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Acams CAMS Exam - Topic 2 Question 13 Discussion

Actual exam question for Acams's CAMS exam

Question #: 13
Topic #: 2

[All CAMS Questions]

What does designing a country as being of ''prime money laundering concern'' allow the U.S. government to do?

AObtain transactional information from U.S.-owned subsidiary banks located outside the U.S.

BClose some or all correspondent or payable-through accounts

CEnsure the inclusion of that country onto FATF's Non-Cooperative Country and Territory list

DEnsure the inclusion of that country into the office of Foreign Asset Control country sanctions programs

Show Suggested Answer

Suggested Answer: C

by Karan at May 05, 2022, 10:38 AM

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Sharee

8 months ago

D sounds plausible too, sanctions could definitely come into play.

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Vanesa

8 months ago

I think C is the right answer, it’s about keeping track of non-cooperative countries.

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Kayleigh

8 months ago

Wait, can they really just close accounts like that? Seems extreme.

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Fairy

8 months ago

Totally agree, it makes sense to monitor those transactions closely!

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Margart

8 months ago

A country labeled as a prime money laundering concern can lead to stricter banking regulations.

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Deane

9 months ago

Okay, I've got this. The key is that each agreed-to and funded risk response should have a risk response owner. That means option B is the correct answer. I'm confident in this approach.

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Solange

9 months ago

I think categorizing a country as being of "prime money laundering concern" might allow the U.S. to close some correspondent accounts, but I'm not entirely sure.

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