ACAMS CAMS-FCI Actual PDF : Advanced CAMS-Financial Crimes Investigations

During transaction monitoring. Bank A learns that one of its customers. Med Supplies 123, is attempting to make a payment via wire totaling 382.500 USD to PPE Business LLC located in Mexico to purchase a large order of personal protective equipment. specifically surgical masks and face shields. Upon further verification.
Bank A decides to escalate and refers the case to investigators.
Bank A notes that days prior to the above transaction, the same customer went to a Bank A location to wire
1,215,280 USD to Breath Well LTD located in Singapore. Breath Well was acting as an intermediary to purchase both 3-ply surgical masks and face shields from China. Bank A decided not to complete the transaction due to concerns with the involved supplier in China. Moreover, the customer is attempting to send a third wire in the amount of 350,000 USD for the purchase of these items, this time using a different vendor in China. The investigator must determine the next steps in the investigation and what actions, if any. should be taken against relevant parties.
The investigator is gathering more information to determine if a SAR/STR filing is needed. Which steps are the correct ways of collecting the additional information? (Select Two.)

• A. Reach out to the relationship manager asking if more up-to-date customer due diligence information can be collected on the customer.
• B. Issue a USA PATRIOT ACT Section 314(b) request to participating financial institutions advising that information is needed to decide if the activity is suspicious.
• C. Use available documentation received from law enforcement (e.g.. grand jury subpoena) as red flags in SAR/STR filing.
• D. Conduct open-source research to determine if the customer and involved counterparties are in the same business field.
• E. Reach out to the customer and ask for supporting documentation for the conducted wires to avoid SAR/STR filing.

Which action is part of the enhanced due diligence process?

• A. Verifying the source of wealth for entities and natural person clients
• B. Applying higher ownership percentage requirement for beneficial ownership collection
• C. Collecting beneficial ownership details regarding the client's account
• D. Using standard monitoring procedures to monitor transactions and account activity

Law enforcement (LE) suspects human trafficking to occur during a major sporting event. LE officers asked several financial institutions (FIs) to monitor financial transactions occurring before, during, and after the event.
An investigator identified a pattern linked to a business. The business' account received multiple even dollar deposits between midnight and 4:00 AM. They occurred each day for several days prior to the date of the sporting event. Also, large cash deposits, typically between 2,000 USD and 3,000 USD. made by a person to the business' account occurred in many branches in the days after the sports event.
There was little information about the company. The company did not have any history of employee payroll expenses or paying taxes. Expenses from the business account included air travel and hotel expenses. Searches about the person making cash deposits showed little. An online social media platform webpage with the individual's name showed ads for dates" and "companionship." The Fl receives a keep open' letter from LE for the identified account and agrees to keep the account open.
What is the Fl required to do?

• A. Notify LE immediately after new transactions.
• B. Ensure that the request includes an end date.
• C. Contact the client for information relating to the account.
• D. Stop filing SAR/STR reports on the account and/or customer.

An investigator is reviewing a case generated from the transaction monitoring system, with two large amounts of incoming remittance (IR) to an individual customer. Based on the KYC profile, the customer is a plant manager of a famous multi-national electronics manufacturing firm. As the customer has no similarly large transaction patterns for the past 2 years, the investigator sends an inquiry to the relationship manager (RM) about the nature of the transaction. The RM replies that the transaction is a consultancy fee provided from two different electronics companies with a debit note provided However, there is no detail of service provided on the debit note, and the remitters are two individuals.
Which actions should the investigator recommend to mitigate risk? (Select Two.)

• A. Document and maintain a file with the investigative findings.
• B. Conduct enhanced due diligence.
• C. Discuss the investigation findings with the customer.
• D. Exit the relationship with the customer.
• E. Re-evaluate the customer risk profile.

A compliance officer of a financial institution is reviewing a payment for sanctions compliance between two parties in Europe and Asia. The payment is in Euros and involves the provision of services to a company located in a jurisdiction subject to Office of Foreign Assets Control secondary sanctions. Which factor is most important in determining the compliance officer's response?

• A. Asset freezes only prohibit US companies from engaging in certain activities with counterparts from a sanctioned jurisdiction.
• B. The threat of US sanctions against foreign individuals and entities continues to exist despite the absence of a US nexus.
• C. Secondary sanctions only target specific sectors of the economy such as the banking and finance sectors.
• D. A one-off commercial transaction conducted between parties in Europe and Asia is not subject to secondary sanctions.