Acams test review 2023 Study guides, Revision 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...

ACAMS (Test Review)2023 updated already passedIdentify the seven topics of international incorporated into the FATF 40 recommendations in 2012? - correct answer AML/CFT policies & procedures. Money Laundering & confiscation. Terrorist financing & financing of proliferation. Financial & non-financial institution preventative measures. Transparency & beneficial ownership of legal persons & arrangements. Powers & responsibilities of competent authorities & other institutional measures. Inter...

Identify the seven topics of international incorporated into the FATF 40 recommendations in 2012? correct answersAML/CFT policies & procedures. Money Laundering & confiscation. Terrorist financing & financing of proliferation. Financial & non-financial institution preventative measures. Transparency & beneficial ownership of legal persons & arrangements. Powers & responsibilities of competent authorities & other institutional measures. International cooperation. According to the Egmont...

ACAMS Exam Review 2023 Define "smurfing." 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? Section 312 -- Requirement that institutions create risk-based due diligence programs Section 313 -- Prohibits US financial institutions from dealing with she...

ACAMS Exam Review 2023 Define "smurfing." 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? Section 312 -- Requirement that institutions create risk-based due diligence programs Section 313 -- Prohibits US financial institutions from dealing with she...

ACAMS Vocabulary question with complete solution rated A+ 2023 updated to passAccount monitoring order - correct answer ____ _____ ____ : In the United Kingdom and several other countries, an order from a government authority requiring a nancial institution to provide transaction information on a suspect account for a speci ed time period. Affadavit - correct answer _____ : A written statement given under oath before an of cer of the court, notary public, or other authorized person. It is com...

ACAMS Exam Review 2023 Define "smurfing." - 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? - *Section 312* -- Requirement that institutions create risk-based due diligence programs *Section 313* -- Prohibits US financial institutions from dealing wi...

ACAMS Vocabulary Questions and Answers 2023 Account monitoring order ____ _____ ____ : In the United Kingdom and several other countries, an order from a government authority requiring a nancial institution to provide transaction information on a suspect account for a speci ed time period. Affadavit _____ : A written statement given under oath before an of cer of the court, notary public, or other authorized person. It is commonly used as the factual basis for an application for a sear...