CAMS Exam Dumps | What indicates potential money laundering activity by a lawyer?

<< Prev Question Next Question >>

Question 225/304

What indicates potential money laundering activity by a lawyer?

A. A lawyer's trust account regularly receives wire transfers from unknown remitters in a high risk country and immediately redirects the same funds to the same remitters account in a low risk country

B. A lawyer's trust account receives a large value wire transfer from a publicly listed life insurance company and then immediately transfers the same funds out to an unknown individual in a low risk country

C. A lawyer's account in a low risk country receives a bank draft from another lawyer firm in a high risk country

D. A lawyer's account in a high risk country receives a cash deposit of an amount that is considerable below the reporting threshold

Question List (304q): Question 1: A suspicious transaction report has been filed on an account...; Question 2: What should a bank do if it suspects one of its employees ma...; Question 3: What does the Financial Action Task Force (FATF) urge its me...; Question 4: What are two requirements of United States financial institu...; Question 5: Which action should countries take related to the financing ...; Question 6: Three individuals enter a casino and use cash to purchase ch...; Question 7: A company contracts a life insurance policy with a savings f...; Question 8: A potential client calls a broker-dealer wishing to purchase...; Question 9: Which three entities does the Third European Union Money Lau...; Question 10: A law enforcement agent is conducting an investigation into ...; Question 11: With which person(s) should an anti-money laundering officer...; Question 12: Since its last regulatory examination, a financial instituti...; Question 13: When creating an anti-money laundering program for a foreign...; Question 14: A financial institution accepts new on-line customers. After...; Question 15: At a small community bank, the compliance officer identifies...; Question 16: A customer has held an account at a local credit institution...; Question 17: What describes the Black Market Peso Exchange money launderi...; Question 18: What should an effective anti-money laundering training prog...; Question 19: Which three methods are commonly used by an accountant to la...; Question 20: Which private banking situation requires due diligence actio...; Question 21: Once a financial institution has reported suspicious transac...; Question 22: A law enforcement agency is reviewing a suspicious transacti...; Question 23: An anti-money laundering specialist has been asked to create...; Question 24: What are two requirements for monitoring and reporting suspi...; Question 25: The Office of Foreign Assets Control requirements have an ex...; Question 26: The branch manager notices that a number of customers come i...; Question 27: Which three elements should be considered in an institution'...; Question 28: Law enforcement is conducting an investigation of a financia...; Question 29: The AML compliance officer of a financial institution (Fl) h...; Question 30: A charity has unaudited accounts. Which of the following rep...; Question 31: A popular restaurant in town has begun depositing less cash ...; Question 32: Which of the following provides anti-money laundering specia...; Question 33: A customer brings $15,000 worth of chips into a casino and p...; Question 34: Under the Wolfsberg Correspondent Banking Principles, which ...; Question 35: A financial institution is reorganizing and the anti-money l...; Question 36: A company is endorsing the execution of terrorism through di...; Question 37: A large financial institution (Fl) is considering expanding ...; Question 38: The Basel Committee on Banking Supervision issued a paper in...; Question 39: The USA PATRIOT Act requires United States (U.S.) financial ...; Question 40: AML training programs should extend beyond basic concepts to...; Question 41: Which statements regarding the USA PATRIOT ACT best describe...; Question 42: Which is the first valid step in the Mutual Legal Assistance...; Question 43: A customer has borrowed the cash surrender value of their li...; Question 44: Which step should be taken to understand the types of financ...; Question 45: Which principles of the Egmont Group of Financial Intelligen...; Question 46: The marketing department presents to an anti-money launderin...; Question 47: A new business opened an account at a bank. After a month of...; Question 48: Which are common types of economic sanctions? (Choose three....; Question 49: Based on the USA PATRIOT Act, what action might the US take ...; Question 50: An AML specialist at a financial institution is presented wi...; Question 51: The Wolfsberg Group has issued a number of documents since i...; Question 52: A non-US bank is implementing a sanctions compliance program...; Question 53: The compliance