ACAMS CAMS Practice Test - Questions Answers, Page 73

Which of the following are risk factors a financial institution should examine when onboarding a new corporate customer? (Select Three.)

Which measures help limit the collection and use of personal data when performing AML-related controls?

Which information should be provided to the Board of Directors or a designated specialized committee when preparing a Suspicious Activity Report (SAR) report summary?

According to the Financial Action Task Force (FATF) methodology, which situations would require a financial institution (FI) to consider filing a Suspicious Activity Report (SAR)?

An AML/CFT unit often compiles information about customer activity and product usage that might be of interest to other parts of the organization.

Before allowing the unit to communicate such information internally, the organization must review:

Which scenario best justifies why a financial institution (FI) might close a customer's account?

Which changes at a financial institution (FI) should trigger an enterprise-wide reassessment of its inherent AML risk exposure? (Select Three.)

A law enforcement action alleged that, over the course of two months, defendants engaged in a series of copper, gold, crude oil, and natural gas futures transactions on an electronic trading platform.

One defendant repeatedly bought future contracts at low prices from another party and immediately sold them back at higher prices, effectively ensuring that one defendant made profits while the other took losses, even though there was no actual market risk involved.

What is the name of this typology?

What is the purpose of a Risk Appetite Statement (RAS) and its linkages while implementing organizational controls? (Select Two.)