CAMS Exam Dumps | What is the most effective criterion for determining the beneficial ownership of funds?

<< Prev Question Next Question >>

Question 128/374

What is the most effective criterion for determining the beneficial ownership of funds?

A. Having signature authority over the account

B. Being the person in whose name an account is opened with a financial institution

C. Having control over such funds or entitlement to such funds

D. Being a person who is the trusted party in a correspondent banking relationship

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 128/374

LEAVE A REPLY

Download PDF File