ACAMS CAMS Practice Test - Questions Answers, Page 69

A U.S. bank recently received a regulatory order to remediate its AML programs, which included several violations of law.

What degree of accountability is it possible for the bank's senior management and employees to face?

Which statement regarding data privacy is the most accurate in the context of AML investigations?

A legal instrument that is executed between two nations and governs cross-border information sharing is known as a:

A Financial Intelligence Unit (FIU) in a country has received a Suspicious Activity Report (SAR) involving significant suspicious fund transfers, both domestically and internationally. The FIU requires additional information from a foreign country to determine whether the matter needs to be referred for prosecution locally.

Which of the following statements is true in this scenario?

A legal instrument executed between two nations governing cross-border information sharing is called a:

Which of the following is a red flag indicating potential money laundering or terrorism financing through dealers of precious metals or high-value items?

An AML compliance officer receives an independent audit report with a number of findings.

An appropriate response to the report would include:

A bank is preparing for a regulatory exam after a previous regulatory exam identified weaknesses in its AML program. Since the last exam, the bank has:

Improved its written AML program

Hired an experienced AML compliance officer

Demonstrated a stronger culture of compliance

Focused on clearing its transaction monitoring case backlog and enhancing its sanctions screening program

Which of the following are correct? (Select Two.)

What are the roles of a government Financial Intelligence Unit (FIU)? (Select Three.)