- Study guides, Revision notes & Summaries

Ace your Certified Anti-Money Laundering Specialist (CAMS) exam with this fully updated 2025 practice test and study guide. This essential resource covers the latest AML/CFT regulations, risk assessment methods, compliance frameworks, and investigative techniques. Designed for financial compliance professionals, these verified questions and answers reflect current global standards to help you master key concepts, navigate complex scenarios, and build the confidence needed to score 100% on your C...

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7 pages

Written in 2025/2026

Grade A+

ThePlug

Account Opening Requirements - Natural Person Ans • Legal name (first and last) and any other names used (such as maiden name, former legal name or alias). • Complete residential address and, on the basis of risk, also the business address or post office number. • Landline or mobile telephone numbers and e-mail address. • Date and place of birth, and gender. • Nationality and residency status. • Occupation, position held and name of employer. • An official persona...

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18 pages

Written in 2025/2026

Grade A+

cracker

(blank) provide a legal basis for transmitting evidence that can be used for prosecution and judicial proceedings Ans MLATs A bank should retain outside legal counsel to conduct all investigations Ans False A financial institution may initiate investigations in response to notable media stories like the following, EXCEPT: Ans A story about the corporate takeover of one of its customer's companies

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5 pages

Written in 2025/2026

Grade A+

cracker

__________ takes place when one bank provides services to another bank to move funds, exchange currencies, and access investment services. Shell Banking Correspondent banking. International banking. Pay-through accounting. Ans Correspondent banking. "Smurfing" is: A method of concealing a weblog. Transferring small amounts of encrypted information over the Internet. Frequent transfer of funds in amounts too small to trigger a CTR.

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15 pages

Written in 2025/2026

Grade A+

cracker

1. Provisions of the BSA require a financial institution to report to FinCEN on a Currency Transaction Report (CTR) any large currency transaction that exceeds $5,000. $10,000. $20,000. $50,000. Ans $10,000. 10. Under the BSA, a Currency Transaction Report (CTR) which is not filed electronically must be filed within ______ following the day on which the reportable transaction occurred. 5 weeks 20 days 24 hours 15 days Ans 15 days

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23 pages

Written in 2025/2026

Grade A+

cracker

1. Which of the following is the most common method of laundering money through a legal money services business? A. Purchasing structured money instruments. B. Smuggling bulk-cash. C. Transferring funds through Payable Through Accounts (PTAs). D. Exchanging Colombian pesos on the black market. Ans A. 2. In general, the three phases of money laundering are said to be: Placement: A. Structuring and manipulation. B. Layering and integration. C. Layering and smurfing. D. Int...

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45 pages

Written in 2025/2026

Grade A+

cracker

39. According to the European Union's Fourth Directive, the threshold for entities obliged to report suspicious transactions decreased to A. $5,000 euros. B. $10,000 euros. C. $15,000 euros. D. $20,000 euros. Ans b A compliance officer is looking to improve a compliance program for a financial institution that operates in several countries. The institution has developed consistent customer due diligence (CDD) requirements for all customers of the institution that exceed e...

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52 pages

Written in 2025/2026

Grade A+

cracker

2008 Egmont Group opened in Ans Toronto, Canada 2015 FIU of the Egmont Group had Ans 154 Financial Intelligence Units (FIUs) of the Egmont Group, including Canada (FINTRAC) and even many nations deemed to be tax havens and possible prime targets for money launderers such as the Bahamas, the Cayman Islands, Colombia, Lichtenstein, and Vanuatu.

