Question: 17

FATF recommends the incorporation of some measures in customer due diligence (CDD) programs including:

conducting the risk assessment of products and services.
conducting ongoing due diligence on the business relationship and monitoring of transactions.
identifying the products and services and their suitability to customers.
identifying the number of beneficial owners without the verification of their true identity.

Answer(s): B

Reference:

https://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF%20Recommendations%202012.pdf (15)

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Question: 18

OFAC-issued regulations apply to which entities? (Choose two.)

Intermediaries transacting with US banks
Foreign banks with US customers
Foreign subsidiaries of US banks
US branches of a foreign bank
Foreign import-export companies

Answer(s): A,C

Reference:

https://bsaaml.ffiec.gov/manual/OfficeOfForeignAssetsControl/01

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Question: 19

The process of sending mass emails to unsuspecting customers to obtain personal identifiable information via trickery is known as:

Spear phishing
Voice phishing
Bulk phishing
SMS phishing

Answer(s): C

Reference:

https://en.wikipedia.org/wiki/Phishing

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Question: 20

When a financial institution (FI) is requested to provide data and information to a law enforcement agency for matters related to financing of terrorism, assistance:

can be refused on the ground of bank secrecy.
cannot be refused on the ground of bank secrecy.
can be refused on the ground of tipping-off.
cannot be refused on the ground of tipping-off.

Answer(s): B

Reference:

https://www.fatf-gafi.org/media/fatf/documents/reports/AML_CFT_Measures_and_Financial_Inclusion_2013.pdf

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Free ACAMS CAMS Exam Questions (page: 6)

Question: 17

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Question: 18

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Question: 19

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Question: 20

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