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

Question 25

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?

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

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

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

Suggest EDD for 50% of the clients is appropriate.

Question 26

Using artificial intelligence (Al) and machine learning-based techniques tn adverse media screening can: (Choose three.)

ensure that all adverse media sources are comprehensively analyzed without the need for human review.

significantly reduce human errors arising from repetitive tasks by delivering consistent and highly accurate analysis.

instantly identify intent behind media articles, allowing for more effective risk scoring.

automate the process of identifying new information and distinguishing it from previously encountered data.

cover multiple languages and scripts, surpassing the limitations of human linguistics.

Question 27

Which of the following best describes the use of fuzzy logic in customer screening systems?

It produces outputs that include a range of intermediate possibilities between "Yes" and "No"

It is an advanced analytics tool widely used to implement AFC controls

It allows for a greater number of exact matches, reducing the need for manual review

It is a new technique for enhancing the quality of alerts for review

Question 28

Which of the following is a common strategy employed by non-governmental organizations (NGOs) to combat money laundering?

Helping Financial Intelligence Units (FIUs) to analyze the suspicious activity reports (SARs)

Directly prosecuting money launderers in court

Providing financial assistance to governments to strengthen their anti-money laundering efforts

Raising awareness about the issue of money laundering and its consequences