Guides d'étude, Notes de cours & Résumés

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...

2 ways remittance services can foster ML - Ans • 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 - Ans • By way of chain transactions in real estate to cloak the illicit source of funds (the layering phase), • By investment in, f...

Tom works as a compliance officer at ABC bank. He is looking at the transactions of one of the bank's customers, Mr. Brown. Mr. Brown is the owner of a check cashing company which performs only check cashing services. Over the last six months, Mr. Brown has not made withdrawals of cash against check deposits. He also deposited two checks for US$2,000 each that were issued by a casino. When checking the KYC file, Tom sees that, when opening the account, Mr. Brown had requested detailed info...

How does the scope of the European Union's Third Money Laundering Directive differ from the Second Money Laundering Directive? - Ans It specifically includes the category of trust and company service providers, • It covers all dealers trading in goods who trade in cash over 15,000 Euros, and The definition of financial institution includes certain insurance intermediaries. What is money laundering? - Ans Money laundering is the taking of criminal proceeds and disguising their illegal so...

Define a red flag. - Ans A warning signal that should bring attention to a potentially suspicious situation, transaction or activity. Define willful blindness. - Ans A legal principle that operates in money laundering cases in the U.S. and is defined by courts as the "deliberate avoidance of knowledge of the facts" or purposeful indifference. Courts have held that willful blindness is the equivalent of actual knowledge of the illegal source of funds or the intentions of a customer in a mo...

Which of the following is the most common method of laundering money through a legal money services business? A. Purchasing structured money settlements B. Smuggling bulk-cash C. Transferring funds through Payable Through Accounts (PTAs) D. Exchanging Columbian pesos on the black market - Ans A. Purchasing structured money settlements

Identify the 3 important tasks that FATF focuses on - Ans 1. Spreading the anti-money laundering message worldwide 2. Monitoring implementation of the FATF Recommendations among FATF members 3. Reviewing ML trends and counters asures According to the FATF 40 Recommendations, the complete set of countermeasures against ML and TF cover what 5 elements? - Ans 1. Identification of risks and development of appropriate policies 2. Criminal justice system and law enforcement 3. The financial sy...

. 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

Structuring - Ans Designing a transaction to evade triggering a reporting or record-keeping requirement. Smurfing - Ans 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

C - Ans The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - Ans The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - Ans Which of the following would be satisfactory elements of an Anti-Money Laundering Program?

Account Monitoring Order - Ans In the United Kingdom and several other countries, an order from a government authority requiring a financial institution to provide transaction information on a suspect account for a specified time period. Affidavit - Ans A written statement given under oath before an officer of the court, notary public, or other authorized person. It is commonly used as the factual basis for an application for a search, arrest or seizure warrant.