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Certification CAMS Dumps & CAMS Valid Test Registration

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The go-to resource for effective and efficient ACAMS exam preparation is TestInsides ACAMS CAMS practice material in three formats. Our updated ACAMS questions are available in these three different formats: web-based practice test, desktop practice exam software, and ACAMS PDF file of real exam questions. The goal of these formats is to aid test candidates in preparing for the ACAMS CAMS test according their styles.

The CAMS certification is designed for professionals who work in anti-money laundering (AML), counter-terrorism financing (CTF), and financial crime prevention. CAMS exam covers a wide range of topics including AML regulations, AML compliance programs, risk assessment, customer due diligence, transaction monitoring, and sanctions screening. CAMS exam also tests the candidate's ability to analyze complex financial crime scenarios and to apply the latest AML/CTF techniques and technologies to prevent and detect financial crime.

Passing the ACAMS CAMS Exam is a significant achievement for individuals working in AML compliance. It demonstrates a commitment to excellence and professionalism in the field, as well as a dedication to staying up-to-date with the latest developments and best practices. It also opens up new career opportunities, as many employers require or prefer candidates who hold the CAMS certification.

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CAMS Valid Test Registration - CAMS Exam Question

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q628-Q633):

NEW QUESTION # 628
Which requirement is included in the Fourth European Union Directive on money laundering?

A. It requires member states to enact economic sanctions against countries that do not cooperate with Financial Action Task Force recommendations
B. It requires obliged entities to consider politically exposed persons as high risk for life
C. It requires obliged entities to conduct enhanced due diligence on all prepaid card holders
D. It requires member countries to maintain registries of the beneficial owners of legal entities

Answer: D

Explanation:
The Fourth European Union Directive on money laundering (AMLD4) requires member countries to maintain registries of the beneficial owners of legal entities, such as companies, trusts, foundations, etc. This is to ensure that the true identity and ownership of the customers and the natural persons on whose behalf transactions are conducted are known to the obliged entities, such as banks, lawyers, accountants, etc., and to the competent authorities, such as regulators, supervisors, or law enforcement12. This requirement aims to prevent the misuse of legal entities for money laundering or terrorist financing purposes, and to enhance transparency and access to beneficial ownership information34.
References: 1: AMLD4, Article 30, 5; 2: AMLD4, Recital 25, 5; 3: AMLD4, Recital 26, 5; 4: AMLD4, Recital 27, 5.
Reference: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32018L0843&from=EN

NEW QUESTION # 629
Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a wellknown philanthropist.
To whom should the investigator escalate these concerns?

A. Audit committee
B. The owner of the auto repair shop
C. The bank anti-money laundering officer
D. Chairman of the Board

Answer: A

NEW QUESTION # 630
What are three elements of a sound Customer Due Diligence Program?

A. Obtaining date of birth and address of a prospective customer
B. Training as to how and to what extent to identify prospective customers
C. Determination of who in the institution should be assigned to the prospective customer as aliaison
D. Determination of what type of customer the financial institution will accept

Answer: A,B,D

NEW QUESTION # 631
What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?

A. Apply economic sanctions until otherwise notified by FATF
B. Cease doing business with that jurisdiction immediately
C. Consider customers from that jurisdiction as high risk
D. Apply counter-measures to that jurisdiction

Answer: D

Explanation:
The FATF is an inter-governmental body that sets standards and promotes effective implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system1. The FATF identifies jurisdictions with serious strategic deficiencies in their anti-money laundering / counter financing of terrorism (AML/CFT) regimes and issues public statements to warn the international community of the risks emanating from these jurisdictions2. These jurisdictions are also known as high-risk jurisdictions subject to a call for action, or the "black list" in external sources2. The FATF urges its members and all other jurisdictions to apply counter-measures to protect themselves from the money laundering and terrorist financing risks posed by these jurisdictions2. Counter-measures are enhanced due diligence or restrictive measures that go beyond the normal AML/CFT requirements, such as requiring additional information or documentation, rejecting transactions, restricting business relationships, or terminating correspondent banking relationships3. The FATF also provides guidance on the types and levels of counter-measures that may be appropriate, depending on the specific risks and circumstances of each jurisdiction3.
References:
1: What is the FATF? | FATF
2: High-Risk Jurisdictions subject to a Call for Action | FATF
3: Guidance on Counter Proliferation Financing - The Implementation of Financial Provisions of United Nations Security Council Resolutions to Counter the Proliferation of Weapons of Mass Destruction | FATF

NEW QUESTION # 632
A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.
What is the correct next course of action?

A. Get as much information as possible from the source so that potential risks can be researched and a report prepared and presented to the head of marketing.
B. Go to the board of directors and try to shut the new service down immediately because the committee did not communicate with the compliance officer.
C. Start initial research into potential risks but wait until notified that the service has been approved by the committee before initiating extensive research.
D. Request that the new product approval committee include the compliance officer.

Answer: D

Explanation:
The correct next course of action is to request that the new product approval committee include the compliance officer. This is because the compliance officer has the responsibility to ensure that the new financial service complies with the applicable laws, regulations, and standards, and does not pose any undue risks to the institution or its customers. The compliance officer should be involved in the new product development process from the beginning, and provide guidance and feedback on the potential compliance implications and requirements of the new service12.
Reference:
1: CAMS Certification Package - 6th Edition | ACAMS, Chapter 6: Developing an Effective Anti-Money Laundering Program, p. 121-122 2: FATF Guidance: The Role of Hawala and Other Similar Service Providers in Money Laundering and Terrorist Financing, October 2013, p. 28, http://www.fatf-gafi.org/media/fatf/documents/reports/Role-of-hawala-and-similar-in-ml-tf.pdf

NEW QUESTION # 633
......

Are you aware of the importance of the CAMS certification? If your answer is not, you may place yourself at the risk of be eliminated by the labor market. Because more and more companies start to pay high attention to the ability of their workers, and the CAMS certification is the main reflection of your ability. If you want to maintain your job or get a better job for making a living for your family, it is urgent for you to try your best to get the CAMS Certification. We are glad to help you get the certification with our best CAMS study materials successfully.

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