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Acams CAMS Exam - Topic 3 Question 48 Discussion

According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)
D) Obtaining information on the reasons for intended or performed transactions and E) Obtaining tax reference details for the client and F) Obtaining information on the source of funds and source of wealth of the customer and of the beneficial owner(s)
A) Obtaining the approval of senior management for establishing or continuing the business relationship
B) Obtaining copies of passports for all authorized persons
C) Establishing and verifying the address of the client

Acams CAMS Exam - Topic 3 Question 48 Discussion

Actual exam question for Acams's CAMS exam
Question #: 48
Topic #: 3
[All CAMS Questions]

According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)

Show Suggested Answer Hide Answer
Suggested Answer: D, E, F

by Harrison at May 07, 2022, 02:26 PM

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Mitsue
11 months ago
Obtaining info on source of funds? Sounds like a lot of work!
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Edgar
11 months ago
I think verifying the client's address is crucial too.
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Noel
11 months ago
Wait, do we really need tax reference details? Seems excessive.
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Una
11 months ago
Totally agree, that's a must!
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Fletcher
11 months ago
Gotta get senior management approval for high-risk clients.
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Geoffrey
12 months ago
Okay, I've got this. I know that a single database instance can support multiple service names, and that service names are created by the listener. I'll select those options.
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Corinne
12 months ago
Hmm, I'm a bit unsure about this one. I know the Service Reusability principle is important, but I'm not totally clear on how it affects infrastructure requirements. I'll have to review my notes.
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Heidy
12 months ago
Okay, I think I've got this. The key is making sure the journal control is configured properly to meet the client's requirement of only using the general journal for ledger-type transactions. Let me double-check the details on that.
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Huey
12 months ago
This is a classic corporate finance problem. I'll start by analyzing the company's current capital structure and then consider how each financing option would affect the debt-to-equity ratio and the risk of breaching the covenant.
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