CAMS Exam Dumps | According to the Financial Action Task Force methodology, which situations would require a financial

<< Prev Question Next Question >>

Question 303/374

According to the Financial Action Task Force methodology, which situations would require a financial institution (FI) to consider filing a suspicious activity report?

A. A beneficiary of a transaction is a politically exposed person.

B. A transaction involves funds exchanged from crypto to fiat currencies.

C. A FI identifies the payer is a dealer in precious metals or stones.

D. A FI is unable to verify the relevant customer due diligence documents.

Question List (374q): Question 1: A financial institution's (Fl's) policy is to apply enhanced...; Question 2: A bank maintains a relationship with a customer who owns a s...; Question 3: The Basel Committee on Banking Supervision published guideli...; Question 4: Which test should be included in a bank's Office of Foreign ...; Question 5: When should a financial institution (FI) exit a relationship...; Question 6: A suspicious transaction report filed on a car dealer struct...; Question 7: Which three elements should be considered in an institution'...; Question 8: Which red flags could indicate increased terror financing an...; Question 9: A recruitment manager in the human resources department of a...; Question 10: What should countries do to help prevent non-profit organiza...; Question 11: What are two requirements for monitoring and reporting suspi...; Question 12: Which primary international authoritative body designates sa...; Question 13: What is the primary action a financial institution should ta...; Question 14: Which of the following is a red flag indicating potential mo...; Question 15: Trusts established in certain offshore jurisdictions make go...; Question 16: An international bank is headquartered in Madrid, Spain, wit...; Question 17: Which three entities does the Third European Union Money Lau...; Question 18: What do Financial Action Task Force (FATF)-style regional bo...; Question 19: An existing customer has changed its business scope and juri...; Question 20: Which three are the most commonly used risk criteria?...; Question 21: According to Basel Committee on Banking Supervision's Custom...; Question 22: A bank in an offshore jurisdiction approaches an institution...; Question 23: The Wolfsberg Principles for Private Banking list circumstan...; Question 24: According to FinCEN, which red flags within a bank account m...; Question 25: Which red flags could indicate increased terrorist financing...; Question 26: A company is endorsing the execution of terrorism through di...; Question 27: A law enforcement agency is reviewing a suspicious transacti...; Question 28: Which information should be gathered as part of enhanced due...; Question 29: According to Basel Committee guidelines, which level of the ...; Question 30: The branch manager notices that a number of customers come i...; Question 31: Which requirement is included in the Fourth European Union D...; Question 32: When an existing customer becomes a politically exposed pers...; Question 33: A bank account is established for a new business customer. T...; Question 34: Three individuals enter a casino and use cash to purchase ch...; Question 35: According to the Financial Action Task Force 40 Recommendati...; Question 36: When an institution receives a document request from law enf...; Question 37: Which of the following scenarios warrants enhanced due dilig...; Question 38: Which of the following is the most likely reason for the Fin...; Question 39: The marketing department presents to an anti-money launderin...; Question 40: What should an effective anti-money laundering training prog...; Question 41: What action should a bank CEO's assistant take when the bank...; Question 42: Which method do terrorist financiers use to move funds witho...; Question 43: What does the Basel Committee's Customer Due Diligence for B...; Question 44: In May 2002, the Wolfsberg Principles on Private Banking wer...; Question 45: Bank A is located in Country A. A wire transfer from Bank B ...; Question 46: The AML investigator is reviewing the transaction monitoring...; Question 47: Which step should financial institutions take when complying...; Question 48: Under which two circumstances may law enforcement be given a...; Question 49: Which suspicious activity may be the strongest indicator of ...; Question 50: A recent anti-money laundering audit revealed several regula...; Question 51: Which of the following competent authorities should directly...; Question 52: A compliance officer is conducting a review of the automated...; Question 53: Which type of sanctions are most likely to be used in order ...; Question 54: An AML analyst at a bank is investigating cases triggered by...; Question 55: According to the Financial Action Task Force 40 Recommendati...; Question 56: According to the Financial Action Task Force, as part of