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Acams Exam CAMS Topic 2 Question 75 Discussion

Actual exam question for Acams's Certified Anti-Money Laundering Specialist exam
Question #: 75
Topic #: 2
[All Certified Anti-Money Laundering Specialist Questions]

Which methods are typically used to launder money using insurance companies? (Choose two.)

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Suggested Answer: A, D

by Bulah at May 18, 2024, 10:31 AM

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Scarlet
3 months ago
C is interesting, but I think it's a bit too complicated. Why not just overpay the policy and withdraw the excess?
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Kenneth
3 months ago
B is just plain silly. Why would you make your sibling the beneficiary? That's too obvious.
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Dong
2 months ago
D) The policy holder uses an offshore company to pay the insurance installments.
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Raylene
3 months ago
A) The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.
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Tiera
3 months ago
E is just a weird one. Who cares about the costs? The point is to move the money around, not worry about the fees.
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Rosendo
3 months ago
A and D seem like the most common methods. Offshore companies are a classic way to hide the money trail.
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Micheline
2 months ago
A) It's a sneaky way to launder money for sure.
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Ailene
2 months ago
D) And overpaying the policy can help disguise the illegal funds as legitimate payments.
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Cheryl
2 months ago
A) Definitely, it's all about trying to cover your tracks.
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Bev
2 months ago
D) It's a common tactic to try and hide the source of the funds.
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Laurel
3 months ago
A) That's true, using offshore companies can make it harder to trace the money.
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Craig
3 months ago
D) The policy holder uses an offshore company to pay the insurance installments.
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Shawna
3 months ago
D) The policy holder uses an offshore company to pay the insurance installments.
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Craig
3 months ago
A) The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.
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Malissa
3 months ago
A) The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.
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