CAMS Exam Dumps

Some new questions:
Question:
Suspicious activity triggered a suspicious transaction report filing on a company that holds an account at a large commercial bank. Investigations revealed that a member of the bank’s Board of Directors is the major shareholder of the company. Further review revealed the bank had no reasonable explanation for the activity, but could not confirm if criminal activity occurred. Which of the following is the next best course of action for the compliance officer?
A. Include a detailed presentation of this case in the Board report.
B. Prevent the suspicious transaction report from government filing.
C. Ask the Board member to explain the transaction.
D. Maintain standard summary statistical reporting to the Board.

Question:
Which of the following are the most suspicious transaction indicators related to casino activities?
1. A client requests a winnings check (cheque) in a third party’s name.
2. Acquaintances bet against each other in even-money games and it appears they are intentionally losing to one of the parties.
3. A new client who is a large volume player asks the casino operator about the ability to transfer the funds to other locations in the same country.
4. A client requests the transfer of winnings to the bank account of a third party in a country without an effective anti-money laundering regime.
A. 1, 2, and 3 only
B. 1, 2, and 4 only
C. 1, 3, and 4 only
D. 2, 3, and 4 only

Question:
According to the Financial Action Task Force Special Recommendations on Terrorist Financing, which of the following should an anti-money laundering specialist do if the specialist has reasonable grounds to suspect funds are linked or related to terrorist acts?
A. Conduct a full due diligence review of the client.
B. Inform the institution’s managing Board.
C. Contact the institution’s legal advisor.
D. Promptly report to the competent authority.

Question:
An anti-money laundering specialist has just developed and implemented an anti-money laundering program. Which of the following is the best resource to evaluate the effectiveness of the program?
A. the regulatory authorities
B. a member of senior management
C. the anti-money laundering specialist
D. a qualified independent party/auditor

Question:
A client has retained a lawyer to create a financial holding company. The lawyer resides in Europe. The client provides all requested documentation to the lawyer. However, the lawyer becomes suspicious that the customer is engaged in criminal activity and intends to use the financial holding company for money laundering purposes. Which of the following should an anti-money laundering specialist recommend according to the European Union Money Laundering Directives?
A. There is no need to file a suspicious transaction report, as this activity is covered by attor-ney-client privilege.
B. Freeze the client’s assets so that all records can be turned over to the competent authori-ties.
C. Report the activity as suspicious to the competent authority because the lawyer is covered by these directives.
D. Consult with the competent authority to receive advice on how to handle the transaction.
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