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Free CAMS7 Exam Braindumps
Certified Anti-Money Laundering Specialist (the 7th edition) Questions 56–60 (page: 13)

Updated On: 9-Feb-2026
Page 13 of 63
PDF with 469 Questions

What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?

  1. They provide technical assistance to members in implementing FATF recommendations
  2. They assist member countries in penalizing entities that violate FATF standards and recommendations
  3. They work with members on areas of concern outside of anti-money laundering and terrorist financing
  4. They supervise member country financial institutions relating to anti-money laundering and terrorist financing

Answer(s): D


Reference:

https://www.fatf-gafi.org/media/fatf/documents/brochuresannualreports/FATF30-(1989-2019).pdf



What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?

  1. Investigation and reputational damage
  2. Fines and suspension from the industry
  3. Criminal investigation and imprisonment
  4. Enforcement actions including fines against the financial institution

Answer(s): C


Reference:

https://books.google.com.pk/books?id=qKLr7IdWCqsC&pg=PA9&lpg=PA9&dq=What+are+the
+regulatory+risks+to+a+bank+employee+who+willfully+violates+anti-money+laundering+laws&source=bl&ots=gZzA0Ey5nB&sig=ACfU3U29fq8lwYh08XqdR1X7sWSISySPZw&hl=en&sa=X&ved=2ahUKEwiHwKHTjIvmAhWqwzgGHfW_AToQ6AEwC3oECAkQAQ#v=onepage&q=What%20are%20the%20regulatory%20risks%20to%20a%20bank%20employee%20who%20willfully%20violates%20anti-money%20laundering%20laws&f=false



What are two requirements with respect to supporting documentation that is used to identify potentially suspicious activity, according to Financial Action Task Force? (Choose two.)

  1. It must be retained for at least five years
  2. It must be retained for at least seven years
  3. It must be kept in a manner so that it can be provided promptly
  4. It must only be released to the government through a subpoena process

Answer(s): A,C


Reference:

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



What are two reasons physical certificates present a money laundering risk to broker-dealers? (Choose two.)

  1. The trade information on a physical certificate can be easily altered
  2. Physical certificates do not expire and may be held by the owner for perpetuity
  3. There is little information readily available to the broker confirming the source of the funds
  4. Physical certificates may be provided to nominees for deposit or settled in off-market transactions

Answer(s): C,D



An automotive parts company in South America sends multiple $500, 000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information.

What are two red flags that indicate how trade-based money laundering could be occurring in this instance? (Choose two.)

  1. The transaction involves the use of front (or shell) companies
  2. The packaging is inconsistent with the commodity or shipping method
  3. Significant discrepancies appear between the description of the commodity on the bill of lading and the invoice
  4. The type of commodity being shipped appears inconsistent with the exporter or importer’s regular business activities

Answer(s): A,D



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