Discuss Acams CAMS-FCI Exam Topic 2 Question 20

A criminal is engaged in chain hopping while trying to launder ransomware payments. The criminal will likely:

Aobscure the funds using a mixer.

Bconvert the funds to a different type of cryptocurrency.

Cstore the funds in a cold wallet.

Dmove the funds to an offshore cryptocurrency wallet.

Suggested Answer: B

Chain hopping is a technique used by criminals to obscure the traceability of cryptocurrency transactions by converting the funds to a different type of cryptocurrency, often using multiple exchanges or platforms. The other options are not related to chain hopping. Reference: Advanced CAMS-FCI Study Guide, page 38.

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22 comments · newest first

Lenita 10 months ago

Totally agree, a cold wallet is a smart move too!

Reta 10 months ago

Wait, can you really just move funds to an offshore wallet like that?

Christoper 10 months ago

I think converting to a different crypto is more common.

Sang 11 months ago

Mixing is a classic method for laundering, no doubt!

Edwin 11 months ago

Definitely using a mixer to hide those funds!

Mitsue 11 months ago

Moving funds to an offshore wallet sounds plausible too, but I think it’s more about hiding assets than laundering directly.

Mabel 12 months ago

Storing in a cold wallet seems more about security than laundering, but I guess it could be part of the process?

Claudio 1 year ago

I'm not entirely sure, but I feel like converting to a different cryptocurrency could also be a tactic, like in some practice questions we did.

Leana 1 year ago

I remember studying that mixers are often used to obscure the trail of funds, so I think A might be the right choice.

Chandra 1 year ago

I'm a bit confused on this one. The options all seem plausible, but I'm not sure which one is the most likely approach for a criminal laundering ransomware payments. I'll have to think this through carefully.

Rosann 1 year ago

I'm pretty confident the answer is D. Moving the funds to an offshore cryptocurrency wallet would be a good way for the criminal to get the money out of the country and make it harder to trace.

Earlean 1 year ago

Hmm, this is a tricky one. I'm not entirely sure, but I'm leaning towards B. Converting the funds to a different cryptocurrency could also help hide the trail.

Marnie 1 year ago

I think the answer is A. Obscuring the funds using a mixer seems like the most logical way for a criminal to launder ransomware payments and cover their tracks.

Jesusa 1 year ago

Ooh, a cold wallet! Gotta keep those funds extra chilly, am I right?

Serina 1 year ago

Converting to a different crypto seems like the safest bet. Less chance of getting caught that way.

Eva 10 months ago

↳ replying to Serina

Offshore wallets can really hide the trail.

Freida 10 months ago

↳ replying to Serina

Cold wallets are super secure for storage.

Luke 11 months ago

↳ replying to Serina

I agree, converting to a different crypto is smart.

Shala 11 months ago

↳ replying to Serina

But using a mixer could help too.

Nieves 1 year ago

Mixing the funds is definitely the way to go. That's how you really obscure the trail, you know?

Markus 1 year ago

↳ replying to Nieves

A) obscure the funds using a mixer.

Jaclyn 1 year ago

I think the criminal will likely obscure the funds using a mixer.

Acams CAMS-FCI Exam - Topic 2 Question 20 Discussion