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To become a CAMS certified professional, candidates must pass a rigorous exam that consists of 120 multiple-choice questions. CAMS exam is divided into four sections, and candidates are required to score at least 75% in each section to pass the exam. CAMS exam is computer-based and can be taken at various testing centers around the world. Certified Anti-Money Laundering Specialists certification is valid for three years, after which professionals are required to renew their certification by completing continuing education courses.

Passing the CAMS exam demonstrates an individual's commitment to professional excellence and their dedication to staying current with the latest AML trends and regulations. It also enhances their credibility and marketability as an AML professional, opening up opportunities for career advancement and increased earning potential.

The CAMS Certification Exam is highly regarded by employers and regulatory agencies worldwide, as it demonstrates the candidate’s commitment to the highest standards of AML and financial crime prevention. CAMS exam covers four key areas of AML and financial crime prevention: risk assessment, customer due diligence, transaction monitoring, and investigations. Candidates must pass a 120-question multiple-choice exam within a four-hour time limit, and they must score at least 75% to pass. The CAMS certification is valid for three years, and continuing education is required to maintain the certification.

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q677-Q682):

NEW QUESTION # 677
Potential indicators of money laundering associated with Trust and Company Service Providers include:
(Select Two.)

A. frequent deposits to or withdrawals from bank accounts.
B. use of legal persons in jurisdictions with strict secrecy laws.
C. generation of rental income to legitimize illicit funds.
D. multi-jurisdictional wire transfers with no legal purpose.
E. structuring cash deposits into third party accounts.

Answer: B,D

Explanation:
Explanation
This is stated in the Certified Anti-Money Laundering Specialist (the 6th edition) manual on page 595, which states: "Potential indicators of money laundering associated with Trust and Company Service Providers include the use of legal persons in jurisdictions with strict secrecy laws, structuring cash deposits into third party accounts, multi-jurisdictional wire transfers with no legal purpose, and frequent deposits to or withdrawals from bank accounts."

NEW QUESTION # 678
Which red flag is most relevant to money laundering through capital markets?

A. A firm sees an unexpected increase in demand for electronically traded funds.
B. A low-priced security sees a sudden spike in investor demand with a rising price.
C. A trading customer maintains a portfolio of securities concentrated in one specific emerging market.
D. A security sees a transactional pattern of a steady decrease in both trading volume and prices.

Answer: B

Explanation:
Money laundering through capital markets often involves pump-and-dump schemes, wash trading, and layering funds through rapid trading activity.
Option A (Correct): A sudden spike in demand for a low-priced security is a red flag for pump-and-dump schemes, where criminals manipulate the market to inflate stock prices artificially before selling off shares for a profit.
Option B (Incorrect): A gradual decline in trading volume and price does not indicate suspicious activity related to money laundering.
Option C (Incorrect): An increase in demand for ETFs is common and not necessarily linked to money laundering.
Option D (Incorrect): Holding securities in one specific emerging market may indicate a geographic investment strategy, not necessarily money laundering.
Common Money Laundering Typologies in Capital Markets:
Pump-and-Dump Schemes - Fraudulently inflating stock prices to cash out illicit funds.
Wash Trading - Conducting self-trades to create an illusion of high market activity.
Layering Funds Through Rapid Trading - Engaging in frequent buy-and-sell orders to obfuscate the origin of funds.
Best Practices for AML in Capital Markets:
Monitor unusual trading volume and price fluctuations.
Use AI-driven surveillance systems to detect manipulative behavior.
Investigate transactions involving offshore brokers or shell entities.
Reference:
FATF Report on Money Laundering in Capital Markets
SEC and FINRA Guidance on Market Manipulation Risks
Wolfsberg Group Principles for Capital Markets AML Compliance

NEW QUESTION # 679
the Financing of Terrorism (CFT)]
Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a

A. respondent bank, certifying that they do not do business with shell banks.
B. federal receiver" certifying that he is not the beneficial owner of the correspondent account.
C. correspondent bank, certifying that they do not open correspondent accounts for alternative remittance companies.
D. respondent bank, certifying that they do not do business with politically exposed persons.

