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CAMS Exam Dumps : Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)

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Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Questions and Answers

Question 1

Which of the following scenarios warrants enhanced due diligence (EDD)? (Select Three.)

Options:

A.

An existing local league footballer trying to open a bank account with a bank in their local jurisdiction

B.

The current prime minister of a country trying to open a bank account in another country

C.

The former personal secretary to the minister of transport in a low-risk country 25 years ago opening a bank account at a bank in a neighboring low-risk country

D.

A bank located in a higher risk country trying to establish a correspondent-respondent banking relationship with a bank in a lower-risk country

E.

An individual with a current bank account who resides in one country becoming the ambassador of another country

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Question 2

A financial institution's (FI's) policy is to apply enhanced due diligence (EDD) for every new client to ensure the effectiveness of the program.

How should a consultant advise the FI's management team?

Options:

A.

Suggest the FI needs to implement a risk-based approach for EDD.

B.

Suggest the management team select the clients that are chosen for EDD.

C.

Suggest the management team ask the regulator for advice on EDD measures.

D.

Suggest EDD for 50% of the clients is appropriate.

Question 3

Public-private partnerships (PPPs) that involve the sharing of information between law enforcement authorities, Financial Intelligence Units (FIUs), and the private sector are established to: (Select Two.)

Options:

A.

Exchange operational information between public authorities and obliged entities

B.

Exchange strategic information between FIUs and obliged entities

C.

Exchange strategic information between financial institutions

D.

Create a common database of key information and share analysis of suspicious activities with FATF