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To be eligible for the CAMS certification exam, candidates must have relevant work experience in the field of anti-money laundering or financial crime prevention. Certified Anti-Money Laundering Specialists certification is ideal for individuals who want to advance their careers in financial services or compliance. CAMS exam consists of multiple-choice questions and is delivered online, making it easily accessible for candidates around the world. Passing the CAMS exam demonstrates a candidate's expertise in anti-money laundering and financial crime prevention, and can lead to higher salaries, greater job opportunities, and increased professional credibility.

The CAMS Exam is a comprehensive test that covers a wide range of topics related to AML, including federal and international AML laws and regulations, financial crimes, compliance programs, and risk assessments. CAMS exam consists of 120 multiple-choice questions that must be completed within four hours. Candidates must answer at least 75% of the questions correctly to pass the exam and earn the CAMS certification.

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q707-Q712):

NEW QUESTION # 707
Bank A is located in Country A. A wire transfer from Bank B located in Country B is processes by Bank A,where the funds are being moved to a customer at Bank C located in Country C. The wire transfer isdeemed suspicious by Bank A.

A. The transaction in Country A.
B. The transaction in Country B.
C. Bank B in Country A.
D. Bank C in Country C.

Answer: A

Explanation:
Explanation
Another simpler way of looking at the problem is by seeing this case as a Correspondent Banking relationship:
-A is the primary correspondent bank.
-B is the respondent bank.
-C is the receiving bank (of the wire transfer).
Since A is conducting the transaction on behalf of B's customer via the correspondent relationship deemed suspicious, it is the transaction in Country A by the correspondent bank that files the STR. Also, per the regular process, it is on the transaction, not the bank, that the STR is filed against.

NEW QUESTION # 708
Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)

A. Law enforcement and other authorities should be allowed to establish and utilize joint investigative teams with law enforcement in other countries.
B. Law enforcement and other authorities should not expedite information sharing between countries to ensure that all information is provided at the same time to avoid premature conclusions.
C. Every country should share all their information with foreign law enforcement and government authorities to facilitate rapid investigations.
D. Law enforcement and other authorities should have access to financial information that is pertinent to the investigation.

Answer: A,D

Explanation:
A money laundering investigation that involves multiple countries can be challenging due to different legal systems, languages, cultures, and levels of cooperation. Two factors that can assist such an investigation are:
* Law enforcement and other authorities should have access to financial information that is pertinent to the investigation. This can help them trace the flow of illicit funds, identify the perpetrators and beneficiaries, and gather evidence for prosecution. Financial information can be obtained from various sources, such as financial institutions, financial intelligence units, regulators, and international organizations.
* Law enforcement and other authorities should be allowed to establish and utilize joint investigative teams with law enforcement in other countries. This can enhance coordination, communication, and
* information sharing among the authorities involved, and allow them to pool resources, expertise, and evidence. Joint investigative teams can also facilitate mutual legal assistance and extradition requests.
References:
* Financial Action Task Force (FATF), International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation, The FATF Recommendations, February 2012, updated June
2019, Recommendation 40, pp. 120-123
* FATF, Best Practices on Establishing and Operating a Joint Investigative Team, June 2020, pp. 5-6
* FATF, Money Laundering and Terrorist Financing Investigations, June 2018, pp. 11-12

NEW QUESTION # 709
A precious metals dealer opens a new account with a bank. Which requires a referral to AML Investigations for further review?

A. Multiple daily point of sale transactions from third parties that appear to be individuals.
B. International outgoing wires to diamond dealers that are part of the diamond pipeline.
C. International incoming payments from foreign companies in which the precious metals dealer has an established relationship.
D. Payments received on the account reference unknown companies in the instructions.

Answer: D

Explanation:
Reference: https://www.imf.org/external/pubs/ft/tnm/2014/tnm1401a.pdf

NEW QUESTION # 710
What is a major money laundering risk associated with a number of prepaid cards as opposed to credit or debit cards?

A. The risk of losing the prepaid cards
B. The anonymous access to funds
C. The inability to load the card with cash
D. The global access to cash through ATMs

Answer: B

NEW QUESTION # 711
the Financing of Terrorism (CFT)]
AFinancial Intelligence Unit (FIU)in a countryhas received a SARinvolving significantsuspicious fund transfers, not only within its jurisdiction but also in aforeign country. Furtherinformation is requiredfrom the foreign country to determine whether the matter needs to be referred for prosecution locally.
Which of the following statements istruein this scenario?

A. Sovereignty of nations means thatinformation cannot be accessed from foreign countries.
B. It isagainst international lawson data protection to access information from foreign countries.
C. Any information related to money laundering can bereceived from any organization at anytime, regardless of jurisdiction.
D. Countries that are members of the Egmont Group can request assistancefor information from each other.

Answer: D

Explanation:
International cooperation is essentialinAML investigations, and theEgmont GroupfacilitatesFIU-to-FIU information sharing.
* Option D (Correct):Egmont Group memberscan request and share information forAML/CFT investigations.
* Option A (Incorrect):Sovereigntydoes not preventcooperationunder proper agreements.
* Option B (Incorrect):AML laws allowdata sharing under legal frameworkslikeMutual Legal Assistance Treaties (MLATs).
* Option C (Incorrect):Information sharing isrestricted to FIUs and authorized agencies, notall organizations.
Reference:FATF Recommendation 40 (International Cooperation), Egmont Group FIU Guidelines, Mutual Legal Assistance Treaties (MLATs).

NEW QUESTION # 712
......

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