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Acams Exam CAMS Topic 4 Question 83 Discussion

Actual exam question for Acams's CAMS exam
Question #: 83
Topic #: 4
[All CAMS Questions]

A bank sells reloadable open-loop prepaid cards to both customers and non-customers.

What is a red flag associated with these cards that may indicate money laundering?

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Suggested Answer: A, C, F

by Vallie at Sep 08, 2024, 12:11 PM

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Joesph
3 months ago
I'd have to say Option B is the winner here. Loading up a bunch of prepaid cards with large amounts of cash - that's a big ol' neon sign that says 'Money Laundering'!
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Tasia
2 months ago
It's important for banks to monitor these activities to prevent money laundering schemes.
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Millie
2 months ago
I've heard that criminals use prepaid cards to disguise the origins of their illegal funds.
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Leatha
2 months ago
Yeah, that's definitely a red flag. It's a way to move around money without leaving a trace.
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Huey
2 months ago
Option B: Loading up a bunch of prepaid cards with large amounts of cash - that's a big ol' neon sign that says 'Money Laundering'!
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Terrilyn
3 months ago
Haha, I bet the bank employees are like, 'Prepaid cards? More like Pre-paid legal fees!' Seriously though, Option B is the way to go. Gotta watch out for those cash-loading non-customers.
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Brandee
2 months ago
The bank definitely needs to keep an eye on non-customers doing that.
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Rene
2 months ago
I agree, that's a red flag for potential money laundering.
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Alyce
2 months ago
Yeah, loading large amounts of cash onto prepaid cards is definitely suspicious.
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Owen
2 months ago
The bank definitely needs to keep an eye on non-customers doing that.
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Stefany
2 months ago
I agree, that's a red flag for potential money laundering.
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Keneth
3 months ago
Yeah, loading large amounts of cash onto prepaid cards is definitely suspicious.
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Loreta
3 months ago
Hmm, I'm not so sure. Option D about the bank customer buying five prepaid cards in small even-dollar amounts monthly seems a bit odd too. What's the reasoning behind that one?
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Deandrea
3 months ago
Maricela: Absolutely, staying vigilant is key in preventing money laundering activities.
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Maricela
3 months ago
User 2: That makes sense. It's definitely important to watch out for any suspicious patterns when it comes to prepaid cards.
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Angella
3 months ago
User 1: Option D could indicate structuring, which is a method used to avoid triggering reporting requirements for large transactions.
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Rolland
3 months ago
I'd have to go with Option C on this one. A non-bank customer consistently using the bank to get cash advances with a prepaid card is a clear indication that something shady is going on.
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Yolando
4 months ago
Option B definitely stands out as a red flag. Regularly loading large amounts of cash onto multiple prepaid cards is a classic money laundering tactic. Banks need to be vigilant about this kind of suspicious activity.
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Burma
3 months ago
B) A non-bank customer regularly loads large amounts of cash onto several prepaid cards.
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Judy
3 months ago
A) A bank customer historically purchases several prepaid cards near year-end.
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Chau
4 months ago
I'm not sure, but option A also seems like it could be a red flag.
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Sean
4 months ago
I agree with Candida, loading large amounts of cash onto prepaid cards seems suspicious.
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Candida
4 months ago
I think the red flag is option B.
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