BlackFriday 2024! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

Acams Exam CAMS Topic 4 Question 77 Discussion

Actual exam question for Acams's CAMS exam
Question #: 77
Topic #: 4
[All CAMS Questions]

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

Show Suggested Answer Hide Answer
Suggested Answer: C

by Otis at Jun 22, 2024, 08:44 AM

Limited Time Offer

25%

Off

Get Premium CAMS Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Yuriko
4 months ago
Haha, setting up an exchange house through the bank? Sounds like a money laundering scheme waiting to happen. Nice try, D!
upvoted 0 times
Rochell
2 months ago
C: It's important to assess the risk involved, especially with customers from high-risk countries.
upvoted 0 times
...
Bronwyn
3 months ago
B: I agree, we have to follow the AML principles and conduct thorough due diligence.
upvoted 0 times
...
Franchesca
3 months ago
A: Definitely sounds suspicious. We need to be careful with these types of requests.
upvoted 0 times
...
Adolph
3 months ago
C: It's important to assess the risks involved, especially with customers from high-risk countries.
upvoted 0 times
...
Willard
3 months ago
B: I agree, we have to follow the AML principles and conduct thorough due diligence.
upvoted 0 times
...
Coral
3 months ago
A: Definitely sounds suspicious. We need to be careful with these types of requests.
upvoted 0 times
...
...
Emilio
4 months ago
Ha! A local wealthy individual opening a retail account? Come on, that's too easy. No need for due diligence there.
upvoted 0 times
Reuben
3 months ago
B: D) A new customer asks to set up an exchange house using the bank as the correspondent.
upvoted 0 times
...
Leatha
4 months ago
A: C) A wealthy individual from a high-risk country wants to open an account with a private bank.
upvoted 0 times
...
...
Rodrigo
4 months ago
That could also be a red flag, but high-risk countries are a bigger concern.
upvoted 0 times
...
Martina
4 months ago
But what about option B, a beneficial owner of an exchange house?
upvoted 0 times
...
Moon
4 months ago
I agree with C. Gotta be careful with those wealthy individuals from shady places, you know?
upvoted 0 times
Salena
4 months ago
B: I agree, it's important to follow the AML principles to prevent any potential risks.
upvoted 0 times
...
Emmanuel
4 months ago
A: Definitely, we need to be extra cautious with clients from high-risk countries.
upvoted 0 times
...
...
Lina
5 months ago
I agree with Rodrigo, a wealthy individual from a high-risk country needs extra scrutiny.
upvoted 0 times
...
Shalon
5 months ago
Definitely C. You can't just let anyone from a high-risk country open an account without proper scrutiny.
upvoted 0 times
...
Rodrigo
5 months ago
I think option C requires due diligence actions.
upvoted 0 times
...
Stanton
5 months ago
Option C is the correct answer. High-risk countries require enhanced due diligence according to AML principles.
upvoted 0 times
Louis
4 months ago
C) A wealthy individual from a high-risk country wants to open an account with a private bank.
upvoted 0 times
...
Brittani
4 months ago
That's right, high-risk countries require enhanced due diligence.
upvoted 0 times
...
Richelle
5 months ago
C) A wealthy individual from a high-risk country wants to open an account with a private bank.
upvoted 0 times
...
...

Save Cancel