Acams Exam CAMS Topic 1 Question 70 Discussion

Actual exam question for Acams's CAMS exam

Question #: 70
Topic #: 1

[All CAMS Questions]

A high-volume dealer of precious metals and stones in a high-risk jurisdiction is approached by a new customer interested in selling gold worth $200,000. The customer was referred by a longtime family friend of the dealer and provides no indication of background or business purpose for the sale. The dealer agrees to make the purchase based solely on the reference.

What is the money laundering red flag?

AThe customer was referred by a longtime friend of the dealer

BThe precious metals dealer is operating in a high-risk jurisdiction

CA new customer is selling gold worth $200,000 to a high volume dealer

DThe customer provides no background information or business purpose for the transaction

Show Suggested Answer

Suggested Answer: C

by Markus at Mar 18, 2024, 09:20 PM

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Hannah

2 days ago

I think the red flag is option D, lack of background information.

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