Acams e Study guides, Study notes & Summaries

ACAMS Certification Exam 2023-2024 Questions and Answers Correct C - The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - Which of the following would be satisfactory elements of an Anti-Money Laundering Program? I - A CAMS certified employee in the Investiga...

Which of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on the black market - a In general, the three phases of money laundering are said to be: placement and A. structuring and manipulation. B. layering and integration. C. layering and smurfing. D. integration and infiltration...

ACAMS exam | Questions and Answers Graded A+ Latest 2024 ACAMS exam | Questions and Answers Graded A+ Latest 2024 ACAMS exam | Questions and Answers Graded A+ Latest 2024

ACAMS Exam| Practice Questions and Answers Graded A+ 2024 ACAMS Exam| Practice Questions and Answers Graded A+ 2024 ACAMS Exam| Practice Questions and Answers Graded A+ 2024

Define "smurfing." - Answer- The use of multiple individuals and/or transactions for making cash deposits, buying monetary transactions or banks drafts in amounts under the reporting threshold. (NB: Some equate this term with structuring) What are the sections of the USA PATRIOT Act pertaining to AML due diligence? - Answer- *Section 312* -- Requirement that institutions create risk-based due diligence programs *Section 313* -- Prohibits US financial institutions from dealing with shell...

Bank Draft - Answer- Vulnerable to money laundering because it represents a reputable international monetary instrument drawn on a reputable institution, and is often made payable-in cash-upon presentation and at the issuing institution's account in another country. Bank for International Settlements (BIS) - Answer- AN international organization that serves as a bank for central banks and which fosters international monetary and financial cooperation with the purpose of attaining stability i...

Structuring - Answer- Designing a transaction to evade triggering a reporting or record-keeping requirement. Smurfing - Answer- Multiple individuals making multiple cash deposits and/or buying multiple monetary instruments or bank drafts in amounts under the reporting threshold in an attempt to evade detection Microstructuring - Answer- Structuring done at a much smaller level Wash-trading or "offsetting" accounts - Answer- The entry of matching buys and sells in particular securities...

ACAMS Exam Questions and 100% Correct Answers Graded A+ | Latest 2024 ACAMS Exam Questions and 100% Correct Answers Graded A+ | Latest 2024 ACAMS Exam Questions and 100% Correct Answers Graded A+ | Latest 2024

ACAMS Exam Questions & Answers 2024/2025 Bank Draft - ANSWERSVulnerable to money laundering because it represents a reputable international monetary instrument drawn on a reputable institution, and is often made payable-in cash-upon presentation and at the issuing institution's account in another country. Bank for International Settlements (BIS) - ANSWERSAN international organization that serves as a bank for central banks and which fosters international monetary and financial cooperati...

ACAMS Exam 3 Questions And 100% Answers 2 ways remittance services can foster ML - ANSWERS • Packages containing large cash sums and even drugs anonymously. • Another technique commonly used by money remitters and currency exchanges is for the broker to make the funds available to the criminal organization at the destination country in the local currency. 2 Ways to launder money in Real Estate - ANSWERS • By way of chain transactions in real estate to cloak the illicit source ...