ACAMS CAMS Practice Test - Questions Answers, Page 46

Private investment companies are potentially vulnerable to money laundering because:

According to recommendations from the Financial Action Task Force, what role does a country's financial intelligence unit play in safeguarding against money laundering?

Which are characteristics of Mutual Legal Assistance Treaties (MLATs)? (Select Three.)

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?

A bank receives a request for a subpoena (or a client who has been the subject of monitoring for several months. The bank wishes to close the account in order to mitigate any additional risk. However, the government requires that the account remain open. What document must be provided to the bank to keep the account open?

When may Office of Foreign Assets Control (OFAC) sanctioned-related transactions be allowed that would otherwise be prohibited?

Which are red flags indicating potential engagement of a bank employee in money laundering? (Select Two.)

Which factors specific to the securities industry increase the exposure to money laundering risk? (Select Two.)

Client A is flagged for a high volume of outgoing transfers. Further investigation reveals Client A has a potentially key role in a network linked to human trafficking. After filing a suspicious activity report, what step should the investigator take next?