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CAMS – Certified Anti-Money Laundering Specialist

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Showing 1–3 of 20 questions

Question 1

Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

Select all that apply, then click Submit answer.

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    File a suspicious transaction report on the account owner(s)
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    Maintain account records for at least five years after the request expires
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    Ask for a written request from the law enforcement agency that defines the duration
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    Stop filing suspicious transaction reports because law enforcement will be monitoring the account
Question 2

Which constitute red flags in connection with a company involved in illegal logging? (Select Three.)

Select all that apply, then click Submit answer.

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    Business registry activities state promotion of environmental protection
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    High number of transactions through company's connected bank accounts
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    Paper packaging demand production
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    Expeditious shipment of wood to far away jurisdictions

    Expeditious shipment of wood to far away jurisdictions,
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    Use of heavy machinery in non-protected areas

    Use of heavy machinery in non-protected areas, and
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    Executive's association with politically exposed persons
    Executive's association with politically exposed persons. These red flags could be indicative of attempts to conceal the origin of illegally harvested wood and to avoid detection by government authorities.
Question 3

Which are essential elements of a KYC program identified by the Base1 Committee on Banking Supervision? (Select Two.)

Select all that apply, then click Submit answer.

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    Internal control
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    Customer acceptance policy
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    Code of conduct
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    Risk appetite
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    Risk management