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CAMS – Certified Anti-Money Laundering Specialist

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Showing 16–18 of 20 questions

Question 16

One of the red flags of microstructuring is:

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    depositing sequentially numbered checks.
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    check deposits followed by ATM withdrawals using debt card in retail store.
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    single activity in an account immediately following the opening of the account.
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    frequent visits to make cash deposits of nominal amounts.
Question 17

One area of responsibility for the Board of Directors when implementing a successful AML program is to:

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    ensure the appointment of a qualified chief AML officer.
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    create a culture of compliance based on the profit expectation.
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    manage the day-to-day processes of the compliance program.
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    hire a third-party firm to be responsible for the AML compliance.
Question 18

The owner of a real estate investment company deposits multiple cashier's checks that were bought using cash over a three-month period, from the sale of two apartments. This account also receives several electronic transfers from other financial institutions for 10.000 USD each. What activity is considered suspicious of money laundering?

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    Using cash to buy multiple cashier's checks over a period of time
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    Using cashier's checks in the transactions with the real estate investment company's account
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    Performing operations with real estate investment companies
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    Receiving electronic transfers for 10.000 USD amounts from other financial institutions