the...; Question 57: A credit institution has been served with a preliminary find...; Question 58: A compliance officer was recently reviewing transactional da...; Question 59: Which is an extraterritorial function of Office of Foreign A...; Question 60: Which two statements in the Wolfsberg Group's "Suppression o...; Question 61: What is a tool governments and multi-national bodies can use...; Question 62: When a government imposes economic sanctions on a target, th...; Question 63: An anti-money laundering consultant audits a bank's current ...; Question 64: How should a compliance officer respond to law enforcement a...; Question 65: On discovering employees had unintentionally provided assist...; Question 66: Under the USA PATRIOT Act, in which scenario would the US no...; Question 67: Under the Egmont Group Principles, information exchange amon...; Question 68: What kind of person should perform the independent testing o...; Question 69: A client opens a bank account for a multi-level marketing co...; Question 70: Which of the following are risk factors a financial institut...; Question 71: What is the term for trading through multiple accounts, wher...; Question 72: A commission rogatory would be used in which gateway to obta...; Question 73: The most effective tool used to detect structured transactio...; Question 74: Which method is used to launder money in casinos?...; Question 75: A bank located in New York has identified suspicious transac...; Question 76: An institution has made the decision to exit a client relati...; Question 77: Which method to launder money through deposit-taking institu...; Question 78: Which activities conducted by a lawyer could be a red flag f...; Question 79: What are two requirements of United States financial institu...; Question 80: The USA PATRIOT Act requires United States (U.S.) financial ...; Question 81: To understand if the customer operates in line with the firm...; Question 82: A financial institution (FI) is conducting a complex investi...; Question 83: A student contacts a real estate broker to view a home but c...; Question 84: A bank teller receives a written request from a police offic...; Question 85: Why are Money Services Business (MSBs) frequently accused of...; Question 86: Which is an indicator that there is an attempt to conceal a ...; Question 87: A bank in the Netherlands has been requested to share inform...; Question 88: Which operational situation might indicate that money launde...; Question 89: Which three procedures should a compliance officer looking t...; Question 90: Which of the following activities are considered money laund...; Question 91: The new compliance officer has reviewed the bank's anti-mone...; Question 92: A European Union (EU) bank has a correspondent banking relat...; Question 93: What are two requirements with respect to supporting documen...; Question 94: An AML compliance officer receives notice of government upda...; Question 95: After a FATF mutual evaluation process, which are resulting ...; Question 96: Which activities could be considered a potential spear phish...; Question 97: Which is a key goal of EU Directives on money laundering?...; Question 98: An internal investigation log is primarily intended to:...; Question 99: Based on studies executed by the Organization for Economic C...; Question 100: A high volume of incoming wire transfers generates an alert ...; Question 101: According to the Financial Action Task Force (FATF) methodol...; Question 102: A non-US bank is implementing a sanctions compliance program...; Question 103: Which trading pattern may be indicative of money laundering ...; Question 104: A customer has held an account at a bank and has lived local...; Question 105: How should a financial institution deter money laundering th...; Question 106: Which of the following is among the Financial Action Task Fo...; Question 107: An anti-money laundering specialist has just developed and i...; Question 108: When using virtual assets such as Bitcoin to finance terrori...; Question 109: What is a primary responsibility of a financial intelligence...; Question 110: An anti-money laundering specialist at a large institution i...; Question 111: Which section of the USA PATRIOT Act permits the U.S. govern...; Question 112: Which statements describe risks that are associated with int...; Question 113: A foreign bank maintains a correspondent account in the US. ...; Question 114: A U.S. bank recently received a regulatory order to remediat...; Question 115: The compliance officer for a private bank has been tasked wi...; Question 116: A law enforcement action alleged that, over the course of tw...; Question 117: Why is the Mutual Legal Assistance Treaty (MLAT) a gateway f...; Question 118: An anti-money laundering specialist notes a significant redu...; Question 119: Which assessments are involved in the processes of mutual ev...; Question 120: A Financial Intelligence Unit (FIU) in a country has receive...; Question 