officer for a private bank has been tasked wi...; Question 54: Which assessments are involved in the processes of mutual ev...; Question 55: Historically, which vehicle is most often used to hide benef...; Question 56: When a bank performs a risk assessment, what areas should an...; Question 57: When considering sharing information across the institution ...; Question 58: How can a financial institution verify the nature and purpos...; Question 59: A law enforcement agency submits several requests to a finan...; Question 60: In many jurisdictions, financial institutions are prohibited...; Question 61: Which is the most severe consequence for a financial institu...; Question 62: A company service provider in Country A sets up a corporate ...; Question 63: The Financial Action Task Force recommends the incorporation...; Question 64: What are two risks to institutions for violating anti-money ...; Question 65: An EU Trust and Company Service Provider (TCSP) analyst noti...; Question 66: What action does the USA PATRIOT Act allow the US government...; Question 67: When an institution files an STR with regard to a particular...; Question 68: Which statements relate to the role of financial intelligenc...; Question 69: A bank employee reviews wire transactions looking for indica...; Question 70: A foreign bank's compliance officer receives a request for i...; Question 71: Which is often an indirect consequence of non-compliance wit...; Question 72: In which situation can money laundering adversely affect a c...; Question 73: Which of the following is considered a shell bank as defined...; Question 74: What correspondent banking risk factor increases the risk fo...; Question 75: Which is true about Financial Action Task Force (FATF)-Style...; Question 76: A new accounts representative recently opened an account for...; Question 77: The Wolfsberg Principles for Private Banking list circumstan...; Question 78: An institution has made the decision to exit a client relati...; Question 79: In order for a terrorist organization to move funds from Cyp...; Question 80: A director of a financial institution was convicted of laund...; Question 81: A compliance officer provides an overview of the bank's anti...; Question 82: When may Office of Foreign Assets Control (OFAC) sanctioned-...; Question 83: Which action indicates possible Penza scheme activity?...; Question 84: Which two aspects of precious metals pose the highest risk o...; Question 85: Which information must a United States financial institution...; Question 86: The compliance officer for a bank is reviewing on-boarding d...; Question 87: What are two aspects of the Wolfsberg Anti-Money Laundering ...; Question 88: Which of the following customer activities poses the highest...; Question 89: What is the term for trading through multiple accounts, wher...; Question 90: A bank located in Arizona is considering a loan application ...; Question 91: According to the Basel Committee on Banking Supervision stan...; Question 92: Who has the ultimate responsibility within a bank for ensuri...; Question 93: The compliance officer for a private bank has been tasked wi...; Question 94: Which product type is subject to US extra-jurisdictional rea...; Question 95: A new customer has just been onboarded in a securities firm....; Question 96: Which factors should lead to a reassessment of the current A...; Question 97: A high-volume dealer of precious metals and stones in a high...; Question 98: Which of the following is among the Financial Action Task Fo...; Question 99: With which of the following should an anti-money laundering ...; Question 100: Which are essential elements of a KYC program identified by ...; Question 101: Which step should financial institutions take when complying...; Question 102: What is a primary responsibility of a financial intelligence...; Question 103: A foreign politically exposed person (PEP) requests to add a...; Question 104: Which two actions should Financial Intelligence Units (FIUs)...; Question 105: In accordance with Financial Action Task Force (FATF) standa...; Question 106: Which three actions should employees be instructed to do dur...; Question 107: Which three procedures should a compliance officer looking t...; Question 108: A bank has opened a new account for a well-known attorney to...; Question 109: After several months of research, the Director of Marketing ...; Question 110: Which statement is true about when an institute becomes awar...; Question 111: The anti-money laundering compliance officer for a small mon...; Question 112: Trusts established in certain offshore jurisdictions make go...; Question 113: What should a financial institution (FI) do in response to a...; Question 114: An anti-money laundering specialist at a large institution i...; Question 115: A local law enforcement officer, who is conducting a crimina...; Question 116: In May 2002, the Wolfsberg Principles on Private