Acams Exam CAMS Topic 1 Question 87 Discussion

Actual exam question for Acams's CAMS exam

Question #: 87
Topic #: 1

[All CAMS Questions]

Which operational situation might indicate that money laundering is occurring at or through a deposit-taking financial institution?

AThe institution has observed an increase in customer demand for large-denomination banknotes.

BThe institution has observed an increase in the adoption of its digital products and services.

CThe institution has observed a reduced settlement time in the transaction services that support the rapid movement or remittance of funds.

DThe institution maintains a sequentially numbered log of the monetary instruments it sells.

Show Suggested Answer

Suggested Answer: D

by Jenise at Sep 16, 2024, 09:26 PM

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8 days ago

But what about the reduced settlement time in transaction services? Could that also be a sign of money laundering?

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9 days ago

Option A seems the most likely indicator of money laundering. Who doesn't love big bills for their illegal activities?

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13 days ago

I agree with you, Marvel. Large-denomination banknotes are often used in money laundering to move large sums of money quickly.

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15 days ago

I think if a financial institution sees an increase in customer demand for large-denomination banknotes, it could indicate money laundering.

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