Online Access Free CAMS-FCI Practice Test

A SAR/STR on cash activity is filed for a company registered in the Marshall Islands operating a Mediterranean beach bar and hotel. The company has three nominee directors, one nominee shareholder, and another individual declared as both the beneficial owner and authorized signatory. Which information is key for law enforcement's physical surveillance of cash activity? (Select Two.)

• A.The identification details o' the nominee shareholder
• B.The company's registered address
• C.The identification details of the beneficial owner and authorized signatory
• D.The company's operating address
• E.The identification details the nominee directors

SAR/STR NARRATIVE
A SAR/STR has been submitted on five transactions conducted on the correspondent banking relationship with ABC Bank.
Client Information:
Remitter information: DEF Oil Resource Ltd. is the oldest member of the DEF Group. It was founded in 1977 as a general trading business with a primary focus on exports from Africa and North America. The group has business activities that span the entire energy value chain. Their core field of endeavor is centered within the oil and gas industry and its associated sub-sectors.
Beneficiary Information:
As per the response received from ABC Bank, it was determined that the beneficiaries are related to DEF Oil Resource Ltd. These were created by DEF Oil Resource Ltd. to purchase property in a foreign country on behalf of their senior management as part of a bonus scheme. The purpose behind this payment was for purchase of property in another country.
Payment Reference:
ABCXXXXX31PZFG2H
ABCXXXXXX51PQGEH
ABCXXXXXX214QWVG
ABCXXXXXX41PSXA2
ABCXXXXXX815QWS3
Concerns:
* We are unsure about the country of incorporation of the beneficiaries.
* We are concerned about the transactional activity since the payment made towards entities (conducted on behalf of individuals) appears to be possible tax evasion.
* There appears to be an attempt to conceal the identity of individuals (senior management), which again raises concerns about the source of funds.
* Referring to the response received from ABC Bank, we are unclear about the ultimate beneficiary of funds.
* The remitter is involved in a high-risk business, (i.e., oil and crude products trading), and the beneficiary is involved in a real estate business which again poses a higher risk.
The monitoring system of the correspondent institution flags the transaction as suspicious activity. The correspondent bank needs to send a request for information to the respondent bank. Which elements should be included in the request? (Select Three.)

• A.The respondent bank's customer's senior management bonus plan
• B.The account profile of the customer and their KYC data
• C.Full transaction history of the correspondent bank's customer
• D.The last 6 months of transactional history
• E.Details of DEF Oil Resource Ltd parent company and the name(s) of the beneficial owner(s)
• F.The contract pertaining to the purchase of property in another country

During onboarding al Private Bank A, client C indicated that the account would be initially funded with a transfer from Bank B totaling 50 million USD. On which source of funds should Bank A conduct additional scrutiny? (Select Two.)

• A.Documented sale of client properties
• B.Client's verified employment income
• C.Third-party transfer
• D.Client's overall wealth
• E.Transfer from Bank B

Which scenarios are common to money laundering through online marketplaces and trade-based money laundering? (Select Two.)

• A.Use of fraudulent letters of credit
• B.Over-valuation of the stated price of goods
• C.Use of multiple freight forwarding or export companies
• D.Frequent conversion of foreign currency
• E.No evidence of delivery of goods or shipping expenses

A client that runs a non-profit organization that aids refugees in leaving their home countries received a remittance from a money services business that was ten times the average. The client was recently detained for providing falsified passports to illegal immigrants. Which predicate offenses could be considered in the SAR/STR? (Select Two.)

• A.Human smuggling/trafficking
• B.Antiques smuggling
• C.Tax evasion
• D.Terrorist financing
• E.Narcotics trafficking