Acams Exam CAMS Topic 1 Question 94 Discussion

Actual exam question for Acams's CAMS exam

Question #: 94
Topic #: 1

[All CAMS Questions]

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

AInvestigate and, where appropriate, prosecute all suspicious transaction and suspicious activity reports received from reporting institutions or obliged institutions.

BAnalyze all suspicious transaction and suspicious activity reports received from reporting institutions or obliged institutions.

CDisseminate analysis of suspicious transaction and suspicious activity reports to foreign judicial systems to enhance their anti-money laundering and terrorist financing investigations and prosecutions.

DDisseminate the analysis of suspicious transaction and suspicious activity reports to local law enforcement agencies and foreign FIUs to combat money laundering.

EReceive reports of suspicious transactions and suspicious activities from reporting institutions or obliged institutions.

Show Suggested Answer

Suggested Answer: B, D, E

Financial Intelligence Units (FIUs) serve as national centers for collecting, analyzing, and disseminating AML/CFT information.

Option B (Correct): FIUs analyze SARs and STRs to detect money laundering and terrorist financing risks.

Option D (Correct): FIUs disseminate financial intelligence to local and international law enforcement agencies and other FIUs.

Option E (Correct): FIUs receive SARs/STRs from financial institutions, which form the basis for their analysis.

Why Other Options Are Incorrect:

Option A (Incorrect): FIUs do not prosecute cases; they refer findings to law enforcement agencies.

Option C (Incorrect): FIUs share intelligence, but prosecution is handled by judicial authorities, not FIUs.

Best Practices for FIUs:

Enhance data-sharing agreements with domestic and international agencies.

Use AI and analytics tools to detect suspicious financial patterns.

Ensure secure handling of sensitive AML/CFT data.

FATF Recommendation 29 (FIU Role & Responsibilities)

Egmont Group Guidelines on FIU Information Sharing

EU 6th AML Directive (6AMLD) on Financial Intelligence Functions

by Doyle at Feb 10, 2025, 06:37 AM

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Aleisha

10 days ago

I believe they also receive reports of suspicious transactions from reporting institutions.

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Nickole

11 days ago

Wow, looks like the FIU has a lot on their plate! Gotta love that they get to play investigator, analyst, and international liaison all at once. Talk about job variety!

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Merilyn

13 days ago

I agree with that. They also analyze the reports and disseminate the analysis to law enforcement agencies.

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Buck

22 days ago

I think the roles of a government FIU include investigating and prosecuting suspicious reports.

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