Banking wer...; Question 117: After a FATF mutual evaluation process, which are resulting ...; Question 118: A profitable commercial customer who operates an import-expo...; Question 119: Which test should be included in a bank's Office of Foreign ...; Question 120: A benefit of using bearer shares in corporate formations is ...; Question 121: A national Financial Intelligence Unit, which is responsible...; Question 122: The local manager of a remote mortgage origination departmen...; Question 123: Which action should financial institutions with cross border...; Question 124: How should a compliance program respond to an AML audit find...; Question 125: A non-U.S. bank asks its U.S. correspondent whether there is...; Question 126: A customer opens a corporate account with a broker-dealer on...; Question 127: When a regulatory body requires international assistance in ...; Question 128: Which type of sanctions are most likely to be used in order ...; Question 129: Which response represents a high-level principle for FATF-St...; Question 130: Which three do the Office of Foreign Asset Control regulatio...; Question 131: Which risk factors are considered when assessing risk rating...; Question 132: Which Trust parties should be identified to determine the tr...; Question 133: An internal investigation log is primarily intended to:...; Question 134: How should a financial institution respond to a verbal reque...; Question 135: Which three are the most commonly used risk criteria?...; Question 136: What are two requirements with respect to supporting documen...; Question 137: A banker in the credit department wants to assess the risk o...; Question 138: To what extent should senior management and the Board of Dir...; Question 139: In its paper. Customer Due Diligence for Banks, the Basel Co...; 1 commentQuestion 140: Which is an objective of the Financial Action Task Force (FA...; Question 141: Which transaction monitoring processes would alert a bank fo...; Question 142: According to the USA PATRIOT Act, under which condition woul...; Question 143: A financial institution (FI) has decided to revamp its compl...; Question 144: An account officer who maintains an excellent relationship w...; Question 145: A bank located in New York has identified suspicious transac...; Question 146: A government has instituted a new anti-money laundering laws...; Question 147: What should an employee do after witnessing suspicious activ...; Question 148: In the FATF 40 recommendations, the focus of AML efforts has...; Question 149: A long-term client of an insurance company makes changes to ...; Question 150: What are two reasons physical certificates present a money l...; Question 151: What action does the USA PATRIOT Act allow the US government...; Question 152: The new compliance officer has reviewed the bank's anti-mone...; Question 153: Which of the following is the main reason Internet gambling ...; Question 154: An oil exploration company based in France does business wit...; Question 155: What is a tool governments and multi-national bodies can use...; Question 156: When assessing and managing money laundering risks while ope...; Question 157: An anti-money laundering specialist at a large institution i...; Question 158: How does the Financial Action Task Force (FAT F) measure the...; Question 159: An AML compliance officer receives notice of government upda...; Question 160: During the course of work on behalf of a client, a lawyer pa...; Question 161: Which two steps should a financial institution take when it ...; Question 162: A law enforcement agency is reviewing a suspicious transacti...; Question 163: The AML investigator is reviewing the transaction monitoring...; Question 164: A precious metals dealer opens a new account with a bank. Wh...; Question 165: An institution is about to release a new peer to peer (P2P) ...; Question 166: A bank's transaction surveillance system triggers an alert f...; Question 167: A bank compliance officer discovers cash deposit activity in...; Question 168: Which economic and social factors could create a dependency ...; Question 169: When performing an investigation, which key steps should be ...; Question 170: While conducting a review of a medium-risk customer, an anal...; Question 171: A compliance officer learns from an Information Technology (...; Question 172: What is an example of a legal risk a financial institution (...; Question 173: An offshore company is owned by four equal partners that res...; Question 174: Which three should real estate agents include in the criteri...; Question 175: Which of the following activities conducted at a financial i...; Question 176: Under which two circumstances may law enforcement be given a...; Question 177: A relationship manager in a bank has had a private banking c...; Question 178: According to recommendations from the Financial Action Task ...; Question 179: A United States (U.S.) bank was