ACFCS Certification Exam Questions With Correct Answers

ACFCS Certification Exam
Questions With Correct Answers

what |is |the |definition |of |financial |crime |- |CORRECT |ANSWER✔✔-any |non-violent |crime |
resulting |in |financial |loss



what |is |the |difference |between |money |laundering |and |financial |crime |- |CORRECT |
ANSWER✔✔-money |laundering |is |a |type |of |financial |crime



financial |institutions |can |be |involved |in |financial |crime |in |3 |ways |- |CORRECT |ANSWER✔✔-1. |as
|a |victim



2. |as |a |perpetrator |

3. |as |an |instrumentality



what |is |an |instrumentality |- |CORRECT |ANSWER✔✔-using |a |financial |institution |to |launder |
money |through |accounts



synthetic |identity |fraud |- |CORRECT |ANSWER✔✔-commit |fraud |over |a |long |period |of |time |in |
small |ways |that |look |like |it |could |be |legit |for |that |customer



corporate |governance |- |CORRECT |ANSWER✔✔-responsible |for |high |level |functions |that |help |
inform |and |guide |all |other |compliance |areas



what |does |the |analytics |department |usually |oversee |- |CORRECT |ANSWER✔✔-they |support |risk
|assessments, |oversee |tools |used |for |transaction |monitoring, |sanction |screening, |and |PEPs