Answer: A

Explanation:
it describes the word "certification" as a written representation by a respondent bank, certifying that they do not do business with shell banks. This is one of the requirements for correspondent accounts in the USA PATRIOT Act, which is a law enacted in 2001 to enhance the anti-money laundering and counter-terrorist financing (AML/CTF) measures in the United States. The USA PATRIOT Act requires that correspondent banks, which are banks that provide services to other banks, such as clearing, settlement, or cash management, to obtain a certification from their respondent banks, which are banks that receive services from correspondent banks, to ensure that they are not involved in money laundering or terrorist financing activities.
One of the elements of the certification is that the respondent bank does not do business with shell banks, which are banks that have no physical presence or meaningful supervision in any jurisdiction, and are often used by money launderers and other criminals to hide their identity and funds.
The other options are not necessarily the word "certification" as a written representation by a respondent bank under the USA PATRIOT Act, although they may have some relevance or importance depending on the circumstances and the nature of the correspondent relationship. Option A describes a possible certification by a federal receiver, which is a person appointed by a court to take custody and control of the assets of a failed bank, but this is not related to the correspondent accounts requirements in the USA PATRIOT Act. Option B describes a possible certification by a respondent bank, certifying that they do not do business with politically exposed persons (PEPs), which are individuals who hold or have held prominent public positions or their close associates or family members, and who may pose a higher risk of money laundering or corruption, but this is not a mandatory element of the certification under the USA PATRIOT Act, although itmay be a good practice or a risk-based measure. Option C describes a possible certification by a correspondent bank, certifying that they do not open correspondent accounts for alternative remittance companies, which are businesses that provide money transfer or payment services outside the formal banking system, and which may pose a higher risk of money laundering or terrorist financing, but this is not a requirement for the respondent bank under the USA PATRIOT Act, although it may be a regulatory obligation or a risk-based measure for the correspondent bank.
:
ACAMS CAMS Certification Video Training Course - 6th Edition1
Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)2 ACAMS CAMS Study Guide - 6th Edition, Chapter 7, pages 156-157: https://www.acams.org/wp-content/uploads/2019/09/ACAMS-CAMS-Study-Guide-6th-Edition-Chapter-7.
pdf

NEW QUESTION # 680
Which safeguard is in place for Financial Intelligence Units (FIUs) to share information securely according to Egmont?

A. A computer with access to the Egmont Secure Web is accessible to all members of the FIU.
B. Investigators are allowed to request information from a foreign FIU directly.
C. Information sharing is conducted according to processes contained in Memoranda of Understanding.
D. Intelligence is shared via messaging applications.

Answer: A

Explanation:
According to the Egmont Group of Financial Intelligence Units Principles for Information Exchange Between Financial Intelligence Units, one of the channels for the exchange of information between FIUs is the Egmont Secure Web (ESW), which is a secure and encrypted communication system that allows FIUs to share information and expertise1. The ESW is accessible to all members of the FIU who have been authorized by the FIU head or his/her delegate1. The other options are not correct because:
* B. Information sharing is not always conducted according to processes contained in Memoranda of Understanding (MOUs). The Egmont Group encourages FIUs to exchange information regardless of the existence of an MOU1.
* C. Intelligence is not shared via messaging applications. This would not be a secure or reliable way of exchanging sensitive information.
* D. Investigators are not allowed to request information from a foreign FIU directly. Requests for information must be made through the FIU of the requesting country1.
References:
* Egmont Group of Financial Intelligence Units Principles for Information Exchange Between Financial Intelligence Units
* The Egmont Group of Financial Intelligence Units | FinCEN.gov
* The Egmont Group of The Egmont Group of Financial Intelligence Units
Reference: https://www.elibrary.imf.org/view/books/069/02365-9781589063495-en/ap01.xml

NEW QUESTION # 681
A typical red flag regarding potential money laundering in connection with an art purchase occurs when a customer:

A. asks to pay a large amount in cash without a comprehensible reason.
B. pays more at an auction for a painting than the estimated maximum price.
C. buys a painting as an anonymous bidder and provides the source of wealth.
D. asks to pay in installments and pays from two differently named accounts.

Answer: A

Explanation:
Paying a large amount in cash for an art purchase is a typical red flag of potential money laundering, as it may indicate an attempt to avoid traceability and reporting requirements. Cash transactions are often used by criminals to launder illicit funds, as they are difficult to track and verify. According to the FATF guidance on money laundering and terrorist financing risks in the art trade, cash payments above a certain threshold should be subject to enhanced due diligence and reporting obligations by art market participants (AMPs). AMPs should also be wary of customers who provide insufficient or inconsistent information about the source of funds, the purpose of the transaction, or the identity of the beneficial owner.
References:
Money Laundering and Terrorist Financing Risks and Vulnerabilities Associated with Gold, FATF, July 2023, p. 22-23.
Money Laundering and Terrorist Financing Vulnerabilities of Legal Professionals, FATF, June 2023, p. 38-39.
Red Flags Money laundering and terrorist financing risks, Responsible Art Market, 2017, p. 2.

NEW QUESTION # 682
......

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