recently alerted by law enfo...; Question 180: What are three potential issues for foreign financial instit...; Question 181: A client who owns a swimming pool company requests to open 1...; Question 182: A high-profile, successful entrepreneur has been a client of...; Question 183: What can a compliance officer do in the absence of automated...; Question 184: When should a financial institution (FI) exit a relationship...; Question 185: Which of the following is the best action to take regarding ...; Question 186: Which key aspect of the Office of Foreign Assets Control's e...; Question 187: When investigating an AML event, which techniques would be u...; Question 188: As a result of an audit, a policy exception was identified t...; Question 189: Which of the following employee behaviors would not trigger ...; Question 190: What three attributes do havens for money laundering and ter...; Question 191: Historically, which of the following vehicles is most often ...; Question 192: An accounting firm opened an account at a bank that is inten...; Question 193: Money laundering can cause which consequences for a financia...; Question 194: A division anti-money laundering officer for a financial ins...; Question 195: Bank A is a non-United States (U.S.) bank that has $5 millio...; Question 196: An AML training program should include which requirement?...; Question 197: Which of the following best describes the Basel Committee on...; Question 198: A US casino customer has won 55,518 USD. The customer goes t...; Question 199: Which method to launder money through deposit-taking institu...; Question 200: What is the most effective criterion for determining the ben...; Question 201: Which action does the Financial Action Task Force call on me...; Question 202: Release of the EU's Fourth AML Directive resulted in what ch...; Question 203: FATF recommends the incorporation of some measures in custom...; Question 204: A compliance analyst is reviewing recent activity between a ...; Question 205: An organization uses an automated surveillance system that g...; Question 206: Which regulatory bodies cooperate when dealing with cross-bo...; Question 207: What does designing a country as being of "prime money laund...; Question 208: According to the Financial Action Task Force, financial inst...; Question 209: Which element is generally required of all anti-money launde...; Question 210: A financial institution opens a mortgage loan for a customer...; Question 211: An anti-money laundering specialist is concerned that severa...; Question 212: Which are key objectives of the Egmont Group? (Select Two.)...; Question 213: According to the 5th EU Money Laundering Directive, member s...; Question 214: Client A is flagged for a high volume of outgoing transfers....; Question 215: The branch manager calls the compliance officer and informs ...; Question 216: Which activity associated with new or developing technologie...; Question 217: Which safeguard is in place for Financial Intelligence Units...; Question 218: Law enforcement is confidentially investigating 20 individua...; Question 219: A student contacts a real estate broker to view a home but c...; Question 220: When providing reporting of STRs to the board, which of the ...; Question 221: Which factor should a bank consider before sharing informati...; Question 222: Which should a financial institution implement in order to i...; Question 223: Which scenario should be escalated as potentially suspicious...; Question 224: The anti-money laundering specialist of a small bank has ide...; Question 225: What indicates potential money laundering activity by a lawy...; Question 226: Which approach ensures the successful implementation of a tr...; Question 227: What is the appropriate compliance control for identifying p...; Question 228: A bank received a subpoena regarding one of its clients. The...; Question 229: An existing customer has changed its business scope and juri...; Question 230: Separating illicit proceeds from their source by a series of...; Question 231: A bank sells reloadable open-loop prepaid cards to both cust...; Question 232: Why is the Mutual Legal Assistance Treaty (MLAT) a gateway f...; Question 233: Which practices are dealers in antiques, precious metals, pr...; Question 234: According to the European Union Money Laundering Directives,...; Question 235: Which transaction should result in a suspicious activity rep...; Question 236: In addition to monitoring for suspicious activity, what are ...; Question 237: Which method is indicative of potential money laundering and...; Question 238: A bank employee recently opened an account for a new restaur...; Question 239: Which type of sanctions are likely to be used first in order...; Question 240: Cybersecurity risk can result in identity theft by:...; Question 241: A bank in an offshore jurisdiction approaches an institution...; Question 242: To understand if the