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Acams CAMS Exam - Topic 1 Question 6 Discussion

In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.What is another name for these internal, non-client accounts?
C) Concentration accounts
A) Trust accounts
B) Correspondent accounts
D) Pay through accounts

Acams CAMS Exam - Topic 1 Question 6 Discussion

Actual exam question for Acams's CAMS exam
Question #: 6
Topic #: 1
[All CAMS Questions]

In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.

What is another name for these internal, non-client accounts?

Show Suggested Answer Hide Answer
Suggested Answer: C

http://www.wolfsberg-principles.com/privat-banking.html(1.2.2, 5th bullet)

by Alex at May 04, 2022, 01:50 AM

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Shawnda
11 months ago
I had no idea these accounts even existed!
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Margarita
11 months ago
Seems like a tricky area, but I lean towards concentration accounts too.
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Jamal
11 months ago
Wait, are we sure about that? I thought they were called trust accounts.
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Kimbery
11 months ago
Totally agree, concentration accounts make sense here.
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Ira
11 months ago
I think they're called concentration accounts.
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William
12 months ago
Hmm, I'm not too familiar with DLP, so I'll have to think this through carefully.
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Lourdes
12 months ago
Hmm, I'm a bit confused about the connection security rule and how that might impact the tracert command. I'll need to review the details on that.
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Bambi
12 months ago
Hmm, this looks like a tricky one. I'll need to think through the different configuration options carefully.
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Annice
12 months ago
I'm a bit confused on this one. Is there something about the Microsoft Trust Center that could be relevant for securing the report?
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Fabiola
12 months ago
I think the right answer might be the Control-policy. I remember practicing something similar where we had to influence routing decisions.
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Jillian
12 months ago
This looks straightforward. I'll focus on the key activities mentioned in the question and check which ones are supported by the production floor execution interface.
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