CAMS-FCI Exam Dumps : Advanced CAMS-Financial Crimes Investigations

The analyst should clarify discrepancies noted in the customer’s declared profile given the downstream impact on the risk assessment. This is because discrepancies between the customer’s nature of business and the information on the business registry may indicate that the customer is not operating a legitimate business or is trying to conceal its true activities. The analyst should verify the customer’s identity, source of funds, and purpose of transactions to ensure that the customer’s risk profile is accurate and consistent with the Fl’s risk appetite.

References: Leading Complex Investigations Certificate, Module 2, page 9.

The sources of funds that Bank A should conduct additional scrutiny on are the third-party transfer and the transfer from Bank B. This is because these sources may pose higher risks of money laundering, terrorist financing, fraud, or other illicit activities. Some of the reasons why these sources require more scrutiny are23:

Third-party transfers may involve unknown or unrelated parties that may have ulterior motives or hidden agendas. They may also be used to obscure the origin or destination of funds, or to circumvent sanctions or other regulatory restrictions.

Transfers from Bank B may involve jurisdictions that have weak anti-money laundering and counter-terrorist financing (AML/CFT) regimes, high levels of corruption, or significant criminal activity. They may also involve banks that have poor reputation, compliance, or transparency standards.

References:

• Third Party Payments - Wolfsberg Group
• Guidance on Correspondent Banking Services - FATF

As part of an internal fraud investigation, an AML officer should gather information on the employee from coworkers and supervisors before the interview, as this can help to establish a baseline of the employee’s behavior, role, and responsibilities, and identify any red flags or anomalies. The other options are not consistent with best practices because they can compromise the integrity of the investigation, violate the employee’s rights, or discourage cooperation.

References: Advanced CAMS-FCI Certification Handbook, page 28.