customer operates in line with the firm...; Question 243: Which principles should be included in a FATF-Style Regional...; Question 244: Which activities conducted by a lawyer could be a red flag f...; Question 245: Which is a FATF characteristic used to assess a country's ef...; Question 246: Which red flag should a compliance officer prioritize first ...; Question 247: OFAC-issued regulations apply to which entities? (Choose two...; Question 248: Why are Money Services Business (MSBs) frequently accused of...; Question 249: Which are the two most common controls a financial instituti...; Question 250: Which of the following activities is most likely associated ...; Question 251: In which two ways do Financial Action Task Force-style regio...; Question 252: The Chief Compliance Officer (CCO) of a financial institutio...; Question 253: In performing a risk analysis, which factor(s) should a fina...; Question 254: What kind of person should perform the independent testing o...; Question 255: Which aspect of the USA PATRIOT Act impacts foreign financia...; Question 256: Which principle about safeguarding privacy and data should a...; Question 257: A local law enforcement officer notifies the bank compliance...; Question 258: How does the Egmont Group assist financial intelligence unit...; Question 259: When implementing a risk-based approach related to casinos, ...; Question 260: What does the Egmont Group's support for its members include...; Question 261: Money laundering red flags associated with money service bus...; Question 262: A quarterly review is conducted on a retail customers accoun...; Question 263: Which of the following customer transactions with a securiti...; Question 264: An audit completed the previous week revealed that a private...; Question 265: What is a key objective of the Egmont Group?...; Question 266: What is an indicator of suspicious activity?...; Question 267: What is a major economic consequence of money laundering thr...; Question 268: What should countries do to help prevent non-profit organiza...; Question 269: A compliance analyst has recently investigated an account wh...; Question 270: A customer's registered business activity is a domestic carp...; Question 271: What are the regulatory risks to a bank employee who willful...; Question 272: A compliance officer is developing an anti-money laundering ...; Question 273: An immigrant residing in the United States opens a bank acco...; Question 274: A company service provider in Country A sets up a corporate ...; Question 275: A branch manager for a small community bank has a new custom...; Question 276: Upon a routine account review a money laundering investigato...; Question 277: An anti-money laundering consultant audits a bank's current ...; Question 278: A politically exposed person (PEP) maintains an account at a...; Question 279: a personal banking customer who simultaneously opens several...; Question 280: A bank maintains a relationship with a customer who owns a s...; Question 281: Normal account-opening procedures reveal a customer who cont...; Question 282: A typical red flag regarding potential money laundering in c...; Question 283: Customers of a telecommunications firm received an email exp...; Question 284: Which red flags should be considered prior to establishing a...; Question 285: According to the Financial Action Task Force 40 Recommendati...; Question 286: Which of the following reflect money laundering risk indicat...; Question 287: What core objective does the Egmont Group suggest would lead...; Question 288: When an existing customer becomes a politically exposed pers...; Question 289: A customer of a bank is an established art dealer. Within th...; Question 290: A bank's anti-money laundering section receives an anonymous...; Question 291: Which of the following poses the greatest money laundering r...; Question 292: On who does the ultimate responsibility for an institution's...; Question 293: Which two methods have terrorist groups used to diversify th...; Question 294: What does the Basel Committee's Customer Due Diligence for B...; Question 295: Which trading pattern may be indicative of money laundering ...; Question 296: An anti-money laundering specialist notes a significant redu...; Question 297: A bank provides trade financing for a company whose primary ...; Question 298: A country that does not have strong predicate offenses and i...; Question 299: To ensure that an institution's anti-money laundering progra...; Question 300: Following a recent exercise which explained how a correspond...; Question 301: A European Union (EU) bank has a correspondent banking relat...; Question 302: A money transmitter's nation-wide agent network remits funds...; Question 303: Which three conduits for moving terrorist-related funds do t...; Question 304: A well-developed anti-money laundering compliance program is...

Question 225/304

LEAVE A REPLY

Download PDF File