ACAMS (Test Review)

ACAMS Practice Test 2 (Flash Cards) When a financial institution is served with a search warrant by a law enforcement agency, what are three things that the employees of the institution should do? - They should cooperate fully with the law enforcement agents and remain calm and polite. - They s...

ACAMS Study Guide Practice Questions 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 Colom...

ACAMS-Prep-Mock EXAM What are three indicators of money laundering associated with using electronic funds transfers? - ANSWER-Funds transfers to or from financial secrecy haven without an apparent business reason. Funds transfers are received or sent from the same person to or from different ac...

ACAMS Identify the 3 important tasks that FATF focuses on - ANSWER-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 compl...

ACAMS Exam Prep 1-10 Examples of best practices in terms of ensuring an adequate AML program - ANSWER-1. Review the accuracy of account opening applications 2. Review applicable domestic and international AML guidance 3. Perform a risk analysis basis and compare it to tnr coverage of the AML pr...

ACAMS Terms & Questions (Exam) Basel Committee on Banking Supervision - answer-The Basel Committee was established by the G-10's central bank of governors in 1974 to promote sound supervisory standards worldwide. It's Secretariat is appointed by the Bank of International Settlements in Basel, ...

ACAMS practice exam 2024 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 o...

ACAMS Chapter 2: International AML/CFT Standards Financial Action Task Force (FATF) - ANSWER-An international, intergovernmental organization composed of members from more than 30 countries, whose primary purpose is the development and promotion of policies, at both national and international l...