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Acams CAMS Exam - Topic 3 Question 63 Discussion

An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?
B) Cryptocurrency
A) Wire transfer
C) Money service business
D) Credit card

Acams CAMS Exam - Topic 3 Question 63 Discussion

Actual exam question for Acams's CAMS exam
Question #: 63
Topic #: 3
[All CAMS Questions]

An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?

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Suggested Answer: B

by Refugia at Dec 29, 2022, 06:54 PM

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Barney
7 months ago
Really? I thought credit cards were safer than that!
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Clorinda
8 months ago
Money service businesses have a lot of red flags too.
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Florinda
8 months ago
Wait, isn't wire transfer also pretty risky?
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Truman
8 months ago
Totally agree, crypto is hard to trace!
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Pearline
8 months ago
I'd say cryptocurrency is the riskiest for money laundering.
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Tien
8 months ago
I feel like credit cards are usually safer, but I could be wrong. They seem more straightforward compared to the others.
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Thora
8 months ago
I practiced a question similar to this, and I think money service businesses often have less regulation, which could make them riskier.
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Dorsey
8 months ago
I’m not entirely sure, but I think wire transfers are also a big concern because they can be done anonymously.
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Jonelle
8 months ago
I remember discussing how cryptocurrency can be harder to trace, so it might be the riskiest option for money laundering.
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Ettie
9 months ago
I'm a bit confused by the different options here. I'm not sure if 100,000 AMUs would actually be considered low memory usage or not.
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Myrtie
9 months ago
This seems straightforward to me. The MAC address learned via SDP will age out first, since that's the less secure/reliable method. I'll go with B.
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Leeann
9 months ago
Hmm, I'm a little unsure about this one. The wording seems a bit technical, and I want to make sure I fully understand the implications before answering. I'll need to read through it a couple of times.
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