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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...

CAMS Exam Questions & Answers 2024/2025 Moneyval - ANSWERSCouncil of European committee of Experts on the Evaluation of AML measures and the Financing of Terrorism GAFISUD - ANSWERSFinancial Action Task Force on Money Laundering in South America MENAFATF - ANSWERSMiddle East and North Africa Financial Action Task Force EAG - ANSWERSEurAsian Group GIABA - ANSWERSIntergovernmental Action Group against Money Laundering in Africa Why is 'refining' critical to a money launderer...

CAMS Exam Questions & Answers 2024/2025 What is money laundering? - ANSWERStaking CRIMINAL proceeds and disguising their illegal sources to USE the funds for LEGAL or ILLEGAL acts. Give an example of the SECOND stage of money laundering. - ANSWERSLayering - Electronically moving funds between countries; moving funds between financial institutions; and converting cash placed into the system into monetary instruments. Give an example of the THIRD stage of money laundering. - ANSWERSInte...

CAMS EXAM QUESTIONS AND ANSWERS Terms in this set (323) Moneyval Council of European committee of Experts on the Evaluation of AML measures and the Financing of Terrorism GAFISUD Financial Action Task Force on Money Laundering in South America MENAFATF Middle East and North Africa Financial Action Task Force EAG EurAsian Group GIABA Intergovernmental Action Group against Money Laundering in Africa Why is 'refining' critical to a money launderer's efforts? If one needs to tr...

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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 QUESTIONS & ANSWERS 2024/2025 Which of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A launderer can launder money by prepaying his credit card using funds that are already in the banking system, creating a credit balance on his account, and req...

Which of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A launderer can launder money by prepaying his credit card using funds that are already in the banking system, creating a credit balance on his account, and requesting a credit refund D A launderer can use ill...

ACAMS Exam Questions and Answers 100% CorrectACAMS Exam Questions and Answers 100% CorrectACAMS Exam Questions and Answers 100% Correct 2 ways remittance services can foster ML - ANSWER-• 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 Es...

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What is money laundering? Correct Answer taking CRIMINAL proceeds and disguising their illegal sources to USE the funds for LEGAL or ILLEGAL acts. Give an example of the SECOND stage of money laundering. Correct Answer Layering - Electronically moving funds between countries; moving funds between financial institutions; and converting cash placed into the system into monetary instruments. Give an example of the THIRD stage of money laundering. Correct Answer Integration - Purchasing luxury...