New Release CAMS AML Certification Questions

clearly define the level of risk exposure to financial crime which a financial institution is willing to take.

help investors understand the risk a financial institution is willing to take.

help customers understand which financial institutions may be willing to bank their business.

eliminate high-risk business types from a financial institution.

Conduct an open-source intelligence investigation using artificial intelligence tools to gain more information on the activities of the suspected employee

Use the FI's whistleblowing channel to report the suspected employee

Question their co-worker to determine if their suspicions are correct before reporting to the FI's Human Resources department

Warn colleagues and customers of the FI that the employee's suspicious financial investment proposals could be a scam

Report the suspected employee to the line manager of the FI to take the required action

Make copies of the customer's documents and submit the originals to the enforcement agency

Notify the customer being investigated before submitting documents

Keep the customer's accounts open at the enforcement agency's verbal request

Have the institution's assigned legal counsel review the subpoena

Knowing the goods or services, if identified, do not match the profile of the company or the nature of the financial activity

All payments are in smaller amounts below reporting thresholds but are high when aggregated while still being consistent with standard business practices

A company regularly conducts large-volume transactions in a medium-risk jurisdiction with longstanding business partners and provides complete documentation and audit trails

Insufficient or no information is available to identify originators or beneficiaries of funds transfers through searches or direct inquiries

Payments have no stated purpose, do not reference goods or services, or only reference a contract or invoice number