
C. an independent judge
D. law enforcement

Answer: A

Explanation:
According to the FATF Recommendations, the competent authority that should directly receive suspicious or unusual transaction reports is the financial intelligence unit (FIU). The FIU is a central, national agency responsible for receiving, analyzing and disseminating information related to money laundering and terrorist financing. The FIU should have operational independence and autonomy, and should be able to exchange information with other domestic and foreign authorities. The FIU should also provide feedback to the reporting entities on the use and value of their reports.: = CAMS Certification Package - 6th Edition | ACAMS1 CAMS Certifications: How to Get CAMS Certified | ACAMS2 ACAMS CAMS Certification Video Training Course - Exam-Labs3 Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)4 FATF Recommendations, Recommendation 29: Financial Intelligence Units
:
http://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF%20Recommendations%202012.
pdf

NEW QUESTION # 21
Which red flags should be considered prior to establishing a relationship with a third party? (Select Two.)

A. The third party has a lack of anti-corruption compliance clauses in agreements.
B. The third party has requested unusual payment or billing procedures.
C. The third party's amount to be paid for goods and services appears to be reasonable.
D. The third party has a declaration of non-family or business ties with government officials.
E. The third party has sufficient capability to provide the services or goods for which it is being engaged.

Answer: A,B

Explanation:
Explanation
The red flags that should be considered prior to establishing a relationship with a third party are the lack of anti-corruption compliance clauses in agreements (A) and unusual payment or billing procedures requested by the third party (C). According to the Certified Anti-Money Laundering Specialist (CAMS) Sixth Edition manual, "red flags include, but are not limited to: [...] lack of anti-corruption compliance clauses in agreements (page 330) and unusual payment or billing procedures requested by the third party (page 331)."

NEW QUESTION # 22
Which two aspects of the security broker dealer industry increase its exposure to money laundering? Choose 2 answers

A. Disposing of cash through securities purchases
B. The routine use of wire transfers from, to or through multiple jurisdictions
C. Fast paced transactions conducted electronically
D. They easy conversion of holdings to cash with significant loss of principal

Answer: A,C

NEW QUESTION # 23
A law enforcement agency is reviewing a suspicious transaction report (STR) filed by a financial institution for suspicious activity on a client's account. Subsequently, the agency requests further information.
Which supporting documentation might the law enforcement agency request from the institution to facilitate its investigation?

A. Account opening documents and account statements
B. A copy of the institution's STR policy and procedures
C. Copies of promotional materials sent to the customer
D. Previously filed STRs on the same customer

Answer: A

Explanation:
A law enforcement agency may request account opening documents and account statements from the institution to facilitate its investigation of a suspicious transaction report (STR). These documents can provide valuable information about the identity, background, source of funds, and transaction patterns of the customer, as well as any red flags or anomalies that may indicate money laundering or other criminal activities. Account opening documents may include identification documents, verification documents, customer due diligence forms, risk assessment forms, etc. Account statements may include transaction details, balances, fees, charges, etc.
ACAMS, CAMS Examination Study Guide, 6th Edition, Chapter 4, pp. 115-116 FATF Guidance: The Role of Hawala and Other Similar Service Providers in Money Laundering and Terrorist Financing, October 20131, p. 20 Basel Committee on Banking Supervision, Sound management of risks related to money laundering and financing of terrorism, June 20172, p. 11

NEW QUESTION # 24
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