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Acams Advanced CAMS-Financial Crimes Investigations Exam Questions
- Topic 1: Leading Complex Investigations: This section of the exam tests the expertise of professionals tasked with overseeing complex financial crime investigations, such as financial crime investigators. It focuses on the methods and strategies necessary to lead intricate investigations, including effective collaboration between internal teams to ensure seamless execution.
- Topic 2: Financial Crime Typologies Intermediate: This section examines the knowledge of mid-level professionals in financial crime roles, such as AML specialists that explores the various types of financial crimes, including money laundering, terrorist financing, and sanctions evasion, providing insights into identifying and combating these crimes effectively.
- Topic 3: Reporting Suspicious Activity: This section evaluates the proficiency of financial compliance professionals in accurately reporting suspicious activities. It covers the legal frameworks, required formats, and procedures for filing Suspicious Activity Reports (SARs) and ensures that these reports comply with regulatory requirements.
- Topic 4: Governance of an AFC Investigations Unit: This section assesses the knowledge of senior-level professionals and managers, such as heads of investigations or compliance directors, in managing an Anti-Financial Crime (AFC) investigations unit.
Free Acams Advanced CAMS-Financial Crimes Investigations Exam Actual Questions
Note: Premium Questions for Advanced CAMS-Financial Crimes Investigations were last updated On Oct. 21, 2024 (see below)
A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?
A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer increased organized crime and corruption as a social/economic consequence. 'Weaknesses in the AML/CFT regime can lead to a range of economic and social consequences, including...increased crime and corruption.' (CAMS Manual, 6th Edition, page 32)
A bank's transaction surveillance system triggers an alert for a deposit of 250.000 USO into a client's account. According to the bank's KYC information, the client works for a financial advisory firm, and earns approximately 100,000 USD per year. Which actions should be taken? (Select Three.)
File the suspicious transaction immediately to the financial intelligence unit.
According to the Certified Anti-Money Laundering Specialist (CAMS) Manual , 6th edition, if a bank's transaction surveillance system triggers an alert for a deposit of 250.000 USD into a client's account, the bank should take the following actions:
Request information and documentation from the client on the background of the transaction (CAMS Manual, 6th edition, page 46).
Contact the client advisor to learn if he has any insight on the transaction background (CAMS Manual, 6th edition, page 47).
Review the transaction background in the bank's transaction platform (CAMS Manual, 6th edition, page 47).
Discarding the alert as a false positive hit and reviewing the alert if the deposit is made in cash should not be done.
The bank should request additional information and documentation from the client to better understand the nature of the transaction. Additionally, the bank should reach out to the client advisor to learn if they have any insight on the transaction background. Finally, the bank should review the transaction background in the bank's transaction platform to determine if any additional alerts or anomalies are present. (CAMS Manual, 6th Edition, Pages 117-118)
Which reputations risk consequence could a financial entity face for violating AML laws?
Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)
The primary purposes of Financial Action Task Force (FATF)-Style Regional Bodies are to promote effective implementation of FATF recommendations and to provide expertise and input in FATF policy-making. (CAMS Manual, 6th Edition, Page 180)
Which is the first valid step in the Mutual Legal Assistance Treaties international cooperation process?
The first valid step in the Mutual Legal Assistance Treaty (MLAT) international cooperation process is for the central authority of the requesting country to send a letter of request to the central authority of the other country. The letter of request should provide a summary of the facts and information required, the reasons for the request, and any specific legal or procedural requirements that need to be met. (CAMS Manual, 6th Edition, Page 233).
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Johanna
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