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Acams Exam CAMS-FCI Topic 4 Question 11 Discussion

Actual exam question for Acams's CAMS-FCI exam
Question #: 11
Topic #: 4
[All CAMS-FCI Questions]

Which payment method for purchasing luxury items is a red flag for potential money laundering?

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Suggested Answer: B

According to the Financial Action Task Force (FATF), the use of large amounts of cash is a common method for money launderers to move illicit funds [1]. Purchasing luxury items with cash can indicate an attempt to convert illegal funds into tangible assets that can be easily resold or moved across borders. As a result, businesses that deal with luxury items are required to implement enhanced due diligence measures, including monitoring transactions involving large amounts of cash [1].


by Billi at Feb 10, 2025, 09:40 PM

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Barbra
22 days ago
I disagree, I think cash is the most suspicious payment method for luxury items.
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Dion
22 days ago
Hmm, cash? That's like a neon sign saying 'I've got something to hide.' I'll have to go with B on this one.
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Janna
16 hours ago
C) Wire transfer
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Karan
17 hours ago
Cash is definitely a red flag for money laundering.
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Yolando
11 days ago
B) Cash
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Vincent
13 days ago
A) Personal loan
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Jerry
23 days ago
I agree with Candida, wire transfer can be used to hide the source of funds.
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Candida
25 days ago
I think wire transfer is a red flag for money laundering.
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