121: According to the Financial Action Task Force 40 Recommendati...; Question 122: Which information must a United States financial institution...; Question 123: The manager of a bank's KYC team discovers that a high-risk ...; Question 124: What should senior management do in order to promote a cultu...; Question 125: What are the regulatory risks to a bank employee who willful...; Question 126: Which of the following are the most suspicious transaction i...; Question 127: What is an essential element of Know Your Customer (KYC) sta...; Question 128: What is the most effective criterion for determining the ben...; Question 129: The branch manager calls the compliance officer and informs ...; Question 130: Which principles of the Egmont Group of Financial Intelligen...; Question 131: Which method to finance terrorism involves falsifying transa...; Question 132: Potential indicators of money laundering associated with Tru...; Question 133: A U.S. bank recently received a regulatory order to remediat...; Question 134: Under requirements for correspondent accounts in the USA PAT...; Question 135: A financial institution is reorganizing and the anti-money l...; Question 136: Which product is considered to be of highest money launderin...; Question 137: An oil exploration company based in France does business wit...; Question 138: Sanctions screening requirements include that a financial in...; Question 139: Which measure to mitigate risk does the Basel Committee's Cu...; Question 140: A legal instrument that is executed between two nations and ...; Question 141: Before providing suspicious activity report documentation to...; Question 142: What is the relationship between the EU Anti-Money Launderin...; Question 143: A financial institution has expanded its scope of services s...; Question 144: Upon filing a suspicious transaction report, which of th€ f...; Question 145: A Financial Intelligence Unit (FIU) in a country receives a ...; Question 146: An internal review of anti-money laundering training documen...; Question 147: A client is a wholesale auto business that operates as a use...; Question 148: According to the Basel Committee, customer acceptance, custo...; Question 149: A compliance analyst has recently investigated an account wh...; Question 150: What correspondent banking risk factor increases the risk fo...; Question 151: Which statement about a multinational institution's ability ...; Question 152: To ensure that an institution's anti-money laundering progra...; Question 153: The local manager of a remote mortgage origination departmen...; Question 154: Which action by a prospective customer during the account op...; Question 155: The AML compliance officer of a financial institution (Fl) h...; Question 156: An anti-money laundering specialist has been hired by an ind...; Question 157: A high-volume dealer of precious metals and stones in a high...; Question 158: Which elements can trigger a review of the existing relation...; Question 159: Which payment method for purchasing luxury items is a red fl...; Question 160: What indicates potential money laundering activity by a lawy...; Question 161: A charity has unaudited accounts. Which of the following rep...; Question 162: What should an employee do after witnessing suspicious activ...; Question 163: The bank's internal financial intelligence unit (FIU) has re...; Question 164: Which step should financial institutions take when complying...; Question 165: A country that does not have strong predicate offenses and i...; Question 166: A bank received a subpoena regarding one of its clients. The...; Question 167: Which of the following corporate structures present a higher...; Question 168: When an institution files an STR with regard to a particular...; Question 169: Which of the following customer activities poses the highest...; Question 170: A customer has held an account at a local credit institution...; Question 171: Which two factors assist a money laundering investigation th...; Question 172: A bank provides trade financing for a company whose primary ...; Question 173: Why do governments and multi-national bodies impose economic...; Question 174: How should a financial institution respond to a verbal reque...; Question 175: When performing a risk assessment, which factors should be c...; Question 176: According to the Basel Committee on Banking Supervision, ban...; Question 177: Which three conduits for moving terrorist-related funds do t...; Question 178: Law enforcement is conducting an investigation of a financia...; Question 179: An EU Trust and Company Service Provider (TCSP) analyst noti...; Question 180: Which statement is the most accurate in describing who must ...; Question 181: A country that does not have strong predicate offenses and i...; Question 182: How can a 'free-look provision' as part of a life insurance ...; Question 183: A banker in the credit department wants to assess the risk o...; Question 184: A new business opened an