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The CAMS Certification Exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), the world's largest AML and financial crime prevention community. ACAMS provides a wide range of resources and training to help professionals prepare for the exam, including study materials, webinars, and in-person training sessions. Certified Anti-Money Laundering Specialists (the 6th edition) certification is valid for three years, after which the individual must recertify by completing continuing education credits.

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q345-Q350):

NEW QUESTION # 345
A customer has held an account at a bank and has lived locally for over 25 years. Historically he has come into the bank monthly to deposit a $1,500 retirement check from the company where he worked. He is well known at the bank and often brings the staff cookies. Over the past four months, he has come into the bank every Monday, Wednesday, and Thursday to make $3,000 cash deposits into his account. A review of his account shows that an $8,500 check made out to cash clears his account each week. The bank has decided to file a suspicious transaction report (STR).
What is the important fact to include in the STR?

Answer: A

Explanation:
The important fact to include in the STR is the recent change in the timing of deposits and withdrawals in the account, as this indicates a possible change in the customer's source and use of funds, and may suggest money laundering or other illicit activity. The customer's work history, the amount of his monthly retirement check, the fact that he is well known to the bank staff, and the fact that he has lived in the area and banked at this bank for 25 years are not relevant for the STR, as they do not explain the unusual pattern of transactions in his account.
References:
CAMS Certification Package - 6th Edition | ACAMS, Chapter 4: Conducting and Supporting the Investigation Process, page 131 CAMS Certifications: How to Get CAMS Certified | ACAMS, CAMS Examination Preparation, page 8 ACAMS CAMS Certification Video Training Course - Exam-Labs, Video 4.2: Suspicious Transaction Reporting Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition), Question 97


NEW QUESTION # 346
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?

Answer: C

Explanation:
Before disclosing any supporting documentation for a suspicious transaction report (STR) to a law enforcement agency, the financial institution should confirm thatthe request is legitimate and authorized by verifying the identity and credentials of the requester1. This is to prevent unauthorized access or misuse of the confidential information by impostors or fraudsters. The other options are not true, as they may either compromise the security, integrity, or timeliness of the disclosure, or violate the confidentiality or privacy rights of the customer.
:
ACAMS, CAMS Examination Study Guide, 6th Edition, Chapter 4, p. 117
FATF Guidance: The Role of Hawala and Other Similar Service Providers in Money Laundering and Terrorist Financing, October 20132, p. 20 Basel Committee on Banking Supervision, Sound management of risks related to money laundering and financing of terrorism, June 20173, p. 11 Reference:https://www.sec.gov/about/offices/ocie/aml2007/fin-2007-g003.pdf


NEW QUESTION # 347
A compliance officer is developing management reporting information to provide leadership with insights into the financial crime risk related to an institution's customer population.
Which of the following is a key risk indicator to include in the reporting to allow leadership to monitor whether there are any key changes to the inherent risk of the customer population? (Choose two.)

Answer: A,D

Explanation:
Percentage change in transaction monitoring alerts escalated for investigation and number/percentage of senior PEPs onboarded are key risk indicators that can highlight shifts in the inherent risk profile of the customer base, enabling leadership to proactively address emerging financial crime risks.


NEW QUESTION # 348
A suspicious transaction report has been filed on an account owned by the wife of the bank's ChiefExecutive Officer. Which of the following is the most important consideration when deciding whether to recommend closing the account?

Answer: C

Explanation:
The most important consideration when deciding whether to recommend closing the account is the institution's anti-money laundering policy. This is because the policy should provide clear and consistent criteria for account closure decisions, based on the risk assessment, the nature and severity of the suspicious activity, the customer due diligence information, and the legal and regulatory obligations of the institution.
The policy should also ensure that the account closure process is independent, objective, and transparent, and that it does not compromise the confidentiality of the suspicious transaction report or the investigation.
References: =
ACAMS Study Guide for the CAMS Certification Examination, 6th Edition, Chapter 5, Section 5.4.2, page 1971 ACAMS CAMS Certification Video Training Course, Module 5, Lesson 5.4, video time 9:00-10:302 ACAMS CAMS Certification Practice Exam, Question 145, page 2863


NEW QUESTION # 349
Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

Answer: A,B,C


NEW QUESTION # 350
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