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Valid CAMS Learning Materials | CAMS New Braindumps Free

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ACAMS CAMS Exam is a highly respected certification for professionals working in the anti-money laundering field. CAMS Exam covers a wide range of topics related to AML and requires a significant investment of time and effort to prepare for. However, earning the CAMS certification demonstrates a high level of expertise and commitment to the fight against financial crime and is a valuable asset for career advancement in the AML industry.

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[2025] ACAMS CAMS Questions: Fosters Your Exam Passing Skills

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q851-Q856):

NEW QUESTION # 851
What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?

A. The bank could see higher default rates on loans granted to companies owned by the fraudster.
B. The bank could be forced to reimburse the victims of the fraudster for the losses suffered.
C. Clients of the bank might draw down the reserves of the bank and lead to liquidity issues.
D. Foreign correspondents could terminate their relationships with the sanctioned bank.

Answer: B

Explanation:
Failure to report suspected fraud activity is a serious breach of the anti-money laundering (AML) and anti- fraud obligations of a financial institution (FI). It could expose the FI to legal risks, such as civil lawsuits, criminal prosecutions, regulatory sanctions, and reputational damage. One possible legal risk is that the FI could be held liable for the losses suffered by the victims of the fraudster, either by the victims themselves or by a third party acting on their behalf, such as a government agency or a class action representative. This could result in significant financial costs and damages for the FI, as well as loss of trust and confidence from its customers and stakeholders.
:
1: This web article explains what a suspicious activity report (SAR) is, who regulates it, when it is required, and what are the consequences of failing to file it.
2: This guide provides information on how to make a SAR, what to include, how to request a defence against money laundering (DAML), and what happens if you fail to report suspicious activity.
3: This blog post discusses the legal implications of not reporting an alleged crime, such as fraud, and gives examples of cases where individuals or entities were prosecuted or sued for their failure to report.

NEW QUESTION # 852
Which should authorities do to safeguard AML information exchanged with other countries?

A. Require the use of non-disclosure agreements with anyone accessing the exchanged information.
B. Protect exchanged information as they would protect similar information received from domestic sources.
C. Use the court system to ensure confidentiality of exchanged information through court orders.
D. Destroy the information once the investigation is complete.

Answer: A

NEW QUESTION # 853
Combating the Financing of Terrorism (CFT)]
Which product type is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

A. Commercial lending
B. Private banking
C. Correspondent banking
D. Trade finance

Answer: C

Explanation:
Correspondent banking is the product type that is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act. This is because correspondent banking involves the provision of banking services by one bank (the correspondent) to another bank (the respondent) or to the respondent's customers. Correspondent banking enables cross-border transactions and access to foreign financial systems, but also poses significant money laundering and terrorist financing risks due to the lack of transparency and accountability of the parties involved. The USA PATRIOT Act requires US financial institutions to apply enhanced due diligence measures to correspondent accounts for certain foreign banks, such as those operating under offshore banking licenses, those owned or controlled by foreign governments, or those of primary money laundering concern. These measures include obtaining information about the ownership, management, and anti-money laundering controls of the foreign bank, as well as the identity and activity of the customers using the correspondent account. The USA PATRIOT Act also authorizes the US Treasury to prohibit or impose conditions on the opening or maintaining of correspondent accounts for foreign banks that are involved in money laundering or terrorist financing activities.
References:
CAMS Study Guide, 6th Edition, Chapter 5, Section 5.2.1, p. 1611
Financial Crimes Enforcement Network; Anti-Money Laundering Programs; Special Due Diligence Programs for Certain Foreign Accounts, 31 CFR Part 103, RIN 1506-AA292
U.S. Extra-Jurisdictional Reach under the USA PATRIOT Act - Exam-Answer3

NEW QUESTION # 854
Combating the Financing of Terrorism (CFT)]
Which statement is true regarding the Financial Action Task Force standards for suspicious activity reports (SARs) information sharing within a financial group?

A. Financial institutions must require approval from regulators to share SARs information and supporting documentation.
B. Financial institutions should establish sufficient safeguards concerning the confidentiality of information shared for AML purposes.
C. Financial institutions cannot share customer information at all since it is confidential.
D. Financial institutions must retain copies of SARs and supporting documentation for five years from the date of filing the SARs.

Answer: B

Explanation:
According to the Financial Action Task Force (FATF) standards for suspicious activity reports (SARs) information sharing within a financial group, "Financial institutions should establish adequate procedures to ensure that confidentiality of information is maintained and that information is only used for purposes permitted under national law. Where the parent institution is located in a country that does not permit such sharing, financial institutions should take measures to address this limitation" (CAMS Manual, 6th Edition, page 476). Therefore, financial institutions must establish sufficient safeguards concerning the confidentiality of information shared for AML purposes.

NEW QUESTION # 855
A money remittance business will most likely attract money launderers because it:

A. conducts transactions for walk-in customers.
B. deals primarily in cash transactions.
C. does not have to comply with transaction reporting.
D. engages in international transactions.

Answer: A,B,D

NEW QUESTION # 856
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