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28 pages

Written in 2025/2026

Grade A+

cracker

A sound CDD program should include Ans Customer identification, profiles, customer acceptance, risk rating, monitoring, investigation, documentation According to the Basel Committee, the three (3) lines of defense are Ans Business, AML compliance function, and audit function AMLD1 (Money Laundering: Preventing Use of the Financial System) was adopted in Ans June 1991

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13 pages

Written in 2025/2026

Grade A+

cracker

A bank can apply the following methods to reduce the money laundering risk associated with third party payment processors Ans implementing a policy that requires an initial background check of the processor and the processors underlying merchants restrict the types of entities for which the bank will allow processing services A bank must establish the accuracy of every element of identifying information obtained under the CIP Ans False

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33 pages

Written in 2025/2026

Grade A+

cracker

3 Stages of Money Laundering: Ans Stage 1: Placement - The first stage in cleaning illicit funds is placing them in the laundering system with little or no effort to disguise their illegal origins Stage 2: Layering - The layering stage is where launderers attempt to conceal the source of the funds or assets, in order to make them harder to detect Stage 3: Integration - Integration is when illegal funds are commingled with legitimate funds. The funds would then appear to be legal from t...

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7 pages

Written in 2025/2026

Grade A+

cracker

Alternative Remittance System (ARS) Ans Underground banking or informal value transfer system. There is no physical movement of currency and a lack of formality with regard to verification and record keeping. The money transfer takes place by coded information. AML Program Ans 1. Written Internal Policies, Procedure and controls 2. A designated AML compliance Officer 3. On-going employee training 4. Independent review to test the program

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12 pages

Written in 2025/2026

Grade A+

cracker

_____ includes representatives from various countries cooperating to combat money laundering. Ans *FATF* ______ involves moving funds around in the financial system to obscure the paper trail and sever the link with the original illegal source Ans *Layering* A business customer makes several cash deposits on the same day for a total of $12,500 Ans CTR report

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7 pages

Written in 2025/2026

Grade A+

cracker

________ is the designated administrator of the Bank Secrecy Act (BSA). Ans FinCEN "Smurfing" occurs in the ________ stage of money laundering. Ans placement A CIP must provide customers with notice that the financial institution will request identity verification: Ans individually or in a manner reasonably designed to ensure that the customer is able to view it. A financial institution is required to produce account information relating to foreign bank accounts wi...

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4 pages

Written in 2025/2026

Grade A+

cracker

Review Test Anti Money Laundry questions with accurate answers.

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4 pages

Written in 2025/2026

Grade A+

cracker

ABC Bank was served with a search warrant. What next steps should the Bank consider? Ans 1. Call the financial institution's in‐house or outside counsel, 2. Review the warrant to understand its scope, 3. Ask for and obtain a copy of the warrant, 4. Ask for a copy of the affidavit that supports the search warrant (the agents are not obligated to provide a copy of the affidavit, but, if a financial institution is allowed to see the affidavit, the financial institution can learn...

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43 pages

Written in 2025/2026

Grade A+

cracker

A financial institution is concerned about the possibility of the proceeds from human trafficking being funneled through the institution. The institution should be concerned about and be on the lookout for all of the following, EXCEPT Ans A group of four women visiting the financial institution together, but to open separate accounts According to the AML/CTF risk categories, (blank) customers may include politically exposed persons (PEPs) or certain types of money services busin...

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6 pages

Written in 2025/2026

Grade A+

cracker

a customer whose residence in New Jersey is seeking to purchase an annuity in Florida. At a minimum, what is the best response from insurance agent? Ans proceed with the application, so long as the customer can provide adequate verification of his or her identity. a large financial institution with offices throughout the world has failed to comply with certain anti-money laundering laws. Which of the following would not be a sanction of fact May apply? Ans fine of $10 Al...

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10 pages

Written in 2025/2026

Grade A+

cracker

Case Management Actual Complete Exam|With Accurate Questions And Verified Answers|Graded A

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17 pages

Written in 2025/2026

Grade A+

cracker

________ _________ is a financial statement that summarizes a company's assets, liabilities (what you own and what you owe) plus the net worth at a specific point in time. Ans balance sheet ________ _____________ is the process of making illegally obtained proceeds appear legal. Ans Money Laundering

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6 pages

Written in 2025/2026

Grade A+

cracker