account at a bank. After a month of...; Question 185: Which three criteria does a shell bank meet according to the...; Question 186: Which statement about the extraterritorial reach of U.S. law...; Question 187: A key element required to ensure an anti-money laundering co...; Question 188: A financial institution accepts new on-line customers. After...; Question 189: A financial institution opens a mortgage loan for a customer...; Question 190: The Office of Foreign Assets Control requirements have an ex...; Question 191: What are two risks to institutions for violating anti-money ...; Question 192: Money laundering red flags associated with money service bus...; Question 193: A money remittance business will most likely attract money l...; Question 194: Which of the following statements is true regarding the 2012...; Question 195: Which two methods have terrorist groups used to diversify th...; Question 196: A non-U.S. bank asks its U.S. correspondent whether there is...; Question 197: What is a core function of a Financial Intelligence Unit (FI...; Question 198: The owner of a real estate investment company deposits multi...; Question 199: Which is the first valid step in the Mutual Legal Assistance...; Question 200: According to the Basel Committee on Banking Supervision stan...; Question 201: What is a method of placement that can be used by a money la...; Question 202: A compliance officer is reviewing the activity of the wire t...; Question 203: Separating illicit proceeds from their source by a series of...; Question 204: What should a financial institution (FI) do in response to a...; Question 205: FATF recommends the incorporation of some measures in custom...; Question 206: Financial Intelligence Units (FIUs) are responsible for:...; Question 207: Which situation would require enhanced due diligence be perf...; Question 208: What is an indicator of suspicious activity?...; Question 209: A Financial Intelligence Unit (FIU) in a country has receive...; Question 210: Which action does the Financial Action Task Force (FATF) rec...; Question 211: A client who owns a swimming pool company requests to open 1...; Question 212: What describes the Black Market Peso Exchange money launderi...; Question 213: Which type of formal agreement occurs between countries that...; Question 214: Which statement is true regarding the Financial Action Task ...; Question 215: Which is a FATF characteristic used to assess a country's ef...; Question 216: UN sanctions are the most effective and legitimate non-viole...; Question 217: What is an example of a legal risk a financial institution (...; Question 218: Which statement about U.S. Specified Unlawful Activities (SU...; Question 219: A customer's registered business activity is a domestic carp...; Question 220: Historically, a tour guide has made monthly cash deposits av...; Question 221: What is the importance of a risk-based approach (RBA) and bu...; Question 222: Which actions are involved when a prosecutor instructs a ban...; Question 223: A corporate services provider in a European Union (EU) count...; Question 224: A law enforcement agent is conducting an investigation into ...; Question 225: Which two steps should a financial institution take when it ...; Question 226: According to recommendations from the Financial Action Task ...; Question 227: In order to demonstrate commitment to AML compliance within ...; Question 228: A high-profile, successful entrepreneur has been a client of...; Question 229: A bank's transaction surveillance system triggers an alert f...; Question 230: A popular restaurant in town has begun depositing less cash ...; Question 231: Which of the following employee behaviors would not trigger ...; Question 232: A compliance officer of a financial institution is reviewing...; Question 233: Which is a valid extraterritorial effect of the USA PATRIOT ...; Question 234: According to the Basel Committee principles, which actions w...; Question 235: Which scenario best justifies why a customer's account might...; Question 236: A businessman requests a European private bank to open a num...; Question 237: Typical events to identify and investigate potential AML act...; Question 238: What are three potential issues for foreign financial instit...; Question 239: Which two factors should increase the risk of a corresponden...; Question 240: At a minimum, who should receive role-specific AML training?...; Question 241: Which is the first valid step in the Mutual Legal Assistance...; Question 242: Who meets the standard to perform the AML audit? (Select Two...; Question 243: Which of the following statements best describes the role of...; Question 244: A company contracts a life insurance policy with a savings f...; Question 245: A compliance officer identifies a potentially significant ri...; Question 246: What is a major economic consequence of money laundering thr...; Question 247: An AML analyst at a financial institution is examining an al...; Question 