CAMS-FCI Study Materials & CAMS-FCI Exam collection & CAMS-FCI Actual Lab Questions

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ACAMS Advanced CAMS-Financial Crimes Investigations Sample Questions (Q27-Q32):


NEW QUESTION # 27
Which reputations risk consequence could a financial entity face for violating AML laws?

  • A. Seizure of assets

  • B. Loss of high-profile customers

  • C. Monetary penalties

  • D. Increased audit costs to monitor behavior


Answer: C

Explanation:
Explanation
According to the Certified Anti-Money Laundering Specialist (CAMS) Manual [1], 6th edition, financial entities that violate Anti-Money Laundering (AML) laws can face several reputational risks such as loss of high-profile customers, seizure of assets, increased audit costs to monitor behavior, and monetary penalties.
For example, the US Treasury's Financial Crimes Enforcement Network (FinCEN) imposes civil money penalties on "persons who willfully violate, attempt to violate, conspire to violate, or cause any violation of any provision of the Bank Secrecy Act or its implementing regulations." (CAMS Manual, 6th edition, page
26).

 

NEW QUESTION # 28
Law enforcement agents arrive at a broker-dealer's premises with a search warrant. In addition to cooperation with the warrant, which instructions should the person in charge of the broker-dealer provide to their employees?

  • A. Take notes on the questions and comments made by the agents.

  • B. Provide agents with unlimited access to customers' personal data.

  • C. Volunteer information not requested by the agents that the employees think may be useful.

  • D. Sign consent forms permitting the agents to search employees' offices.


Answer: A

Explanation:
Explanation
The instruction that the person in charge of the broker-dealer should provide to their employees is to take notes on the questions and comments made by the agents (A). This is because taking notes can help the employees to recall and document what happened during the search warrant execution, which can be useful for legal or regulatory purposes. According to ACAMS3, "the FI should instruct its staff to cooperate with LE agents during a search warrant execution, but also to take notes of what is being searched, seized, or asked by the agents" (p. 35). The FI should also "keep copies of any documents or records that are taken by LE agents" (p.
35).
The other instructions are not correct. The person in charge of the broker-dealer should not instruct their employees to sign consent forms permitting the agents to search employees' offices (B), as this is unnecessary and potentially risky, as the agents already have a valid search warrant that authorizes them to search the premises. The person in charge of the broker-dealer should not instruct their employees to provide agents with unlimited access to customers' personal data , as this could violate privacy or data protection laws, as well as compromise customer trust and confidentiality. The person in charge of the broker-dealer should not instruct their employees to volunteer information not requested by the agents that they think may be useful (D), as this could interfere with the LE investigation or expose them to legal or regulatory risks.
References:
Introduction to Transnational Organized Crime
ACAMS Law Enforcement and Financial Crimes Investigations eLearning Course Module Law Enforcement Requests and Actions

 

NEW QUESTION # 29
Which reputations risk consequence could a financial entity face for violating AML laws?

  • A. Seizure of assets

  • B. Loss of high-profile customers

  • C. Monetary penalties

  • D. Increased audit costs to monitor behavior


Answer: C

 

NEW QUESTION # 30
When writing or reviewing a SAR/STR, it is important to:

  • A. ensure the narrative is kept to the point; easy to read; and addresses the who, what, when, where, why, and how.

  • B. keep the introduction brief but ensure all relevant transactions, account numbers, and suspect names are listed in the conclusion summary.

  • C. avoid mentioning suspect names in case it is seen by someone involved in criminal activity, effectively tipping them off.

  • D. ensure that the narrative is detailed with all available information so that law enforcement can decide what is relevant.


Answer: A

Explanation:
Explanation
The correct answer is A because a SAR/STR narrative should be concise, clear, and complete, addressing the who, what, when, where, why, and how of the suspicious activity. Option B is incorrect because providing too much information can make the narrative confusing and irrelevant. Option C is incorrect because the introduction should provide a summary of the suspicious activity, not the conclusion. Option D is incorrect because suspect names should be mentioned in the narrative to identify the parties involved in the suspicious activity.
References: Advanced CAMS-FCI Certification Handbook, page 17; Leading Complex Investigations Certificate, Module 3.

 

NEW QUESTION # 31
The training department is conducting awareness training for unusual customer identification scenarios. Which two indicators should be included? (Select Two.)

  • A. The customer frequently exchanges small bills for large bills.

  • B. The customer's name and home address cannot be verified

  • C. The customer opens the account in the name of a family member who begins making large deposits.

  • D. The customer requests payment of proceeds to an unrelated third party.

  • E. The customer's internet protocol address does not match the identifying information provided during online registration.


Answer: B,C

Explanation:
Explanation
This information can be found in the Certified Anti-Money Laundering Specialist (CAMS) study guide, 6th edition, under the section on Unusual Customer Identification Scenarios. The guide explains that two indicators that should be included in awareness training for unusual customer identification scenarios are:
A: The customer opens the account in the name of a family member who begins making large deposits.
This is an indicator of potential structuring, where a customer may be attempting to avoid triggering reporting thresholds by depositing funds in smaller amounts over time. It is important for staff to be aware of this scenario and to monitor accounts for potential suspicious activity.
B: The customer's name and home address cannot be verified.
This is an indicator of potential identity theft or other fraudulent activity. If a customer's identifying information cannot be verified, it is important for staff to conduct additional due diligence to ensure that the customer is legitimate and that the account is not being used for illicit purposes.

 

NEW QUESTION # 32
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CAMS-FCI Actual Lab Questions: Advanced CAMS-Financial Crimes Investigations & CAMS-FCI Study Guide


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