ACAMS CAMS Practice Test - Questions Answers, Page 42

According to the Basel Committee's principles on customer due diligence, a bank should:

Which transaction monitoring processes would alert a bank for red flag activity?

A company is endorsing the execution of terrorism through different activities, such as developing content for pro-terrorist television messages, encouraging the support of terrorist activities via the web, advertising the use of cryptocurrencies, and paying producers and reporters for television and web messaging. What specific action should be considered financing of terrorism?

The Chief Compliance Officer (CCO) of a financial institution has been asked by a manufacturing customer reliant upon imported raw materials if there will be repercussions to his business following the weak assessment of the recent publicly issued Financial Action Task Force (FATF) Mutual Evaluation Report (MER). How should the CCO respond?

Which is a key aspect of the first EU Directive on Money Laundering?

What should an employee do after witnessing suspicious activity from a coworker?

An oil exploration company based in France does business with oil refineries in Iran, which is subject to comprehensive Office of Foreign Assets Control (OFAC) sanctions. What type of OFAC sanctions should be imposed against the French company?

Which is true about Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs)?

When considering sharing information across the institution or within the same jurisdiction, what is the key legal issue that poses challenges to sharing customer-related information?