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Acams Exam CAMS Topic 4 Question 77 Discussion

Actual exam question for Acams's Certified Anti-Money Laundering Specialist exam
Question #: 77
Topic #: 4
[All Certified Anti-Money Laundering Specialist 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 Otis at Jun 22, 2024, 08:44 AM

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