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Acams Exam CAMS Topic 2 Question 85 Discussion

Actual exam question for Acams's CAMS exam
Question #: 85
Topic #: 2
[All CAMS Questions]

Which red flag should a compliance officer prioritize first for investigation?

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Suggested Answer: C

by Fausto at Sep 18, 2024, 02:36 AM

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Xuan
2 months ago
D) A convenience store cashing government checks for its customers in amounts less than $1,000 USD per day? That's a classic case of structuring, and it needs to be looked into right away.
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Vi
1 months ago
C) A customer has 20 monthly transactions that are repetitive but less than $500 USD per transaction.
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Erick
1 months ago
B) Several cross-border transfers are received and immediately wired to another beneficiary.
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Selma
2 months ago
A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.
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Chi
3 months ago
A) A loan paid off in full with cash after the sale of the collateral vehicle? Sounds fishy to me. I'd keep a close eye on that one if I were the compliance officer.
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Georgiann
2 months ago
C) Repetitive transactions under $500 each month could also be a cause for concern.
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Ashlyn
2 months ago
B) I think the cross-border transfers being immediately wired to another beneficiary is a major red flag.
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Denae
2 months ago
A) I agree, that does seem suspicious. It's definitely worth investigating further.
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Thad
3 months ago
I think option D should be prioritized, as cashing government checks in small amounts could be a red flag for illegal activity.
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Shawn
3 months ago
I agree with Destiny, because multiple cross-border transfers could indicate money laundering.
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Beckie
3 months ago
Whoa, hold on there! If I had a dollar for every time someone tried to hide their shady business through 'cross-border transfers', I'd be a rich man. This one's a no-brainer, folks.
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Wilda
2 months ago
D) A convenience store cashes government checks for its customers in amounts less than $1,000 USD per day.
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Myra
2 months ago
C) A customer has 20 monthly transactions that are repetitive but less than $500 USD per transaction.
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Chu
2 months ago
B) Several cross-border transfers are received and immediately wired to another beneficiary.
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Terina
3 months ago
A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.
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Destiny
3 months ago
I think the compliance officer should prioritize option B.
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Alesia
3 months ago
B) Several cross-border transfers are received and immediately wired to another beneficiary. This is a classic sign of money laundering and should be investigated immediately.
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Tanesha
3 months ago
B) Several cross-border transfers are received and immediately wired to another beneficiary.
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Azalee
3 months ago
A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.
upvoted 0 times
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