Ultimate Guide to CAMS Dumps - Enhance Your Future Career Now [Q111-Q129]

NO.111 A compliance analyst is reviewing recent activity between a publicly traded company and a company in a high risk jurisdiction. Which detail suggests that escalation is warranted?

The activity is a reputational risk to the financial institution.

It is the first time the originator wires the beneficiary.

Beneficiary is active in a related industry.

Payments to the beneficiary are for large dollar amounts.

NO.112 Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You create a managed identity for AKS, and then you create an SSH connection.
Does this meet the goal?

Yes

No

NO.113 Which action should be taken regarding a particular account once suspicious activity is reported by the institution?

Notify the client that the transaction has been reported

Freeze the funds pending notification from the competent authority

Secure all supporting documentation

Immediately close the account

NO.114 Which transaction should result in a SAR/STR filing?

A small business owner deposits checks totaling $9,950 USD on a daily basis without providing a legitimate purpose.

A small business owner deposits $25,000 USD in cash proceeds with a business equipment bill of sale.

A national food-chain restaurant with multiple cash transactions at various branch locations.

A national food-chain restaurant makes multiple, anticipated cash transactions that are above the daily reporting threshold.

NO.115 A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer.
How should the bank respond?

Confirm the customer is either a current or former customer

Inform the board of directors before responding to the request

Provide the requested information to help aid in the investigation

Request a formal letter be submitted to verify the validity of the request

NO.116 When should the anti-money laundering risk assessment be updated?

Every two years

After a merger or acquisition

When the board of directors changes

When instructed to by the Financial Action Task Force

NO.117 A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, re-named the internal records group, and streamlined cash handling procedures.
Which factor causes the compliance officer to update the bank’s risk assessment?

The bank acquired another institution

The internal records group has been re-named

The cash handling procedures were streamlined

The risk assessment was completed six months ago

NO.118 What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)

At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.

Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.

Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.

An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors.

NO.119 When the minimum CDD standards of the home and host countries differ, the offices in the host countries should follow which requirements?

Local rules and regulations

The minimum required

The higher standard of the two

The CDD standards required by the home country

NO.120 Which three should real estate agents include in the criteria to assess their company’s potential money laundering and terrorist financing risks when implementing a reasonable risk-based approach?

Credit Risk

Customer Risk

Transaction Risk

Geographic Risk

NO.121 Which customer transaction with a securities dealer would indicate the highest supicion of money laundering?

Frequent trades in unlisted securities throughour the day on a regular basis

Recurring transfers of money into a brokerage account subsequently invested in shourt-term securties

A high level of account activity with very low levels of securities transactions

Investment iin securities with a significantly lower risk than the customer’s expressed risktolerance

NO.122 Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)

Acting as a prudential regulatory body for financial institutions

Providing due diligence for foreign correspondent banks

Providing expertise and input in FATF policy-making

Imposing special measures for non-cooperative jurisdictions

Promoting effective implementation of FATF recommendations

NO.123 After an institution files an STR with regard to a particular account, a law enforcement agent requests the institution to keep the account open until advised otherwise by law enforcement. What steps should the institution take?

The institution should close the account in order not to be caught in the middle of a law enforcement investigation

The institution should follow the request of the law enforcement agent and keep the account open

The institution should request a written letter From the law enforcement ( agency signed by an appropriate authorized signature

The institution should keep the account open only if doing so comports with the bank’s own AML procedures

NO.124 What might limit a compliance officer’s ability to respond to a foreign law enforcement official’s request to provide information with regard to an anti-money laundering investigation?

Privacy and data protection laws in the compliance officer’s country

Whether there is a mutual legal assistance treaty between the countries of the compliance officer and the law enforcement official

Whether the request has been processed by the foreign law enforcement official’s embassy in the compliance officer’s country

Anti-money laundering laws that require the confidential treatment of Suspicious Transaction Reports in the law enforcement official’s country

NO.125 What are two requirements with respect to supporting documentation that is used to identify potentially suspicious activity, according to Financial Action Task Force? (Choose two.)

It must be retained for at least five years

It must be retained for at least seven years

It must be kept in a manner so that it can be provided promptly

It must only be released to the government through a subpoena process

NO.126 Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its account at a non-US branch of Bank A.
The U.S. government has initiated forfeiture action against the WTS.
Which potential action can the U.S. take under the USA PATRIOT ACT pursuant to the issuance seizure warrant?

Seize Bank A’s $5 million correspondent account in the U.S.

Seize WTS’ $1 million account at the non-U.S. branch of Bank A.

Seize $1 million from Bank A’s correspondent account in the U.S.

Seize $5 million from the non-U.S. branch of Bank A where the WTS’ account is located.

NO.127 A prospective AML officer comes highly recommended by a banks up-stream correspondent institution of similar size and make-up, located in a different city in the same country. The bank is interested in hiring the individual. What should be the next step taken by the Board of Directors?

Do a thorough background check

Confer with its regulatory agency to determine whether it is appropriate to hire the person

Hire the individual, relying on the recommendation of its correspondent

Hire the individual on a probationary basis so that the institution can determine if the individual is sufficiently experienced and capable

NO.128 A bank account is established for a new business customer. The business was established five years ago with an address in another state. The business website contains few details other than stating it is a real estate business.
One principal has an international telephone number and appears to be living in another country. The other principal works out of a recreational vehicle.
What warrants enhanced due diligence in this scenario?

Shell company

Human trafficker

Politically exposed person

Money laundering through real estate

NO.129 The compliance department receives an internal referral that appears to indicate terrorist financing. What is the first step that should be taken in the investigation process?

Notify the Board of Directors.

Immediately file a suspicious activity report.

Gather background and transaction information.

Exit the relationship.

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