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Free CAMS7 Exam Braindumps
Certified Anti-Money Laundering Specialist (the 7th edition) Questions 21–25 (page: 6)

Updated On: 9-Feb-2026
Page 6 of 63
PDF with 469 Questions

What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)

  1. Incorporate suspicious activity monitoring into periodic reviews
  2. Incorporate due diligence results such as customer risk ratings
  3. Utilize downstream correspondents to investigate and report suspicious activity
  4. Investigate and report suspicious activity only for the correspondent bank’s clients

Answer(s): B,C



When should the anti-money laundering risk assessment be updated?

  1. Every two years
  2. After a merger or acquisition
  3. When the board of directors changes
  4. When instructed to by the Financial Action Task Force

Answer(s): B


Reference:

https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/faqs/17.%20Wolfsberg-Risk-Assessment-FAQs-2015.pdf (10)



A customer brings $15, 000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party.

What are two red flags that indicate money laundering? (Choose two.)

  1. Customer redeeming all remaining chips
  2. Playing various games before cashing out
  3. Bringing $15, 000 worth of chips into the casino
  4. Requesting a wire transfer to an unrelated third party

Answer(s): A,D



A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank’s jurisdiction.

Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

  1. Identify the money laundering scheme and submit a suspicious transaction report
  2. Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the bank
  3. Identify deposits by casas de cambio that include third-party items including sequentially numbered monetary instruments
  4. Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no apparent business relationship with that casa de cambio

Answer(s): C,D



Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)

  1. Law enforcement and other authorities should have access to financial information that is pertinent to the investigation.
  2. Every country should share all their information with foreign law enforcement and government authorities to facilitate rapid investigations.
  3. Law enforcement and other authorities should be allowed to establish and utilize joint investigative teams with law enforcement in other countries.
  4. Law enforcement and other authorities should not expedite information sharing between countries to ensure that all information is provided at the same time to avoid premature conclusions.

Answer(s): B,C



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