248: Why should a financial institution (Fl) require an update of...; Question 249: An account officer who maintains an excellent relationship w...; Question 250: When providing reporting of STRs to the board, which of the ...; Question 251: How does the Financial Action Task Force (FAT F) measure the...; Question 252: A financial institution recently purchased anti-money launde...; Question 253: Which insurance product is particularly vulnerable to money ...; Question 254: According to the 5th EU Money Laundering Directive, member s...; Question 255: In the summer, an institution identifies anti-money launderi...; Question 256: To ensure compliance with economic sanctions established by ...; Question 257: According to the Financial Action Task Force Special Recomme...; Question 258: An example of an external factor that will affect an organiz...; Question 259: Which section of the USA PATRIOT Act permits the U.S. govern...; Question 260: What is the currency threshold under the European Union Four...; Question 261: A customer of a bank is an established art dealer. Within th...; Question 262: A startup virtual currency exchange has registered as a mone...; Question 263: A United States (U.S.) bank was recently alerted by law enfo...; Question 264: Which section of the USA PATRIOT Act relates to forfeiture o...; Question 265: Which risks are involved in a correspondent banking client's...; Question 266: A customer living in a high-risk jurisdiction makes frequent...; Question 267: During an ongoing investigation into a client's activities b...; Question 268: A Trust and Company Service Provider (TCSP) providing servic...; Question 269: Which red flag is most relevant to money laundering through ...; Question 270: The regulators of a US financial institution find that the i...; Question 271: What are the rules imposed by the Office of Foreign Assets C...; Question 272: Which type of sanctions are likely to be used first in order...; Question 273: Gatekeepers, including accountants, can be well-positioned t...; Question 274: An international bank is investigating a payment requested b...; Question 275: Which two channels can be utilized during a cross-border mon...; Question 276: A branch manager for a small community bank has a new custom...; Question 277: Which scenario should be escalated as potentially suspicious...; Question 278: What does the Egmont Group's support for its members include...; Question 279: Which are red-flag indicators of possible money laundering t...; Question 280: A compliance officer provides an overview of the bank's anti...; Question 281: In addition to monitoring for suspicious activity, what are ...; Question 282: According to the Financial Action Task Force, which action m...; Question 283: A new compliance officer is reviewing the bank's anti-money ...; Question 284: Which changes at a financial institution (FI) should trigger...; Question 285: What are the roles of a government Financial Intelligence Un...; Question 286: Which are social/economic consequences of money laundering? ...; Question 287: Who bears the ultimate responsibility for approving a financ...; Question 288: A legal instrument executed between two nations governing cr...; Question 289: According to Basel Committee on Banking Supervision guidelin...; Question 290: An institution is about to release a new peer to peer (P2P) ...; Question 291: What is a key objective of the Egmont Group?...; Question 292: According to experts, what is the most effective way to prev...; Question 293: When performing an investigation, which key steps should be ...; Question 294: During a law enforcement investigative interview regarding p...; Question 295: The main purpose of the US Treasury Department for OFAC's ex...; Question 296: An agent of a wealthy individual from a high-risk country (a...; Question 297: A financial institution is designing an Enterprise-Wide Risk...; Question 298: Cybersecurity risk can result in identity theft by:...; Question 299: A junior account manager within an international private ban...; Question 300: Which factors specific to the securities industry increase t...; Question 301: What action does the USA PATRIOT Act allow the US government...; Question 302: Which three methods are commonly used by an accountant to la...; Question 303: According to the Financial Action Task Force methodology, wh...; Question 304: Which is the most severe consequence for a financial institu...; Question 305: Which activity would require an update to the first line tra...; Question 306: Which of the following is the financial stage of money laund...; Question 307: What should a bank do if it suspects one of its employees ma...; Question 308: Pursuant to the Third European Union Money Laundering Direct...; Question 309: One area of responsibility for the Board of Directors when i...; Question 310: Which key aspect of the Office of Foreign Assets Control's e...; Question 311: An AML specialist at a financial institution