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ACAMS CAMS Practice Test - Questions Answers, Page 61

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Question 601

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Law enforcement is conducting an investigation of a financial institution (FI) and has submitted an overly broad and unduly intrusive request. Which is a Fl's most appropriate response?

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Question 602

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A law enforcement agency submits several requests to a financial institution. Which request is legitimate and requires the bank to respond?

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Question 603

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Which action should a financial institution take when it receives a grand-jury subpoena regarding a customer?

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Question 604

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Which action does the Financial Action Task Force call on member countries to take in the most serious cases when countries have significant strategic AML deficiencies?

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Question 605

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According to Basel Committee guidelines, which level of the organization should determine whether or not to enter business relationships with higher risk customers?

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Question 606

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Which should be provided to the board of directors or designated specialized committee when preparing suspicious activity reports (SARs)?

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Question 607

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Which product type is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

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Question 608

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Which should a financial institution implement in order to identify and investigate money laundering activity from their clients? (Select Two.)

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Question 609

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Which is an indicator that there is an attempt to conceal a company's true beneficial ownership?

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Question 610

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A typical red flag regarding potential money laundering in connection with an art purchase occurs when a customer:

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