Learn with ACAMS : CAMS-FCI training material for 100% pass

A financial institution (Fl) has considered the available relevant factors in a transaction and has determined it will file a SAR^STR. Which is needed to support the contents of the report to the financial intelligence unit?

• A. Definitive proof that suspicious activity occurred
• B. Low evidentiary threshold about the suspicious activity
• C. Enough circumstantial evidence about the suspicious activity for a criminal proceeding
• D. No factual description of the suspicious activity

Law enforcement (LE) suspects human trafficking to occur during a major spotting 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 alter 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." Which fact should not be included in (he SAR/STR narrative?

• A. The request by law enforcement
• B. The air travel and hotel expenses
• C. The time of the cash deposits
• D. The sporting event

Which payment method for purchasing luxury items is a red flag for potential money laundering?

• A. Cash
• B. Wire transfer
• C. Personal loan
• D. Credit card

An investigator at a bank triggered a review in relation to potential misuse of legal persons and a complex network of corporate entities owned by customer A. For the investigator to provide a holistic view of the underlying risk, which action should be the initial focus of the investigation?

• A. Use data analytics to extract and analyze the linkages between the different entities.
• B. Review the customer due diligence documents of each entity and examine the year of incorporation and onboarding channel.
• C. Conduct a network link analysis on all customers of the bank.
• D. Find out whether customer A has relationships with other financial institutions.

CLIENT INFORMATION FORM Client Name: ABC Tech Corp Client ID. Number: 08125 Name: ABC Tech Corp Registered Address: Mumbai, India Work Address: Mumbai, India Cell Phone: "**"'" Alt Phone:
"*""* Email: ........"
Client Profile Information:
Sector: Financial
Engaged in business from (date): 02 Jan 2020 Sub-sector: Software-Cryptocurrency Exchange Expected Annual Transaction Amount: 125,000 USD Payment Nature: Transfer received from clients' fund Received from: Clients Received for: Sale of digital assets The client identified itself as Xryptocurrency Exchange." The client has submitted the limited liability partnership deed. However, the bank's auditing team is unable to identify the client's exact business profile as the cryptocurrency exchange specified by the client as their major business awaits clearance from the country's regulator. The client has submitted documents/communications exchanged with the regulator and has cited the lack of governing laws in the country of their operation as the reason for the delay.
During the financial crime investigation, the investigator discovers that some of the customer due diligence (CDD) documents submitted by the client were fraudulent. The investigator also finds that some of the information in the financial institution's information depository is false. What should the financial crime investigator do next?

• A. Contact the client directly and obtain the relevant notarized documents and information.
• B. Report collusion between the cryptocurrency exchange and internal staff in the internal hotline or whistle-blowing channel.
• C. Request that the relationship manager conduct a CDD refresh as it is a material trigger.
• D. Escalate to the compliance officer/money laundering reporting officer to file a SAR/STR.