is presented wi...; Question 312: An auction house dealing in fine art and antiques sells a we...; Question 313: A foreign politically exposed person (PEP) requests to add a...; Question 314: Which scenario indicates potential money laundering activity...; Question 315: What is the appropriate compliance control for identifying p...; Question 316: Section 319(a) of the USA PATRIOT Act:...; Question 317: A law enforcement agency is conducting an investigation of a...; Question 318: Which suspicious activity may be the strongest indicator of ...; Question 319: How should law enforcement obtain documentation from an inst...; Question 320: A compliance officer at a large financial institution has be...; Question 321: Which principles should be included in a FATF-Style Regional...; Question 322: In accordance with Financial Action Task Force (FATF) standa...; Question 323: Which product type is subject to US extra-jurisdictional rea...; Question 324: A foreign bank's compliance officer receives a request for i...; Question 325: Normal account-opening procedures reveal a customer who cont...; Question 326: A director of a financial institution was convicted of laund...; Question 327: Money laundering can cause which consequences for a financia...; Question 328: Transfers of money over the last 6 months to a corporation i...; Question 329: A large financial institution (Fl) is considering expanding ...; Question 330: What are the most effective measures that can be taken to bo...; Question 331: What does designing a country as being of "prime money laund...; Question 332: The findings of an internal audit discover that a large grou...; Question 333: According to the European Union Money Laundering Directives,...; Question 334: Which of the following reflect money laundering risk indicat...; Question 335: Financial Action Task Force (FATF)-style regional bodies are...; Question 336: Which are common types of economic sanctions? (Choose three....; Question 337: When should new business products to evaluated for AML conce...; Question 338: What are two aspects of the Wolfsberg Anti-Money Laundering ...; Question 339: The board of directors receives notice from the primary regu...; Question 340: Which actions should be taken by a financial institution (FI...; Question 341: Which does the USA PATRIOT Act stipulate for foreign banks c...; Question 342: What reputational risk consequence could a financial entity ...; Question 343: a personal banking customer who simultaneously opens several...; Question 344: Which reputations risk consequence could a financial entity ...; Question 345: Which accurately describes the social and economic impacts o...; Question 346: Upon a routine account review a money laundering investigato...; Question 347: The bank's Compliance Officer is tasked with designing stand...; Question 348: Which unusual or suspicious activity by a financial institut...; Question 349: Which statements relate to the mandate, roles, and responsib...; Question 350: When should the anti-money laundering risk assessment be upd...; Question 351: An employee in a corporation's finance department hears news...; Question 352: A compliance officer for a casino may suspect money launderi...; Question 353: Which step should be taken to understand the types of financ...; Question 354: An anti-money laundering specialist has just developed and i...; Question 355: An anti-money laundering specialist has been asked to create...; Question 356: In which two ways does a government Financial Intelligence U...; Question 357: Who has the ultimate responsibility within a bank for ensuri...; Question 358: The Financial Action Task Force (FATF) routinely publishes a...; Question 359: Which are red flags indicating potential engagement of a ban...; Question 360: What was the topic the Wolfsberg Group's first guidance addr...; Question 361: When must a United States (U.S.) bank block or reject an int...; Question 362: The compliance department receives an internal referral that...; Question 363: A local law enforcement officer, who is conducting a crimina...; Question 364: Which is a red flag for funds transfers?...; Question 365: The Basel Committee on Banking Supervision issued a paper in...; Question 366: Which practices should financial institutions (FIs) adopt fo...; Question 367: After several months of research, the Director of Marketing ...; Question 368: Which factors should lead to a reassessment of the current A...; Question 369: Which activity is most likely to facilitate money laundering...; Question 370: When may Office of Foreign Assets Control (OFAC) sanctioned-...; Question 371: A prospective client walks into an accounting firm wanting t...; Question 372: Which of the following best describes the Basel Committee on...; Question 373: According to the Second European Union Money Laundering Dire...; Question 374: Which is a key reason why a financial institution (FI) condu...

Question 303/374

LEAVE A REPLY

Download PDF File