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Acams Exam CAMS Topic 2 Question 81 Discussion

Actual exam question for Acams's CAMS exam
Question #: 81
Topic #: 2
[All CAMS Questions]

Which private banking situation requires due diligence actions to be implemented according to the AML principles of the Wolfsberg group?

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Suggested Answer: C

by Louis at Aug 04, 2024, 08:06 AM

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Justa
6 months ago
Just throw a dart at the options, I'm sure any of them will do. Who needs due diligence when you've got luck on your side, am I right?
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Lorean
6 months ago
I bet option D is the right answer. Setting up an exchange house? Sounds like a recipe for trouble if you ask me.
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Francesco
5 months ago
B: I agree with you. It's important to be extra cautious in those situations.
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Lindsey
5 months ago
A: I think option C is the correct answer. Dealing with wealthy individuals from high-risk countries definitely requires due diligence.
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Lorean
6 months ago
That could also be a red flag for money laundering, so due diligence is necessary there too.
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Teresita
6 months ago
I'm going with C as well. Better safe than sorry when it comes to that kind of client, you know? Can't risk any shady business happening on your watch.
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Mila
5 months ago
You never know what kind of risks are involved with clients from high-risk countries.
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India
5 months ago
Agreed, it's important to follow AML principles in those situations.
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Buffy
5 months ago
Definitely, high-risk countries require extra caution.
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Rutha
6 months ago
Agreed, we have to follow the AML principles to protect against any potential risks.
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Solange
6 months ago
Definitely, it's important to be cautious with clients like that.
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Kiley
6 months ago
C) A wealthy individual from a high-risk country wants to open an account with a private bank.
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Lemuel
6 months ago
C) A wealthy individual from a high-risk country wants to open an account with a private bank.
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Sunshine
6 months ago
But what about option B with the beneficial owner of an exchange house?
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Caitlin
6 months ago
I agree, wealthy individuals from high-risk countries need extra scrutiny.
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Lorean
7 months ago
I think option C requires due diligence.
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Selma
7 months ago
I agree, C is the right choice. You can't be too careful with wealthy individuals from high-risk countries. Gotta follow those AML guidelines to the letter.
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Hui
6 months ago
B: I agree, it's important to follow the AML principles to prevent any potential money laundering activities.
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Chu
6 months ago
A: Definitely, we need to be extra cautious with customers from high-risk countries.
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Desmond
7 months ago
Option C is definitely the correct answer. High-risk countries require thorough due diligence according to the Wolfsberg principles.
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Lisbeth
6 months ago
We need to make sure we follow the AML principles of the Wolfsberg group.
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Quentin
7 months ago
That's right, high-risk countries require extra due diligence.
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Luis
7 months ago
C) A wealthy individual from a high-risk country wants to open an account with a private bank.
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